Croft Corporation produces a single product. Last year, the company had a net operating income of...
Croft Corporation produces a single product. Last year, the company had a net operating income of $96,860 using absorption costing and $82,300 using variable costing. The fixed manufacturing overhead cost was $13 per unit. There were no beginning inventories. If 23,800 units were produced last year, then sales last year were:
Homework Answers
| Answer |
| Absorption costing net operating income |
| Variable costing net operating income + (Fixed manufacturing overhead * ending inventory) |
| 96,860 = 82,300 + (13 * ending inventory) |
| Ending inventory = 1120 units ( 96860-82300)/13 |
| Sales = Units produced - Ending inventory |
| 23,800-1,120 |
| $ 22,680 |
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