Reconciliation of Absorption and Variable Costing Net Operating Incomes
Jorgansen Lighting, Incorporated, manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data:
| Year 1 | Year 2 | Year 3 | |
|---|---|---|---|
| Inventories: | |||
| Beginning (units) | 200 | 170 | 180 |
| Ending (units) | 170 | 180 | 220 |
| Variable costing net operating income | $ 1,080,400 | $ 1,032,400 | $ 996,400 |
The company’s fixed manufacturing overhead per unit was constant at $560 for all three years.
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Reconciliation of Absorption and Variable Costing Net Operating Incomes
Exercise 7-3 (Static) Reconciliation of Absorption and Variable Costing Net Operating Incomes [LO7-3]
Jorgansen Lighting, Incorporated, manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1Year 2Year 3Inventories:Beginning (units)200170180Ending (units)170180220Variable costing net operating income$ 1,080,400$ 1,032,400$ 996,400 The company’s fixed manufacturing overhead per unit was constant at $560 for all three years.Exercise 7-3 (Static) Part 2 2. Assume in Year 4 that the company’s variable costing net operating income...
Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for...
Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 year 2 year 3 Inventories: Beginning (units) 200 170 180 Ending (units) 170 180 220 Variable costing net operating income $1,080,400 $1,032,400 $996,400 The company's fixed manufacturing overhead per unit was constant at $560 for all three years. Requirement 1:...
Required information [The following information applies to the questions displayed below.) Jorgansen Lighting, Inc., manufactures heavy-duty...
Required information [The following information applies to the questions displayed below.) Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 Year 2 Year 3 Inventories: Beginning (units) Ending (units) Variable costing net operating income 200 170 $1,080,400 170 180 $1,032,400 180 220 $996,400 The company's fixed manufacturing overhead per...
4. Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing...
4. Jorgansen Lighting, Inc., manufactures heavy-duty street
lighting systems for municipalities. The company uses variable
costing for internal management reports and absorption costing for
external reports to shareholders, creditors, and the government.
The company has provided the following data:
Required information (The following information applies to the questions displayed below.) Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the...
Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for...
Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 Year 2 Year 3 Inventories Beginning (units) 210 150 200 Ending (units) 150 200 230 Variable costing net operating income $290,000 $269,000 $260,000 The company’s fixed manufacturing overhead per unit was constant at $560 for all three years. rev: 03_09_2019_QC_CS-162392...
3. Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing...
3. Jorgansen Lighting, Inc., manufactures heavy-duty street
lighting systems for municipalities. The company uses variable
costing for internal management reports and absorption costing for
external reports to shareholders, creditors, and the government.
The company has provided the following data:
Calculate each year’s absorption costing net operating income.
(Enter any losses or deductions as a negative
value.)
Required information [The following information applies to the questions displayed below.] Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses...
Exercise 6-3 Reconciliation of Absorption and Variable Costing Net Operating Incomes Special instructions: Complete Exercise 6-3...
Exercise 6-3 Reconciliation of Absorption and Variable Costing Net Operating Incomes Special instructions: Complete Exercise 6-3 in this document after the requirements list. You can create a table for the reconciliation report. Exhibit 6-4 provides an example that should help you complete the exercise. Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the...
Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for...
Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 Year 2 Year 3 Inventories Beginning (units) 200 160 200 Ending (units) 160 200 220 Variable costing net operating income $300,000 $269,000 $260,000 The company’s fixed manufacturing overhead per unit was constant at $570 for all three years. Exercise 6-3...
[The following information applies to the questions displayed below.] Jorgansen Lighting, Inc., manufactures heavy-duty street lighting...
[The following information applies to the questions displayed below.] Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 Year 2 Year 3 Inventories Beginning (units) 210 170 200 Ending (units) 170 200 240 Variable costing net operating income $290,000 $269,000 $260,000 The company’s fixed manufacturing overhead per unit was...
Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities.
Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data:
Required information [The following information applies to the questions displayed below.) Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 Year 2 Year 3 Inventories: Beginning (units) Ending (units) Variable costing net operating income 200 170 $1,080,400 170 180 $1,032,400 180 220 $996,400 The company's fixed manufacturing overhead per...
4. Jorgansen Lighting, Inc., manufactures heavy-duty street
lighting systems for municipalities. The company uses variable
costing for internal management reports and absorption costing for
external reports to shareholders, creditors, and the government.
The company has provided the following data:
Required information (The following information applies to the questions displayed below.) Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the...
3. Jorgansen Lighting, Inc., manufactures heavy-duty street
lighting systems for municipalities. The company uses variable
costing for internal management reports and absorption costing for
external reports to shareholders, creditors, and the government.
The company has provided the following data:
Calculate each year’s absorption costing net operating income.
(Enter any losses or deductions as a negative
value.)
Required information [The following information applies to the questions displayed below.] Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses...
Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data:
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> 1. Calculate each year’s absorption costing net operating income. (Enter any losses or deductions as a negative value.)
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