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Author Question: The following data is related to sales and production of the Welch Corporation for last year.Selling ... (Read 78 times)

CQXA

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on: Jan 5, 2020
The following data is related to sales and production of the Welch Corporation for last year.

Selling price per unit $50.00
Variable manufacturing cost per unit $24.00
Variable selling and administrative expense per unit $4.00
Fixed manufacturing overhead (in total) $50,000
Fixed selling and administrative expenses (in total) $8,000
Units produced during year          10,000
Units sold during year            9,000
Units in beginning inventory            0
Units in ending inventory            1,000

Required:
1.  Prepare an income statement for last year using absorption costing.
2.  Calculate the value of the ending inventory using absorption costing.
3.  Prepare an income statement for last year using variable costing.
4.  Calculate the value of the ending inventory using variable costing.
Managerial Accounting, Canadian Edition ¦ Braun, Tietz, Pyper ¦ 2nd Edition
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Marked as best answer by CQXA on Jan 5, 2020

helenmarkerine

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Reply #1 on: Jan 5, 2020
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CQXA

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Reply 2 on: Jan 5, 2020
Wow, this really help

brbarasa

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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