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Preferred Products has the following cost information available for 2009: Direct Materials $4.00 per unit Direct Labor $3.00 per unit Variable manufacturing overhead $2.00 per unit Variable selling and administrative costs $1.00 per unit Fixed manufacturing overhead $25,000 Fixed selling and administrative costs $10,000 During 2009, Preferred produced 5,000 units out of which 4,600 units were sold for $30 each. A. Calculate Preferred’s net income assuming the company uses variable costing. B. Calculate Preferred’s net income assuming the company uses absorption costing.

Preferred Products has the following cost information available for 2009:
Direct Materials $4.00 per unit
Direct Labor $3.00 per unit
Variable manufacturing overhead $2.00 per unit
Variable selling and administrative costs $1.00 per unit
Fixed manufacturing overhead $25,000
Fixed selling and administrative costs $10,000

During 2009, Preferred produced 5,000 units out of which 4,600 units were sold for $30 each.

A. Calculate Preferred’s net income assuming the company uses variable costing.
B. Calculate Preferred’s net income assuming the company uses absorption costing.

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