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Calculate abc companys year two net income

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Reference no: EM132958422

Company ABC first two years of operations appears below

year 1                                    Year 2

$6 direct material cost per unit $7

$5. Direct labor cost per unit. $9

$4. Variable overhead cost per unit $ 3.9

$2. Variable selling and admin cost per unit 3

$100000 fixed overhead cost. $120000

50000. Fixed selling and admin cost 60000

20000. Units produced. 40000

40000. Units sold. 55000

33. Selling price per unit. 33

Problem 1: Calculate ABC COMPANYS YEAR 2 net income using absorption costing assume company uses a LIFO inventory cost flow assumption

Reference no: EM132958422

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