Reference no: EM132763845
Problem - Data for the last fiscal year for Merlene Company are as follows:
Units
Beginning inventory of finished goods 100
Production during the year 700
Sales 750
Ending inventory of finished goods 50
Per Unit
Product selling price $200
Variable manufacturing cost 90
Fixed manufacturing cost 20
Budgeted selling and administrative costs (all fixed) $45,000
*Denominator level of activity is 750 units for the year
Actual selling and administrative costs equaled the budgeted amount, and there were no work in process inventories at the end of the period. Under the variable costing concept, compute the amount of operating income earned by Merlene for the year?
a. $21,500.
b. $22,500.
c. $28,000.
d. $31,000.
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