Reference no: EM132749611
Problem - Krepps Corporation produces a single product. Last year, Krepps manufactured 28,000 units and sold 22,500 units. Production costs for the year were as follows:
Direct materials $229,600
Direct labor $134,400
Variable manufacturing overhead $215,600
Fixed manufacturing overhead $336,000
Sales totaled $1,046,250 for the year, variable selling and administrative expenses totaled $117,000, and fixed selling and administrative expenses totaled $201,600. There was no beginning inventory. Assume that direct labor is a variable cost. Under variable costing, Compute the company net operating income for the year?
a. $33,000 lower than under absorption costing.
b. $33,000 higher than under absorption costing.
c. $66,000 lower than under absorption costing.
d. $66,000 higher than under absorption costing.
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