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Question - Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year.
Units produced this year 40,000 units
Units sold this year 24,000 units
DM $24 per unit
DL $26 per unit
Variable OH $3 per unit
Fixed OH $200,000 in total
Required - Given Advanced Company's data, and the knowledge that the product is sold for $80 per unit and operating expenses are $350,000, compute the net income under absorption costing.
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contract was for 160000 the engineers did extra work that put the company 16000 over budget they are billed through
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