Reference no: EM133018376
Question - Benton Manufacturing produces snow shovels. The selling price per snow shovel is $31.00. There is no beginning inventory.
Costs involved in production are:
Direct material $4.00
Direct labor 4.00
Variable manufacturing overhead 3.00
Total variable manufacturing costs per unit $11.00
Fixed manufacturing overhead per year $180,200
In addition, the company has fixed selling and administrative costs of $162,600 per year.
During the year, Benton produces 53,000 snow shovels and sells 48,270 snow shovels.
Ending Inventory (Full Costing) is 68112
Ending Inventory (Variable Costing) is 52030
Calculate the difference in full costing net income and variable costing net income without preparing either income statement.
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: Calculate the amounts Maroon should report for the following items in the Discontinued Operations section of the December 31, 2020 income statement
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What is the value of ending inventory using full costing
: During the year, Benton produces 53,000 snow shovels and sells 48,270 snow shovels. What is the value of ending inventory using full costing
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