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During the year the company produced 24000 units and sold

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Reference no: EM13601077

The Ireland Company manufactures and sells a single product. The following costs were incurred during the company's first year of operation:
Variable cost per unit:
Manufacturing:

  • Direct materials $22
  • Direct Labor $ 5
  • Variable manufacturing overhead $ 2
  • Variable selling and administrative $ 4
  • Fixed costs per year:
  • Fixed manufacturing overhead $ 160,000
  • Fixed selling and administrative expenses $100,000

During the year, the company produced 24,000 units and sold 23,000 units. The selling price of the company's product is $55 per unit.Compute the company's net operating income for the year under the variable costing method.

Reference no: EM13601077

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