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The following information relates to the Tram Company for the upcoming year.
Amount Per UnitSales $4,000,000 $10.00Cost of Goods Sold 3,200,000 8.00Gross Margin 800,000 2.00Operating Expense 300,000 .75Operating Profits $500,000 $1.25
The cost of goods sold includes $1,200,000 of fixed manufacturing overhead; the operating expenses include $100,000 of fixed marketing expenses. A special order offering to buy 50,000 units for $7.50 per unit has been made to Tram. Fortunately, there will be no additional operating expenses associated with the order and Tram has sufficient capacity to handle the order. How much will operate profits be increased if Tram accepts the special order?
a. $25,000
b.$62,000
c. $100,000
d. $125,000
Discuss the advantages and disadvantages of each costing method including FIFO, LIFO, and Average Cost.
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