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What is net income using full costing

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Question - Canarie Manufacturing produces snow shovels. The selling price per snow shovel is $29.00. 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 $233,550

In addition, the company has fixed selling and administrative costs of $162,400 per year.

During the year, Canarie produces 51,900 snow shovels and sells 46,500 snow shovels.

Required - What is net income using full costing?

Reference no: EM132889353

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