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What is net income using variable costing

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Reference no: EM132977050

Question - Covington Manufacturing produces snow shovels. The selling price per snow shovel is $33.00. There is no beginning inventory.

Costs involved in production are:

Direct material $5.00

Direct labor 5.00

Variable manufacturing overhead 4.00

Total variable manufacturing costs per unit $14.00

Fixed manufacturing overhead per year $155,150

In addition, the company has fixed selling and administrative costs of $154,600 per year.

During the year, Covington produces 53,500 snow shovels and sells 48,350 snow shovels.

Required - What is net income using variable costing?

Reference no: EM132977050

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