What is operating income under absorption costing, Cost Accounting

Assignment Help:

Loring Company had the following data for the month:

Variable costs per unit:
Direct Materials $4
Direct Labor 3.20
Variable Overhead 1
Variable selling expense 0.40

Fixed Overhead is $4,000 per month; it is applied to production based on normal activity of 2,000 units. During the month, 2,000 units were produced. Loring started the month with 300 units in beginning inventory, with unit product cost equal to this months unit product cost. A total of 2100 units were sold during the moth at price of $14. Selling & Administrative expense for the month, all fixed totaled $3,600.

1. What is operating income under variable costing?
2. What is the unit product cost under absorption costing?
3.What is operating income under absorption costing?

 


Related Discussions:- What is operating income under absorption costing

Maginal costing.., fixed expenses are incurred equally in the two half year...

fixed expenses are incurred equally in the two half year periods,calculate

Process costing, what is accounting treatment for material losses due to ab...

what is accounting treatment for material losses due to abnormal reasons

Idle capacity, How does idel capacity effect cost behavior patterns and fac...

How does idel capacity effect cost behavior patterns and factory overhead application methods

Calculate remuneration of employee of an organisation, Calculate Remunerati...

Calculate Remuneration of Employee of an Organisation Based on the data underneath that you are necessary to calculate the remuneration of all employee like determined with ea

Labor transactions, Labor Transactions (i) Wages Paid in cash (ii) ...

Labor Transactions (i) Wages Paid in cash (ii) Wages incurred like a) Direct labor or else b) Indirect labor  In the Financial Books  In

Give annual report project, Give Annual report project: You will pick ...

Give Annual report project: You will pick a publically trade company to do the analysis on with approval of the professor . the following is an outline of what should be in th

Decision making cycle, Decision Making Cycle Steps in decision-making ...

Decision Making Cycle Steps in decision-making cycle are as: a) Clearly define the objective that is to be the focus of the decision. This is significant in order that the

Process costing.., the following information relates to process 3 of a thre...

the following information relates to process 3 of a three stage production process for the month of january 2014. opening inventury 300 units comlete as to; material from proces

Material handling, Material Handling The objective is to ensure about ...

Material Handling The objective is to ensure about the goods are delivered to the right places at the right instance and in aright manner to ignore delays, unnecessary and con

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd