A business operated at 100% of capacity during its first month, with the following results:...
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Accounting
A business operated at 100% of capacity during its first month, with the following results:
| Sales (117 units) | $526,500 | |
| Production costs (146 units): | ||
| Direct materials | $71,022 | |
| Direct labor | 18,133 | |
| Variable factory overhead | 31,733 | |
| Fixed factory overhead | 30,222 | 151,110 |
| Operating expenses: | ||
| Variable operating expenses | $6,267 | |
| Fixed operating expenses | 3,062 | 9,329 |
The amount of gross profit that would be reported on the absorption costing income statement is
a. $399,138
b. $396,076
c. $405,405
d. $526,354
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