A business operated at 100% of capacity during its first month, with the following results:...
70.2K
Verified Solution
Link Copied!
Question
Accounting
A business operated at 100% of capacity during its first month, with the following results:
Sales (111 units) $521,700 Production costs (139 units): Direct materials $70,622 Direct labor 18,031 Variable factory overhead 31,554 Fixed factory overhead 30,052 150,259 Operating expenses: Variable operating expenses $5,348 Fixed operating expenses 3,288 8,636 The amount of gross profit that would be reported on the absorption costing income statement is
a.$396,361 b.$521,561 c.$401,709 d.$393,073
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.