Krepps Corporation produces a single product. Last year, Krepps manufactured 32,210 units and sold 26,700 units. Production costs for the year were…
Krepps Corporation produces a single product. Last year, Krepps manufactured 32,210 units and sold 26,700 units. Production costs for the year were as follows:
Direct materials$241,575Direct labor$157,829Variable manufacturing overhead$251,238Fixed manufacturing overhead$418,730
Sales totaled $1,241,550 for the year, variable selling and administrative expenses totaled $138,840, and fixed selling and administrative expenses totaled $199,702. There was no beginning inventory. Assume that direct labor is a variable cost.
Save your time - order a paper!
Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines
Order Paper NowUnder variable costing, the company’s net operating income for the year would be: