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jeyben [28]
3 years ago
5

Naples Company produced 650,000 units and sold 500,000 units. Their unit selling price is $10. Cost of goods sold is $6 per unit

. Fixed selling expenses are $10,000 and variable selling and administrative expenses are $3 per unit. Compute Naple's net income under absorption costing.
Business
1 answer:
BigorU [14]3 years ago
4 0

Answer:

Net operating profit= $490,000

Explanation:

Giving the following information:

Naples Company produced 650,000 units and sold 500,000 units. Their unit selling price is $10. The cost of goods sold is $6 per unit. Fixed selling expenses are $10,000 and variable selling and administrative expenses are $3 per unit.

Income statement:

Revenue= 500,000*10= 5,000,000

COGS= 500,000*6= 3,000,000

Gross profit= 2,000,000

Fixed expenses= 10,000

Variable selling nd administrative= (500,000*3)= 1,500,000

Net operating profit= $490,000

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