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chubhunter [2.5K]
3 years ago
12

Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations:

Selling price $ 78 Units in beginning inventory 0 Units produced 8,800 Units sold 8,700 Units in ending inventory 100 Variable costs per unit: Direct materials $ 18 Direct labor $ 10 Variable manufacturing overhead $ 4 Variable selling and administrative expense $ 5 Fixed costs: Fixed manufacturing overhead $ 255,200 Fixed selling and administrative expense $ 87,000 What is the net operating income for the month under variable costing
Business
1 answer:
Tpy6a [65]3 years ago
8 0

The net operating income as per the variable costing method is $14500

<u>Explanation:</u>

The unit product cost is = $18 + $10 + $4 = $32

Sales revenue ( $78 multiply with 8700 units) = $678600

Variable cost:

Variable cost of goods sold ( 8700 units multiply $32) = $278400

Variable selling and administartive (8700 units multiply $5) = $43500

contribution margin = $356700

fixed manufacturing overhead = $255200

Fixed selling and adminstrative expenses = $87000

Net operating income = $14500

<u>Note:</u> contribution margin is calculated after deducting sales revenue with variable cost

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