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il63 [147K]
3 years ago
15

Garfield Company has the following information for the current​ year: Beginning fixed manufacturing overhead in inventory $230,0

00 Fixed manufacturing overhead in production 850,000 Ending fixed manufacturing overhead in inventory 50,000 Beginning variable manufacturing overhead in inventory $40,000 Variable manufacturing overhead in production 140,000 Ending variable manufacturing overhead in inventory 30,000 What is the difference between operating incomes under absorption costing and variable​ costing?
Business
1 answer:
Lemur [1.5K]3 years ago
3 0

Answer:

the difference between operating incomes under absorption costing and variable​ costing is $180,000 .

Explanation:

The difference between the two Operating Incomes lies in the amount of Fixed Overheads that has been deferred in Inventory.

So, calculation of the difference will be as follows :

Beginning fixed manufacturing overhead in inventory              $230,000

Less Ending fixed manufacturing overhead in inventory           ($50,000)

Difference  between  absorption costing and variable​ costing $180,000

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It is said that there are a number of steps in designing an effective service system which include a) Establishing procedures to
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Answer is in a file below

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3 years ago
Smidt Corporation has provided the following data for its two most recent years of operation: The unit product cost under absorp
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The solution to this issue can be defined as follows:  

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6 0
3 years ago
Analyse TWO benefits of being employed in an education sector (2×2=4)
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Benefits of being employed in the education sector include:

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7 0
3 years ago
North Dakota Corporation began operations in January 2020 and purchased a machine for $27,000. North Dakota uses straight-line d
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Answer and Explanation:

The Journal entry is shown below:-

Income tax expense Dr, $40,025

      To Deferred tax liability $2,025

      To Income tax payable $38,025

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Working note:-

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