Business, 25.03.2020 19:59 Samsonb

Grainger Company produces only one product and sells that product for $110 per unit. Cost information for the product is as follows:

Direct Material $15 per Unit

Direct Labor $25 per Unit

Variable Overhead $5 per Unit

Fixed Overhead $33,500

Selling expenses are $3 per unit and are all variable. Administrative expenses of $15,000 are all fixed. Grainger produced 5,000 units; sold 4,000; and had no beginning inventory.

A. Compute net income under:

i. Absorption Costing $

ii. Variable Costing $

B. Which costing method provide higher net income? By how much?

The method provided more net income by $ .

Answers: 2

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Grainger Company produces only one product and sells that product for $110 per unit. Cost informatio...

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