Exercise 5-24 Name:
Enter the appropriate numbers/formulas in the shaded (gray) cells, or select from the drop-down list.
An asterisk (*) will appear in the column to the right of an incorrect answer.
A.
Units
Sales (11,000 x$60 )660,000$
B.
Units
Sales (11,000 x$60 )660,000$
FOR THE YEAR ENDED DECEMBER 31, 20–
Unit Price/Cost
POSEY MANUFACTURING
INCOME STATEMENT – Absorption Costing
Instructor
Unit Price/Cost
POSEY MANUFACTURING
INCOME STATEMENT – Variable Costing
FOR THE YEAR ENDED DECEMBER 31, 20–
*Unit cost:
Direct materials 6.00$
C.
To apply for a loan, Posey would take the income statement
must be used to comply with GAAP.
D.
Usually, the
variable costing
absorption costing
Fixed OH 80,000$ 12,500 6.40