B-23.02 Problem

B-23.02 Problem - as variable costing methods. Relevant...

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B-23.02 OxiClear manufactures a tile and grout cleaner. The company was formed during the current year. As a result, there was no beginning inventory. Management is evaluating performance and inventory management issues, and desires to know both net income and ending inventory under generally accepted accounting principles (absorption costing) as well
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Unformatted text preview: as variable costing methods. Relevant facts are as follows: Selling price per gallon $ 4.40 Variable manufacturing cost per gallon 0.80 Variable SG&A costs per gallon 0.90 Fixed manufacturing costs $ 1,450,000 Fixed SG&A 235,000 Total gallons produced 650,000 Total gallons sold 620,000...
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.

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