For 2019, Kim, Inc., had production of 200,000 units and sales of 160,000 units. Selling price is $6 per unit. There was no beginning inventory. Other information for the year included: Direct manufacturing labor$228,000Variable manufacturing overhead120,000Direct materials180,000Variable selling expenses144,000Fixed administrative expenses96,000Fixed manufacturing overhead216,000 Compute net income under absorption costing.

Under Absorption costing, product cost include direct material, direct labor and variable…

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Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 6EB: What are the total costs to account for if a companys beginning inventory had $23,432 in materials...

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For 2019, Kim, Inc., had production of 200,000 units and sales of 160,000 units. Selling price is $6 per unit. There was no beginning inventory. Other information for the year included:

Direct manufacturing labor	$228,000
Variable manufacturing overhead	120,000
Direct materials	180,000
Variable selling expenses	144,000
Fixed administrative expenses	96,000
Fixed manufacturing overhead	216,000

Compute net income under absorption costing.

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