Question

Helmers corporation manufactures a single product. Variable costing net operating income last year was $78,000 and this year was $93,500. Last year, $29,000 in fixed manufacturing overhead costs were released from inventory under absorption costing. This year, $10,900 in fixed manufacturing overhead costs were deferred in inventory under absorption costing. What was the absorption costing net operating income last year?

Answer 1

Helmers Corporation manufactures a single product Variable costing net operating ... This year, $10400 in fixed manufacturing overhead costs were deferred in inventory under ...