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San Diego State University Operations And Supply Chain Management Assignment Help - Inventory

Question - Problem 19-1A Variable costing income statement and conversion to absorption costing income L.O. P2, P4 Torres Company began operations this year. During this first year, the company produced 100,000 units and sold 80,000 units. The absorption costing income statement for its first year of operations follows. Sales (80,000 units Af— $50 per unit) $ 4,000,000 Cost of goods sold Beginning inventory $ 0 Cost of goods manufactured (100,000 units Af— $30 per unit) 3,000,000 Cost of good available for sale 3,000,000 Ending inventory (20,000 Af— $30) 600,000 Cost of goods sold 2,400,000 Gross margin 1,600,000 Selling and administrative expenses 510,000 Net income $ 1,090,000 Additional Information a. Selling and administrative expense ...Read More

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