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1. The following data relate to Flores Company for the year ended December 31, 19x8:
Cost of production:
Direct materials
$168,000
Direct labor
252,000
Factory overhead:
Variable
90,000
Fixed
180,000
Sales commission (variable)
44,000
Sales salaries (fixed)
46,000
General and administrative expenses (fixed)
62,000
Units produced
75,000 units
Units sold (@$18)
60,000
(a) Compute the amount of income before income taxes and ending inventory under (1) absorption costing and (2) direct costing.
(b) Reconcile the difference in income before taxes between the two methods.
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