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Leesburg Bags produces backpacks. The costs and prices for the backpacks follow (Assume the same unit costs in all years):
Selling price $23.00 per backpack
Variable costs: Production $10.00 per backpack selling $2.00 per backpack
Fixed Costs: Production $900,000 per year Selling and administrative $540,000 per year Leesburg Bags produced 250,000 backpacks for the year and sold 200,000. There was no beginning inventory, and costs throughout the year were stable. How much is net income under variable costing?
a) $550,000
b) 680,000
c) 600,000
d) 500,000
Paige, age 17 is claimed as a dependent on her parents 2014 return on which they report taxable income of 120000 ( no qualified dividends or capital gains). paige earned $3,900 pet sitting and $4000 in interest on a savings account. What are paige's ..
question fasb asc 14-1 settlement and curtailment of a defined benefit pension plansearch fasb asc database for answers
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