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What is net income using full costing

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Reference no: EM132975237

Question - Oak Ridge Manufacturing produces snow shovels. The selling price per snow shovel is $33.00. There is no beginning inventory.

Costs involved in production are:

Direct material $5.00

Direct labor 3.00

Variable manufacturing overhead 4.00

Total variable manufacturing costs per unit $12.00

Fixed manufacturing overhead per year $119,340

In addition, the company has fixed selling and administrative costs of $158,500 per year.

During the year, Oak Ridge produces 45,900 snow shovels and sells 40,860 snow shovels.

Required - What is net income using full costing?

Reference no: EM132975237

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