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What is the income under direct costing

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Problem 1 - Net income computed under GAAP for external reporting purposes is 1,000 (No of units sold is 400 units). Per checking, variable manufacturing cost per unit is 5.25 and manufacturing Fixed Overhead is 1,375. Total OPEX (Operating Expense) per GAAP is 800. GP rate is 36%. Gross profit is 1,800. What is the income under direct costing?

Problem 2 - A Corp has the following data:

Prime cost of 800,000

Variable Manufacturing Overhead of 100,000

Fixed Manufacturing Overhead of 160,000

Variable OPEX of 80,000

Fixed OPEX of 40,000.

1. What is the inventoriable cost under absorption costing?

2. What is the inventoriable cost under variable costing?

Reference no: EM133165662

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