Schweinert Corporation manufactures a single product. The following data pertain

Question

Schweinert Corporation manufactures a single product. The following data pertain to the company's operations over the last two years:

What was the absorption costing net operating income this year?

Variable costing net operating income, last year $58,000 Variable costing net operating income, this year $64,000 Fixed manufacturing overhead costs released from inventory under absorption costing, last year $11,000 Fixed manufacturing overhead costs deferred in inventory under absorption costing, this year $20,000

Explanation / Answer

Calculate absorption costing net operating income this year :

Variable costing net operating income this year 64000 Add: Fixed manufacturing overhead cost deferred in inventory under absorption costing, this year 20000 Absorption costing net operating income this year 84000

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