Corbett Corporation manufactures a single product. Last year, variable costing net operating income was $72,000. The fixed manufacturing overhead costs deferred in inventory under absorption costing amounted to $29,000.Required:Determine the absorption costing net operating income last year.
What will be an ideal response?
| Variable costing net operating income | $ | 72,000 | |
| Add fixed manufacturing overhead costs deferred in inventory under absorption costing | 29,000 | ||
| Absorption costing net operating income | $ | 101,000 | |
You might also like to view...
___________________ is the accomplishment of role-related expectations that are negotiated and shared between an individual and his or her role-related partners in the work and family [life] domains.
a. Success b. Promotion c. Work-life balance d. Lateral move
Acknowledging you made a mistake is an example of negative assertion
Indicate whether the statement is true or false.
Acme Global is closing one of its plants immediately and laying off all 200 workers. As part of the closure, Acme Global will give each employee at the plant 60 days of pay and benefits. This will help Acme Global to be in compliance with the ______.
A. Railway Labor Act of 1926 B. National Labor Relations Act of 1935 C. Worker Adjustment and Retraining Notification Act of 1988 D. Labor Management Reporting Disclosure Act of 1959
Cash flows from operating activities, as part of the statement of cash flows, include cash transactions that enter into the determination of net income
Indicate whether the statement is true or false