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 

Business

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