The Harold Corporation just started business in January of 2010. They had no beginning inventories. During 2010 they manufactured 12,000 units of product, and sold 10,000 units. The selling price of each unit was $20. Variable manufacturing costs were $4 per unit, and variable selling and administrative costs were $2 per unit. Fixed manufacturing costs were $24,000 and fixed selling and
administrative costs were $6,000. What would be the Harold Corporations Net income for 2010 using direct costing?
A) $114,000
B) $110,000
C) $4,000
D) $106,000
B
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Answer the following statement true (T) or false (F)
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