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Indiana Corporation produces a single product that sells fr $9 per unit. During the first year of operations, 100,000 units were produced, and 90,000 units were sold. Manufacturing costs and selling & administrative expenses for the year were as follows:

Fixed costs Variable costs
$1.75 per unit produced Raw Materials
$1.25 per unit produced Direct Labor
$100,000 $0.50 per unit produced Factory Overhead
$70,000 $0.60 per unit sold Selling & Administrative

What was Indiana Corporation's net operating income for the year using variable costing?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9968487

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