Star services inc a manufacturer of telescopes began, Ask an Expert

Accounting

Star Services, Inc., a manufacturer of telescopes, began operations on October 1 of the current year. During this time, the company produced 50,000 units and sold 35,000 units at a sales price of $500 per unit. Cost information for this year is shown below.

Production Costs:

Direct materials ...$85 per unit

Direct Labor ...$65 per unit

Variable overhead ...$200,000 in total

Fixed overhead ...$350,000 in total

Non-production costs:

Variable selling and administrative ...$90,000 in total

Fixed selling and administrative ...$500,000 in total

Given the Star Services Inc. data, what is the net income using variable costing?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9964536

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