Multiple Choice QuestionIf income under variable costing is $500,000, fixed overhead in ending FG inventory is $10,000 and fixed overhead in beginning FG inventory is $15,000 then income under absorption costing is:Multiple choice question.$495,000$485,000$510,000$505,000

Last year, Fabre Company produced 20,000 units and sold 18,000 units at a price of $12. Costs for last year were as follows:Direct materials $25,000Direct labor $35,000Variable factory overhead $12,000Fixed factory overhead $37,000Variable selling expense $9,000Fixed selling expense $7,500Fixed administrative expense $15,500Fixed factory overhead is applied based on expected production. Last year, Fabre expected to produce 20,000 units. Assuming that beginning inventory was zero, what would be the profit under variable costing and absorption costing?  Group of answer choices$82,200; $85,900$75,000; $78,700$83,100; $79,400$83,100; $75,000None of above

Multiple Choice QuestionThe formula to convert income from variable to absorption costing is:Multiple choice question.income under variable costing plus variable overhead in ending finished goods inventory minus variable overhead in beginning finished goods inventory.income under variable costing plus fixed overhead in beginning finished goods inventory minus fixed overhead in ending finished goods inventory.income under variable costing plus fixed overhead in ending finished goods inventory minus fixed overhead in beginning finished goods inventory.

Monex reported $65,000 of net income for the year by using absorption costing. The company had no beginning inventory, planned and actual production of 20,000 units, and sales of 18,000 units. Standard variable manufacturing costs were $20 per unit, and total budgeted fixed manufacturing overhead was $100,000. If there were no variances, net income under variable costing would be: A. $15,000. B. $55,000. C. $65,000. D. $75,000. E. $115,000.

Monex reported $65 000 in net profit for the year using absorption costing. The company had no units in beginning inventory, planned and actual production was 20 000 units and sales were 18 000 units during the year. Variable manufacturing costs were $20 per unit and total budgeted fixed manufacturing overhead was $100 000. There was no underapplied or overapplied overhead reported during the year. Determine the net profit under variable costing:a) $115,000 b) $75,000 c) $65,000 d) $55,000

Industrial Dynamics reported a marginal costing profit of $28,000 for the year. During the same period, there was a decrease in inventory of 500 units. The fixed production overhead absorption rate was calculated at $10 per unit. Additionally, variable selling costs amounted to $4,000 and fixed distribution costs totalled $2,000 for the period.Calculate the Absorption Costing Profit.