P30-1A Omega corporation

P30-1A Omega corporation


                                                            OMEGA CORPORATION
                                                              Operating Data for 2013

	Units	amount
Sales	3,000	$139/unit
Variable manufacturing costs	2,900	$46/unit
Variable selling and administrative expenses		$4/unit
Fixed manufacturing costs		$75,000
Fixed selling and administrative expenses		$50,000
Finished goods inventory, January 1, 2013(absorption costing)	250	$45/unit
Finished goods inventory, January 1, 2013(direct costing)	250	$45/unit
Finished goods inventory, December 31, 2013	200

TUTORIAL PREVIEW

OMEGA CORPORATION Income Statement (Absorption Costing) For the year ended December 31, 2013
Sales			$417,000
Cost of goods sold
Beginning Inventory		$11,250
Variable manufacturing costs	$133,400

 

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