Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. lamopole inc. sells its products for $95 each. the

Lamopole Inc. sells its products for $95 each. The current production level is 90,000 units,...

60.1K

Verified Solution

Question

Accounting

image
Lamopole Inc. sells its products for $95 each. The current production level is 90,000 units, although only 57,000 units are anticipated to be sold. The following information was presented by the company in 2020: Unit manufacturing costs are: Direct materials Direct manufacturing labor Variable manufacturing costs $7 $9 $15 Total fixed manufacturing costs $378,000 Marketing expenses Marketing expenses $12 per unit $115,000 per year Required: Using the information, prepare an income statement using absorption costing. What is Lamopole Inc's operating income (loss) for 2020? O $340,000 O $118,300 O $3,400,000 O $2,609,600

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Place the correct word into the sentence to describe the muscles of respiration. a. elevate b. depress c. flex d....

Medical Sciences
Q

Give three different friction models or equations and examples of when each is valid.

Mechanical Engineering
Q

Solve the non-homogeneous DE: y'' + 2 y' = et+ 3 using undetermined coefficients

Advance Math
Q

Because phospholipids are partly and partly they are able to form bilayers and these bilayers...

Biology
Q

Which of the following tubes shows an aerotolerant bacterium 1 Source Wikipedia test tube 2...

Biology
Q

1 Question 1 of 10 1 point Question Atte f x 2 X Write the...

Calculus
Q

10 Given this graph of the function f x Find a f 1 b f...

Calculus
Q

Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the...

Accounting
Q

Tyler Industries currently manufactures one of its cruclal parts...

Accounting
Q

You may need to use the approprite appendix table or technology to answer this queation....

Accounting
Q

can anyone help with these practice test questions? QUESTION 1 At year-end, the balance...

Accounting
Q

Tonid Company processes 18,150 gallons of direct materials to produce two products, Product X and...

Accounting