The following data relate to Santa Mia, Inc., a new company:

There were no variances during the period.
Required:
A. Determine the number of units in the ending finished-goods inventory.
B. Calculate the cost of the ending finished-goods inventory under (1) variable costing and (2) absorption costing.
C. Determine the company's variable-costing income.
D. Determine the company's absorption-costing income.

Question

The following data relate to Santa Mia, Inc., a new company:
  
There were no variances during the period. 
Required: 
A. Determine the number of units in the ending finished-goods inventory.
B. Calculate the cost of the ending finished-goods inventory under (1) variable costing and (2) absorption costing.
C. Determine the company's variable-costing income.
D. Determine the company's absorption-costing income.

Quizplus · Accepted Answer

The Answer of The following data relate to Santa Mia, Inc., a new company:
  
There were no variances during the period. 
Required: 
A. Determine the number of units in the ending finished-goods inventory.
B. Calculate the cost of the ending finished-goods inventory under (1) variable costing and (2) absorption costing.
C. Determine the company's variable-costing income.
D. Determine the company's absorption-costing income.

The Following Data Relate to Santa Mia, Inc