Stanley Steel Company reported the following units of production and sales for October and November of this year:
$$\begin{array} { l r r }
\underline{\text { Month }} & \underline{\text { Produced }} & \underline{\text { Sold }} \
\text { October } & 50,000 & 45,000 \
\text { November } & 50,000 & 51,000
\end{array}$$ Net income under absorption costing for October was $22,000.
Net income under variable costing for November was $32,000.
Fixed manufacturing costs were $300,000 for each month.
Calculate net income for November using absorption costing.

Question

Stanley Steel Company reported the following units of production and sales for October and November of this year:
 $$\begin{array} { l r r } 
\underline{\text { Month }} & \underline{\text { Produced }} & \underline{\text { Sold }} \
\text { October } & 50,000 & 45,000 \
\text { November } & 50,000 & 51,000
\end{array}$$ Net income under absorption costing for October was $22,000.
Net income under variable costing for November was $32,000.
Fixed manufacturing costs were $300,000 for each month.
Calculate net income for November using absorption costing.

Quizplus · Accepted Answer

The Answer of Stanley Steel Company reported the following units of production and sales for October and November of this year:
 $$\begin{array} { l r r } 
\underline{\text { Month }} & \underline{\text { Produced }} & \underline{\text { Sold }} \
\text { October } & 50,000 & 45,000 \
\text { November } & 50,000 & 51,000
\end{array}$$ Net income under absorption costing for October was $22,000.
Net income under variable costing for November was $32,000.
Fixed manufacturing costs were $300,000 for each month.
Calculate net income for November using absorption costing.

Stanley Steel Company Reported the Following Units of Production and Sales