Use the information below to answer the following question(s).
The following information for the past year for the Lambert Company has been provided:

During the year, the Lambert Company produced and sold 50,000 units of product at a sale price of $10.00 per unit. There was no beginning inventory of product at the beginning of the year.
-What is the operating income (loss) for the year at the Lambert Company?

Question

Use the information below to answer the following question(s).
The following information for the past year for the Lambert Company has been provided:
  
During the year, the Lambert Company produced and sold 50,000 units of product at a sale price of $10.00 per unit. There was no beginning inventory of product at the beginning of the year.
-What is the operating income (loss) for the year at the Lambert Company?

Quizplus · Accepted Answer

Operating income is calculated by subtracting operating expenses from net sales. In this case, net sales are $500,000 and operating expenses are $206,000, resulting in an operating income of $294,000.

Use the Information Below to Answer the Following Question(s)