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Kluber, Inc. had net income of $917,000 based on variable costing. Beginning and ending inventories were 56,700 units and 55,400 units, respectively. Assume the fixed overhead per unit was $2.10 for both the beginning and ending inventory. What is net income under absorption costing

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Answer:

The answer is "[tex]\$235,410[/tex]".

Explanation:

Variable cost net income [tex]=\$917,000[/tex]

Less: Fixed overhead start  [tex]56,700\times \$2.10=\$119,070[/tex]

Add: Fixed overhead termination  [tex]55,400\times $2.10=\$11,6340[/tex]

Net revenue at cost of absorption [tex]=\$235,410[/tex]

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