Silver Rex Inc.has provided the following data for the year 2015:
Requirements:
a)What is Silver Rex's product cost under absorption costing and variable costing?
b)Prepare income statements for Silver Rex using absorption costing and variable costing.
c)Calculate the balance in Finished Goods Inventory using absorption costing and variable costing.
Assume that the production and prices were the same in the previous year.

Question

Silver Rex Inc.has provided the following data for the year 2015:
  Requirements:
a)What is Silver Rex's product cost under absorption costing and variable costing?
b)Prepare income statements for Silver Rex using absorption costing and variable costing.
c)Calculate the balance in Finished Goods Inventory using absorption costing and variable costing.
Assume that the production and prices were the same in the previous year.

Quizplus · Accepted Answer

The Answer of Silver Rex Inc.has provided the following data for the year 2015:
  Requirements:
a)What is Silver Rex's product cost under absorption costing and variable costing?
b)Prepare income statements for Silver Rex using absorption costing and variable costing.
c)Calculate the balance in Finished Goods Inventory using absorption costing and variable costing.
Assume that the production and prices were the same in the previous year.