Ramon Company Reported the Following Units of Production and Sales $\quad$

question 59

Multiple Choice

Ramon Company reported the following units of production and sales for June and July the current year: $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\text { Units }$
$\begin{array}{lrr} \underline{\text {Month}}& \underline{\text {Producer}}& \underline{\text {Sold}}\\\text { June } & 100,000 & 90,000 \\\text { July } & 100,000 & 105,000\end{array}$
Net income under absorption costing for June was $40,000; net income under variable costing for July was $50,000.Fixed manufacturing costs were $600,000 for each month.
How much was net income for July using absorption costing?

• A)$20,000
• B)$40,000
• C)$50,000
• D)$80,000

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Definitions:

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