Philpott's Operating Income Using Absorption Costing Is $100

question 151

Multiple Choice

Philpott's operating income using absorption costing is $100. Its inventories using both absorption and variable costing are as follows: Beginning of Year End of Year
Absorption costing $98 $86
Variable costing $76 $60
Under variable costing, operating income would be:

• A)$102
• B)$94
• C)$100
• D)$96

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Definitions:

Corrective Lenses

Optical lenses designed to correct vision impairments, such as myopia, hyperopia, astigmatism, and presbyopia, used in glasses or contact lenses.

Exam

A formal test of a person's knowledge or proficiency in a particular subject or skill.

Shortened Eyeball

An eyeball that is shorter than normal, often associated with hyperopia or farsightedness.

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