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Bicycle of Bombay, India, produces an inexpensive, yet rugged,

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Bicycle of Bombay, India, produces an inexpensive, yet rugged, bicycle for use on the city’s crowded streets that it sells for 930 rupees. data for the company’s operations last year follow:

Units in beginning inventory: 0
Units produced: 19,000
Units Sold: 7,000
Units in ending inventory: 12,000
Variable costs per unit:
Direct Materials: 87
Direct Labor: 317
Var. manuf. Overhead: 25
Var. selling/admin.: 20
Fixed Costs:
Fixed Manuf Overhead: 817,000
Fixed Selling/admin: 452,000

The absorption costing income statement prepared by the company’s accountant for last year appears below:
Sales: 6,510,000
Cost of Goods sold: 3,206,000
Gross Margin: 3,206,000
Sell/Admin Expense: 592,000
Net Operating Income: 2,614,000


1. Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period.
Total Fixed Manufacturing Overhead in ending inventory __?__
Submitted: 5 years ago.
Category: Homework
Expert:  Neo replied 5 years ago.
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