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Ellis Corporation The Following Information Was Extracted from the First Year Absorption-Based
Multiple Choice
Ellis Corporation
The following information was extracted from the first year absorption-based accounting records of Ellis Corporation
| Total fixed costs incurred | $100,000 |
| Total variable costs incurred | 50,000 |
| Total period costs incurred | 70,000 |
| Total variable period costs incurred | 30,000 |
| Units produced | 20,000 |
| Units sold | 12,000 |
| Unit sales price | $12 |
Refer to Ellis Corporation.If Ellis Corporation had used variable costing in its first year of operations,how much income (loss) before income taxes would it have reported?
A) ($6,000)
B) $54,000
C) $26,000
D) $ 2,000
Correct Answer:
Verified
Correct Answer:
Verified
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