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Question
Use the following company information to calculate net cash provided or used by investing activities:(a) Equipment with a book value of $175,000 and an original cost of $300,000 was sold at a loss of $17,000.
(b) Paid $62,000 cash for a new truck.
(c) Sold land costing $32,000 for $36,000 cash, realizing a $4,000 gain.
(d) Purchased treasury stock for $61,000 cash.
(e) Long-term investments in stock are sold for $41,000 cash, realizing a gain of $3,500.
Answer
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Direct labor X X
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Variable manufacturing overhead
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Direct materials
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Match the following
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Total fixed overhead $85,000
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Given the Cool Pools Company data, what is net income using absorption costing?
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