ACCT 221 help A Guide to career/Snaptutorial ACCT 221 help A Guide to career/Snaptutorial | Page 9

Total gallons sold
1,500,000
Requirement:
Prepare income statements based on the absorption costing and
variable costing methods.
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ACCT 221 HomeWork Solutions
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Question 1
Rayol Inc uses a process cost system to accumulate the costs it incurs
to produce aluminum stabilizers from recycled aluminum cans. The
July 1 inventory in the finishing department consisted of 63,000 units,