1 answer

Dodner Company uses an absorption costing system in accounting for the single product it manufactures. The...

Question:

Dodner Company uses an absorption costing system in accounting for the single product it manufactures. The following selected
Variable selling and $43,200 administrative expenses Fixed selling and $144,000 administrative expenses
The company produced 24,000 units and sold 20,000 units in 2020. Direct materials and direct labor are variable costs. One un
Dodner Company uses an absorption costing system in accounting for the single product it manufactures. The following selected data are for the year 2020: Sales (20,000 $720,000 units) Direct materials $259,200 used Direct labor $86,400 costs Variable manufacturing $25,920 overhead Fixed manufacturing $34,560 overhead
Variable selling and $43,200 administrative expenses Fixed selling and $144,000 administrative expenses
The company produced 24,000 units and sold 20,000 units in 2020. Direct materials and direct labor are variable costs. One unit of direct material goes into each unit of finished goods. Overhead rates are based on a volume of 24,000 units and are $2.16 and $2.88 per unit for variable and fixed overhead, respectively. The ending inventory is 4,000 units of finished goods on hand at the end of 2020. There was no inventory at the beginning of 2020. Required: A. Prepare an income statement for 2020 under variable costing. B. Prepare an income statement for 2020 under absorption costing.

Answers

Answer for A Variable Costing Income Statement Amount Amount $ 720,000 Sale Value Variable Costs : Direct Material $216,000 (Answer for B Absorption Costing Income Statement Amount Amount $ 720,000 Sale Value Cost of Goods Manufactured: Direct MateriWorking Notes Calculation of Variable costs per unit Amount 10.80 3.60 Direct Material (Direct material used / No. of units p

.

Similar Solved Questions

1 answer
What conflicts of interest do the public health administrators face when dealing with hurricane disaster.
what conflicts of interest do the public health administrators face when dealing with hurricane disaster....
1 answer
How do you solve #\frac { 2} { 5} n + \frac { 1} { 10} = \frac { 1} { 2} ( n + 4)#?
How do you solve #\frac { 2} { 5} n + \frac { 1} { 10} = \frac { 1} { 2} ( n + 4)#?...
1 answer
How do you write an equation for the hyperbola with asymptote #y=+-(4x)/3#, contains #(3sqrt(2,)4)#?
How do you write an equation for the hyperbola with asymptote #y=+-(4x)/3#, contains #(3sqrt(2,)4)#?...
1 answer
These questions come from the operating system course, please read the questions carefully, please do not give irrelevant answers, thank you. Part III Answer the following questions (20 points ea...
These questions come from the operating system course, please read the questions carefully, please do not give irrelevant answers, thank you. Part III Answer the following questions (20 points each) 13. Suppose a file system maintains a free list with a bit map that is implemented as an array of...
1 answer
Sin90 + Cos 90=
Sin90 + Cos 90=...
1 answer
Short term notes payable: A. are shown on the balance sheet with current liabilities B. are...
Short term notes payable: A. are shown on the balance sheet with current liabilities B. are generally due within three months, with a maximum time period of six months C. are shown on the balance sheet after bonds payable D. are shown as a reduction to notes receivable on the balance sheet, with an ...
1 answer
Define a class DoubleStack which implements two stacks of objects of type Object using a single...
Define a class DoubleStack which implements two stacks of objects of type Object using a single shared array, so that the push and pop operations specify which of the two stacks is involved in the operation (as described below). (a) Specify necessary instance variables and write a constructor &ldquo...
1 answer
Corp.'s breakeven point is revenues of $1,600,000. Fixed costs are $640,000. Compute the contribution margin percentage....
Corp.'s breakeven point is revenues of $1,600,000. Fixed costs are $640,000. Compute the contribution margin percentage. Compute the selling price if variable costs are ​$15 per unit. With 70,000 units are sold. Compute the margin of safety in units and dollars. What does this tell you abo...
1 answer
We were unable to transcribe this imageChapter 1 - Introduction to Cost Accounting P1-9 2. Prepare...
We were unable to transcribe this imageChapter 1 - Introduction to Cost Accounting P1-9 2. Prepare a schedule to compute the prime cost incurred during 3. Prepare a schedule to compute the conversion cost charged to Work in Process during July. Data analysis; manufacturing statement Glasson Manufact...
2 answers
How do you find the slope and intercept of #-5+y=1/4x#?
How do you find the slope and intercept of #-5+y=1/4x#?...
1 answer
- Hello Experts! I am looking for some help with this problem! I already completed section...
- Hello Experts! I am looking for some help with this problem! I already completed section C I am looking for some help with sections B and D thank you so much! Liquidation At the time it defaulted on its interest payments and filed for bankruptcy, the McDaniel Mining Company had the following balan...
1 answer
Score: 0 of 1 pt 34 of 58 (23 complete) HW Score: 34.48%, 20 of 58...
Score: 0 of 1 pt 34 of 58 (23 complete) HW Score: 34.48%, 20 of 58 29.3.91 Question Help The formula log 2l = t relates amount of electrical current (in amperes) flowing through a circuit to the length of time t (in seconds) that it takes for the current to pass through the circut. Find the amount o...
2 answers
Answer in simplest form -5/7(2/5) give me step by step
answer in simplest form-5/7(2/5)give me step by step...
1 answer
Weighted cost per unit? CALCULATOR PRINTER VERSTON BACK NEXT Problem 6-2A (Part Level Submission) Culver Distribution...
weighted cost per unit? CALCULATOR PRINTER VERSTON BACK NEXT Problem 6-2A (Part Level Submission) Culver Distribution markets CDs of the performing artist Fishe. At the beginning of October, Culver had in beginning inventory 2,600 of Fishe's CDs with a unit cost of $7. During October, Culver ...
1 answer
B) A fault occurs at bus 4 of the network shown in Figure Q3. Pre-fault nodal...
b) A fault occurs at bus 4 of the network shown in Figure Q3. Pre-fault nodal voltages throughout the network are of 1 +j0 p.u. and the impedance of the electric arc is neglected (Zf-0+)0p.u). The positive, negative and zero sequence impedance parameters of the generator, transmission lines and tran...
1 answer
1. Assume an goods and services market of an economy is characterized by the following equations:...
1. Assume an goods and services market of an economy is characterized by the following equations: C = 0.8 (Y - T) I = 800 -20r Y=C+I+G T = 1000 G = 1000 a) Consider for the moment the Keynesian Cross model. What will happen to the GDP if G increases by 200? What is the multiplier? b) Keep considerin...
1 answer
Music Class QUESTION 7 What is noise? O a mousiké O b.a scientific term O c....
Music Class QUESTION 7 What is noise? O a mousiké O b.a scientific term O c. background sound O d. geometric series O e. unwanted sound QUESTION 8 Not every society or culture in the world has a specific word that denotes music. True Ob. False QUESTION 9 Today's industrial cities incr...