## Answers

Construct The Absorption Costing Unit Product Cost | ||||||

Direct Material | 31 | |||||

Direct labour | 39 | |||||

Variable Manufacturing overheads | 13 | |||||

Fixed Manufacturing overheads | 15.00 | (420000/28000) | ||||

Absorption costing unit prroduct cost | 98.00 | |||||

Construct the Absorption Costing Income Statement | ||||||

Year 1 | ||||||

Sales | $6,356,000 | |||||

Cost of Goods sold | 2744000 | |||||

Gross Margin | $3,612,000 | |||||

Selling and distribution expense | 1,034,000 | |||||

Net operating income | 2,578,000 | |||||

Compute the Variable costing Unit Product cost | ||||||

Direct Material | 31 | |||||

Direct labour | 39 | |||||

Variable Manufacturing overheads | 13 | |||||

Variable costing unit prroduct cost | 83 | |||||

Construct The Variable Costing Income Statement | ||||||

YEAR 1 | ||||||

Sales | 6,356,000 | |||||

Less: Variable cost | ||||||

variable cost of goods sold | 2,324,000 | |||||

Variable selling expense | 812,000 | 3,136,000 | ||||

Contribution margin | 3,220,000 | |||||

Fixed expense: | ||||||

Fixed Manufacturing overheads | 420,000 | |||||

Fixed selling expense | 222,000 | |||||

Net operating Income | 2,578,000 | |||||

#### Similar Solved Questions

1 answer

##### Python please. thanks Write a class named Circle that holds the radius of a circle in...

Python please. thanks Write a class named Circle that holds the radius of a circle in a private variable. As part of it's public interface, include a an initializer method that initializes the radius to 0. Include an accessor and mutator for setting and getting the radius. Finally, include a me...

1 answer

##### The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information...

The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Tota...

1 answer

##### 1. a) A student hangs three masses from a force table. If the first mass of...

1. a) A student hangs three masses from a force table. If the first mass of 250 g is at an angle of 130°, and she then hangs a mass of 205 g at 225°, calculate the mass and angle of the third mass so that the ring on the force table is in equilibrium? For maximum credit, show your work. Assu...

1 answer

##### Please be neat and show all work :) What are the principal stresses at point A...

please be neat and show all work :) What are the principal stresses at point A of the prismatic cantilever beam located on the cross-section a-a? 400 KN 0.5 m 300 mm 100 mm 100 mm...

1 answer

##### On the fastest speedways some drivers reach average speeds of 4 miles per minute

On the fastest speedways some drivers reach average speeds of 4 miles per minute. Write a formula that gives the number of miles m that such a driver would travel in x minutes. How far would this driver travel in 36 minutes?...

1 answer

##### 3 points) What is the present value of $25,000 to be received at the end of...

3 points) What is the present value of $25,000 to be received at the end of each year orever if the required rate of return is 8%?...

1 answer

##### Problem 2: You have $1,000,000 worth of equipment at the job site and wish to minimize...

Problem 2: You have $1,000,000 worth of equipment at the job site and wish to minimize your risk of direct property damage by taking out an insurance policy. The insurance company provides you with its statistical data as shown below: If the insurance company uses expected value to calculate premium...

1 answer

##### Q5. Suppose a missile is launched from an initial height of 20 meters with an initial...

Q5. Suppose a missile is launched from an initial height of 20 meters with an initial velocity of 500 m/s at an initial angle of 60° to the horizontal (Assume g = 10m/s) Compute: (i). The components of the initial velocity (ii). The velocity vector at t = 10 sec (iii). Angle of orientation of mi...

1 answer

##### Problem 2-3 (Algo) Adjusting entries [LO2-6] Pastina Company sells various types of pasta to grocery chains...

Problem 2-3 (Algo) Adjusting entries [LO2-6] Pastina Company sells various types of pasta to grocery chains as private label brands. The company’s reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Account Title Debits Credits Cash 33,...

1 answer

##### If you understand how the above recursive algorithm to compute yz works, you can turn it...

If you understand how the above recursive algorithm to compute yz works, you can turn it into a more efficient iterative algorithm that basically uses the same strategy (though it is not a tail recursive algorithm). Some parts of this iterative algorithm is given below. Fill in the blanks: Power-ite...

1 answer

##### ONLY 5-11 BELOW A5-10. Suppose the following aggregate expenditure model describes an economy: C = 100...

ONLY 5-11 BELOW A5-10. Suppose the following aggregate expenditure model describes an economy: C = 100 + (5/6)Yd T = (1/5)Y I = 200 G = 400 X = 300 IM = (1/3)Y where C is consumption, Yd is disposable income, T is taxes, Y is national income, I is investment, G is government spending, X is exports, ...

1 answer

##### Three months ago, you purchased a stock for $67.16. The stock is currently priced at $72.62....

Three months ago, you purchased a stock for $67.16. The stock is currently priced at $72.62. What is the EAR on your investment? A. 32.52% B. 8.13% C. 29.81% D.36.70% E. 40.04%...

1 answer

##### Answer the questions below about the highlighted atom in this Lewis structure: H-C-C=C-H H In how...

Answer the questions below about the highlighted atom in this Lewis structure: H-C-C=C-H H In how many sigma bonds does the highlighted atom participate? In how many pi bonds does the highlighted atom participate? X 5 ? What is the orbital hybridization of the highlighted atom?...

1 answer

##### The balance sheet for Sinking Ship Corp. is shown here in market value terms. There are...

The balance sheet for Sinking Ship Corp. is shown here in market value terms. There are 5,000 shares of stock outstanding. Market Value Balance Sheet $ 44,800 Equity 420,000 Cash Fixed assets $464,800 Total $464,800 Total 464,800 The company has declared a dividend of $1.70 per share. The stock goes...

1 answer

##### On August 31, the balance sheet of Bridgeport Veterinary Clinic showed Cash $12,000, Accounts Receivable $4,700,...

On August 31, the balance sheet of Bridgeport Veterinary Clinic showed Cash $12,000, Accounts Receivable $4,700, Supplies $ 600, Equipment $6,000, Accounts Payable $6,600, Common Stock $15,950, and Retained Earnings $750. During September, the following transactions occurred. 1. 2. 3. 4. 5. 6. 7. 8....

1 answer

##### Kz (a) (10 pts.) Evaluate the integral dz. Hint: consider the rectangle with vertices at R and R+...

kz (a) (10 pts.) Evaluate the integral dz. Hint: consider the rectangle with vertices at R and R+π. Show that the integral along the vertical segments vanishes as R -> oo, while the integral along the top segment is a constant multiple of the integral along the bottom segment. (b) (2 pts.) Usi...

1 answer

##### 5. On day 2 of his hospital stay, Mr. Abdul begins to complain of increased muscle...

5. On day 2 of his hospital stay, Mr. Abdul begins to complain of increased muscle weakness and cramping. Assessment findings include an irregular apical pulse and hypoactive bowel sounds. Provide a possible explanation for these findings and identify appropriate nursing action....

1 answer

##### Which of these curves is the competitive firm's short-run supply curve? . Select one: a. the...

Which of these curves is the competitive firm's short-run supply curve? . Select one: a. the average total cost curve above marginal cost n b. the marginal cost curve above average variable cost C. the average variable cost curve above marginal cost O d. the average fixed cost curve...