Business, 16.05.2020 06:57 mikestarjo2173
An incomplete absorption costing income statement and an incomplete variable costing income statement for April 2016 appear below. Standards allow 2 pounds of material per unit of output, 5 direct labor hours per unit of output, and $.60 per direct labor hour in variable overhead cost. Absorption Costing Income Statement Current Year Variable Costing Income Statement Current Year Sales (1500 units) Sales $18,750 Less: COGS: Less: Variable Costs: BI -0- DM & DL VOH applied 4,950 FOH applied Available for sale: Less: EI $1,398 Unadjusted COGS Adjustments: All VC variances Production volume variance -$504 FOH price variance -$46 Adjusted COGS $13,781 Gross margin BI Variable costs $12,406 Available for sale Less: EI Mfg. costs before adjustments: Adjustments: Adj. Var. COGS: Other Var. Costs $2025 Total variable cost Contribution margin Less Period Costs: Less: Fixed costs: Variable Fixed $525 Net Income $2,419 Manufacturing Other Net Income
1. Gross margin: $
2. Goods available for sale: $ $
3. Direct labor hours:
4. Units Manufactured:
5. All variable cost variances:$
6. Variable cost net income: $
7. Budgeted FOH application rate: $
8. Units in ending inventory:
9. Variable nonmanufacturing costs: $
10. Unit selling price:
Answers: 3
Other questions on the subject: Business
Business, 22.06.2019 06:00, Wocking310
Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)
Answers: 1
Business, 22.06.2019 19:30, kylierice1
Exercise 4-9presented below is information related to martinez corp. for the year 2017.net sales $1,399,500 write-off of inventory due to obsolescence $80,440cost of goods sold 788,200 depreciation expense omitted by accident in 2016 43,600selling expenses 65,800 casualty loss 53,900administrative expenses 53,500 cash dividends declared 43,300dividend revenue 22,100 retained earnings at december 31, 2016 1,042,400interest revenue 7,420 effective tax rate of 34% on all items exercise 4-9 presented below is information relateexercise 4-9 presented below is information relate prepare a multiple-step income statement for 2017. assume that 61,500 shares of common stock are outstanding. (round earnings per share to 2 decimal places, e. g. 1.49.)prepare a separate retained earnings statement for 2017. (list items that increase retained earnings first.)
Answers: 2
Business, 22.06.2019 20:00, mooneyhope24
Experienced problem solvers always consider both the value and units of their answer to a problem. why?
Answers: 3
Business, 23.06.2019 10:20, ineedhelp2285
Assume you plan to start a new enterprise; you know the probability of having losses for the first three years of operations is almost 90 percent, and you know you will report a substantial amount of income from other sources during those same three years. from a tax perspective, which of the following entity choices would not allow you to offset the entity losses against your income from other sources? c corporation s corporation llc general partnership
Answers: 1
You know the right answer?
An incomplete absorption costing income statement and an incomplete variable costing income statemen...
Questions in other subjects:
Mathematics, 18.10.2019 01:30
Biology, 18.10.2019 01:30
Chemistry, 18.10.2019 01:30
Mathematics, 18.10.2019 01:30
English, 18.10.2019 01:30
