Reference no: EM131728017
Question - Betty DeRose, Inc. began its operations on January 1, 2018. Betty produces a single product and reported the following cost information for 2018 and 2019:
2018 2019
Variable costs per unit:
Direct materials $15 $19
Direct labor ? $16
Variable overhead $6 $8
Variable selling $3 $7
Fixed costs in total:
Fixed overhead ? $207,000
Fixed selling ? $108,000
In 2018, Betty produced 21,000 units and sold 14,000 units. In 2019, Betty produced 23,000 units and sold 27,000 units. The selling price per unit was $70 in both years.
Using absorption costing, Betty's 2018 net income was $287,000 and its finished goods inventory at December 31, 2018 totaled $301,000.
Using variable costing, Betty's 2018 gross profit was $448,000.
Calculate the dollar amount of Betty's finished goods inventory that would appear on the December 31, 2019 balance sheet using absorption costing. Assume Betty employs a weighted average inventory cost flow assumption. Do not use decimals in your answer.
|
Demand for euro go up or down
: When we purchase German products, does our demand for euro go up or down? What are freely floating exchange rates all about, and how do they work?
|
|
Who supplies the us dollar
: Who demands the U.S. dollar? Who supplies the U.S. dollar? When we purchase German products, does our demand for euro go up or down?
|
|
Discuss dehydration and paranoia due to excessive game play
: With her encouragement, James continued to play Donkey Kong, sometimes for as many as 20 hours a day, and finally beat Steve Weibe's high score
|
|
Would you ever consider moving to another country
: Would you ever consider moving to another country to retire and What other options are there if you have not saved enough
|
|
Calculate dollar amount of betty finished goods inventory
: Calculate the dollar amount of Betty's finished goods inventory that would appear on the December 31, 2019 balance sheet using absorption costing
|
|
Events affects stock prices
: Using an IS-LM model, illustrate and explain how each of the following events affects stock prices. If the effect is ambiguous, explain what additional.
|
|
What dollar amount should be deducted from the balance
: You are doing a bank reconciliation for May, 2010. What dollar amount should be deducted from the balance per bank statement
|
|
List and explain the constitutional limitations
: List and explain the "constitutional limitations" when drafting a "criminal statute". EBHFDE
|
|
How important is the time value of money
: How important is the time value of money? A recent search on one web engine returned more than 791 million hits! It is important to understand the calculations.
|