Calculate the difference in full costing net income

Assignment Help Managerial Accounting
Reference no: EM132873505

Question - Canarie Manufacturing produces snow shovels. The selling price per snow shovel is $29.00. There is no beginning inventory.

Costs involved in production are:

Direct material $4.00

Direct labor 4.00

Variable manufacturing overhead 3.00

Total variable manufacturing costs per unit $11.00

Fixed manufacturing overhead per year $233,550

In addition, the company has fixed selling and administrative costs of $162,400 per year.

During the year, Canarie produces 51,900 snow shovels and sells 46,500 snow shovels.

Calculate the difference in full costing net income and variable costing net income without preparing either income statement. Difference in net income.

Reference no: EM132873505

Questions Cloud

What is the cost per hour allocation rate : From the production schedule, ABC likely will only use Peter for 150 hours. What is the cost per hour allocation rate that ABC would use for the other option
Impact the decision-making process for growth : Discussing the external forces that can impact the decision-making process for growth.
What are the current and long-term portions of notes payable : Assuming the bank loan is the hospital's only debt, what are the current and long-term portions of notes payable that would be shown on the balance
What is weighted average cost of capital for a company : What is their weighted average cost of capital? Expected growth rate of 16% per year. Current yield to maturity - 20%. Market value of debt - $300 million.
Calculate the difference in full costing net income : Calculate the difference in full costing net income and variable costing net income without preparing either income statement. Difference in net income
Management of supplier organization and related activities : Describe some of the challenges associated with the management of supplier organization and related activities.
LGL-507-2101 Civil Procedure Assignment : LGL-507-2101 Civil Procedure Assignment Help and Solution, National Juris University - Assessment Writing Service - determine the appropriate jurisdiction
Record John admission in the partnership : Andrew and Jess have capital balances of P 400,000 and P 300,000 respectively, as of December 31, 20x1. Record John's admission in the partnership
Prepare the general journal entries required to establish : Prepare the general journal entries required to establish the petty cash fund on October 1 and to replenish the fund on October 31.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Make balance scoreboard for iaa for november

Make balance scoreboard for IAA for November 2017 with calculated key performance indicators presented in two columns for planned performance

  What are the two impacts on costs as sales volume decreases

What are the two impacts on costs as sales volume decreases? Total variable costs will increase in direct proportion/Variable costs per unit will stay the same

  What friendly retirement of the bonds would result

The corporation's bond certificates indicated that the bonds could be retired early at 103. Friendly's retirement of the bonds would result in a(n)

  Create a comprehensive master budget

Create a comprehensive Master budget and a 2-3 page executive summary for The Bottled Water Company.

  Calculate fixed overhead spending for november

Calculate fixed overhead spending and volume variances for November. HypoVereins Ltd budgets for 2,000 units for Z12 per month.

  Compute Ks sales revenue and cost of goods sold

Assume that Clarion sold all of its production of K during the current accounting period. Compute K's sales revenue, cost of goods sold, and gross margin

  Determine which cost separation methods is being used

Determine which of the following cost separation methods is being used: the high-low method, the scattergraph method, or the method of least squares.

  Determine the balance of work in process-rolling at the end

Determine the balance of Work in Process-Rolling at the end of the period. The cost of materials transferred into the Rolling Department

  Calculate the producer surplus

Calculate the producer surplus and show your calculations. Calculate the equilibrium price and equilibrium quantity. Please show your calculations.

  Develop a rough estimate for each division cost of capital

What problems might you encounter? What are the two techniques you could use to develop a rough estimate for each division's cost of capital?

  Determine amount of bond interest expense to be recognized

If the corporation uses the straight-line method of amortization of bond premium, determine the amount of bond interest expense to be recognized on July 1.

  What is the additional number of rooms

What is the additional number of rooms that the management has to sell beyond break even analysis (BE) point to reach at the desired profit level?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd