Companies variable-costing net income

Assignment Help Accounting Basics
Reference no: EM13128687

The company plans on producing 40,000 units and actually did, Sales totaled 37,000 at $42 each. Costs:

Fixed manufacturing o/head $240,000
Fixed selling and adm costs $140,000
Variable manuf. cost per unit 19
Variable selling and admin cost per unit 7

The companies variable-costing net income would be:

a. $155,000

b. $212,000

c. $240,500

d. $592,000

E. Other amount

Reference no: EM13128687

Questions Cloud

Functions and euler method : Find the solution of the following equations: Use the Euler method with the step size shown to advance four steps from the given initial condition with the given differential equation:
How to prepare the company entries to record : Gordeeva Corporation began selling goods on the installment basis on January 1, 2010. During 2010, Gordeeva had installment sales of $179,000; cash collections of $77,300; cost of installment sales of $121,720.
Confidence interval-population proportion of positive drug : Construct a 95 percent confidence interval for the population proportion of positive drug tests. Why may you assume that this is a normal distribution?
What is the vapor pressure depression of a solution : The vapor pressure of pure water at 70°C is 240. mm Hg. What is the vapor pressure depression of a solution of 150. g of the antifreeze ethylene glycol, C2H6O2, a nonvolatile compound, in 215 g of water?
Companies variable-costing net income : The company plans on producing 40,000 units and actually did, Sales totaled 37,000 at $42 each. Costs: The companies variable-costing net income would be:
What decision make based on expected utility approach : What decision would you make based on the expected utility approach? In this case are you a risk taker or a risk avoider?
Draw a budget constraint and an indifference curve : Draw a budget constraint and an indifference curve for an individual who works in period one and is retired (earns no income) in period two. He consumes some of his income in period 1 and saves the rest of his income for period 2.
What volume of n2o3 will be produced : At a certain temperature and pressure 2.8 L of N2 reacts with 4.2 L of O2. If all the N2 and O2 are consumed, what volume of N2O3, at the same temperature and pressure.
Proofread and correct grammar : Proofread and correct grammar.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Journals and ledger processing transactions

How are journals and ledger used in processing transactions? If a manufacturing company were to maintain special journals for purchases, sales, cash receipts, and cash disbursements, describe five journal entries that an AIS might make directly to..

  Preparing the required journal entries

a) prepare the journal entries for Myers Co. for 12/31/2010 b) Prepared the required journal entries for for Myers for 2011.

  Generally accepted accounting principles-operating budget

Explain generally accepted accounting principles applied to the health care industry and how they are applied to your Operating Budget Projection.

  Cash proceeds at the time of bond

Interest has not been accrued since the last interest payment date. What is the entry to record the cash proceeds at the time the bond is sold?

  Calculate the number of bags of green fertilizer

Donald Tweedt started a company to produce and distribute natural fertilizers. Donald's company sells two fertilizers that are wildly popular: green fertilizer and compost fertilizer.

  Why the difference in price

consider two bonds. One is maturing in 5 years and one matures in 10 years. Each has a coupon of 8% paid annually. Each is priced to yield 9% as follows: 5 years $961.10 and 10 years $935.82. Why the difference in price?

  Gain or loss-basis in new property

Determine Debbie's and Elizabeth's realized gain or loss, recognized gain or loss, and the basis in their new property.

  Preparation of adjustment entries and balance sheet

The Chandler Corporation began business on January 2, 2007. It is now time for Chandler to prepare its financial statements for 2007. The bookkeeper at Chandler was able to complete the asset section of the balance sheet, but he needs your help to..

  Predetermined overhead rate for the specific year

At the end of the year, actual direct labor-hours for the year were 17,400 hours, manufacturing overhead for the year was overapplied by $13,850, and the actualmanufacturing overhead was $294,130. The predetermined overhead rate for the year must ..

  Liability insurance-expected after tax earnings

Suppose that the Lai Jean Co. expects before tax earnings of 5 million this coming year, assuming no liability losses. However, there is a 2 percent chance that Lai will lose a $10 million lawsuit during the year.

  Prevent improper claims

Please describe the procedure used in either case and do you think there was sufficient internal control to prevent improper claims?

  Investments section of the balance sheet

(a) Common stock of E Company (10% ownership) held as available-for-sale securities, cost $120,000, fair value of $115,000 & (b) common stock of F Company (30% ownership) cost $215,000, equity of $250,000. Prepare the investments section of the ba..

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