User Account

All Pages

Compute the amount of operating income

Assignment Help Accounting Basics
Reference no: EM132519907

Question - A business operated at 100% of capacity during its first month, with the following results:

Sales (112 units) $660,800

Production costs (140 units): Direct materials $89,291

Direct labor 22,798

Variable factory overhead 39,896

Fixed factory overhead 37,995 189,980

Operating expenses: Variable operating expenses $5,182

Fixed operating expenses 4,819 10,001

Required - Compute the amount of operating income that would be reported on the absorption costing income statement?

a. $660,660

b. $529,211

c. $498,816

d. $534,030

Reference no: EM132519907

Questions Cloud

How should the institute record transaction : As of the end of the Cancer Institute's fiscal year (December 31), no title to the building was received by the institute. How the institute record transaction
Identifying various structures of a dissected specimen : In this assessment you will be completing a similar virtual activity. For each labelled part name it and provide a brief description of its function.
Analyze the events in thetrial and death of socrates : Explain How Socrates defined the soul and the implications for how we should live our lives. analyze the events in thetrial and death of Socrates
Focus on movement of traditional IT staff : Focus on the movement of traditional IT staff. To facilitate cultural assimilation, IT and non-IT must become more integrated.
Compute the amount of operating income : Production costs (140 units): Direct materials $89,291. Compute the amount of operating income that would be reported on the absorption costing income statement
Have people run into any of the system archetypes : What are some factors you see limiting the growth within your work or personal life? Have you run into any of the system archetypes
Discuss what sysptins are associated with anaphylactic : Discuss what sysptins are associated with anaphylactic show and how the nurse differentiates these from other conditions or issues.
Discuss characteristics findings of immune dysfunction : Explain what symptomology the patient would exhibit and how these symptoms may complicate daily living and relationships.
Create step-by-step IT security policy : Create a step-by-step IT security policy for handling user accounts/rights for a student who is leaving prematurely (drops, is expelled, and so on).

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare the necessary journal entries for rich

Prepare the necessary journal entries for Rich, Inc. from January 1, 2012 through July 1, 2013.

  Provide for key person insurance in the cash flow statement

As a member of FASB, determine the guidance you would provide for key person insurance in the cash flow statement

  Prepare the journal entries to record the following

(Entries for Bond Transactions-Effective-Interest) Assume the same information as in E14-4, except that Foreman Company uses the effective-interest method of amortization for bond premium or discount.

  Determine the size of the annual deposit

You wish to make equal annual end of year deposits in an account paying annual interest of 6%. Determine the size of the annual deposit

  What was the amount of its ending inventory

During the year, the company recorded inventory purchases of $9,000 and cost of goods sold of $10,000. What was the amount of its ending inventory

  Goal to create fund of 500000 in 25 years accumulating this

goal to create fund of 500000 in 25 years accumulating this by making equal deposits ending in 24 years what annual

  Difference between the scatterplot

(a) What is the difference between the scatterplot of Y on X and the scatterplot of Y on D? (b) Does the regression of Y on D have the same R2 as the regression of Y on X? (c) In the regression of Y on X, what is the fitted value for men? For ..

  Determine cost to cost of goods sold using weighted average

Refer to Exercise and assume the periodic inventory system is used. Determine the costs assigned to ending inventory and to cost of goods sold.

  Prepare a retained earnings statement for the year

Whispering Winds Company ended its fiscal year on July 31, 2019. Prepare a retained earnings statement for the year. Prepare an income statement for the year

  What conclusions can be drawn from these data

What conclusions can be drawn from these data as to the company's ability to meet its currently maturingdebts?

  What is systems development life cycle

Evaluate what is Systems Development Life Cycle methodology and how it applies to the American Lafrance Backrupcy case?

  Calculate present value

Calculate the amount that would have been used if the operating leases were treated like capital leases, calculate present value

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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