User Account

All Pages

Determine the per-unit variable cost

Assignment Help Financial Accounting
Reference no: EM132841462

Problem 1: Morris Company reported sales of $130,000 (15,000 units). Fixed costs amounted to $12,000 and income for the period was $70,000. Determine the per-unit variable cost.

Select one:

a. $4.66

b. $2.00

c. $3.20

d. $7.86

Problem 2: Which of the following statements concerning job cost sheets is incorrect?

Select one:

a. A job cost sheet would show the direct materials used on that specific job

b. A job cost sheet would reveal the selling costs associated with a particular job

c. The total costs recorded on a job cost sheet should also be reflected in the Work in Process account in the general ledger

d. The amount of overhead on a job cost sheet is the applied factory overhead rather than the actual factory overhead

 

Reference no: EM132841462

Questions Cloud

Describe the individual characteristics of strategic leaders : Describe the individual characteristics of strategic leaders and their impact on leadership style. Contrast the four strategic leadership types.
Allocate the support service costs using sequential method : Allocate the support service costs using the sequential method. The support departments are ranked in order of highest cost to lowest cost
Examine in detail for the selected company with examples : 1. Examine in detail for the selected company with examples, importance of international trade research in increasing the chances of international business succ
What were reasons the consultant was engaged : What were the reasons the consultant was engaged? What do you think the consultant did well? What could he or she have done better?
Determine the per-unit variable cost : Which statements concerning job cost sheets is incorrect? Fixed costs amounted to $12,000 and income for period was $70,000. Determine the per-unit variable?
Discuss benefits for teaching and learning : Discuss one or two challenges and benefits for teaching and learning associated with the curriculum design and alignment process.
Find the optimal solution to the lp relaxation problem : 1. Find the optimal solution to the LP relaxation problem using graphical approach.
Working as sales marketing representative : Working as sales marketing representative for best buy enterprise - What challenges have you encountered? You might like to reflect here on how you feel
Implementing a business intelligence system : Mention at least three ethical and / or legal aspects that should be considered when implementing a Business Intelligence system.

Reviews

Write a Review

Financial Accounting Questions & Answers

  What are the journal entries runway

How should the $25 Referral Credit be recorded in Runway's income statement and What is the relevant accounting guidance it would follow under IFRSs

  Describe two iasb-aasb accounting standards

Discuss and describe two IASB - AASB accounting standards and the liability measurement approaches suggested, and the application to your selected annual report.

  Calculate amount of net income-use weighted average method

ABC Company employs a periodic inventory system and sells its inventory to customers for $20 per unit. ABC Company had the following inventory information available for the month of May: Calculate the amount of NET INCOME reported on ABC Company's in..

  Contribution margin cost

Contribution Margin Cost-Volume-Profit Analysis and Break-even Point

  Prepare the relevant journal entries for tam co

In 2020, an employee informs TAM Co. that he will be taking 6 months paternity leave. Prepare the relevant journal entries for 2020 for TAM.

  Do think that the compliance with ifrs is essential

Do you think that the compliance with IFRS is essential to harmonize accounting standards globally? What are the reasons for noncompliance with IFRS?

  Schedule of variable-fixed and total manufacturing costs

A manufacturer of plastic? products, reports the following manufacturing costs and account analysis classification for the year ended December? 31, 2014. Prepare a schedule of? variable, fixed, and total manufacturing costs for each account category ..

  Evaluate the amount and character of robby''s deductions

Evaluate the amount and character of Robby's deductions for this vacation home considering the cost allocation method that the IRS prefers is used.

  How much will income before income taxes be

Proper correcting entries were made at December 31, 20x1. By how much will 20x2 income before income taxes be overstated or understated?

  What is the annual cost of goods sold

What is the annual cost of goods sold? (Use 365 days in a year. Do not round intermediate calculations. Round your answer to whole number.)

  An element of just-in-time processing

An element of just-in-time processing is

  Which is not regarded as other comprehensive income

Which is not regarded as other comprehensive income? Exchange differences on translating foreign operations./ Taxation on holding gains

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