User Account

All Pages

Formulate an income statement using absorption costing

Assignment Help Accounting Basics
Reference no: EM131744096

Problem - During the most recent year, Blessing Corp. had the following data:

Beginning inventory in units 0

Units produced 15,400

Units sold ($ 130 PER UNIT) 8,200

Variable costs per units:

Direct Materials $13

Direct labor $17

Variable overhead $10

Fixed costs:

Fixed overhead per unit produced $23

Fixed selling and administrative $185,000

A) How many units are in ending inventory?

B) Using absorption costing, calculate the per unit product cost. What is the value of ending inventory?

C) Using variable costing, calculate the per unit product cost. What is the value of ending inventory?

D) Formulate an income statement using absorption costing.

E) Formulate an income statement using variable costing.

Reference no: EM131744096

Questions Cloud

What higher authority quote most aligns : What ethical framework do you think each of the actors in your chosen articles were using to make their decisions
What are possible fraud symptoms in the given case : John is the manager of a small computer sales and support chain. He has stores located throughout the state of California and is in strong competition.
Discuss about a closed internal recruitment system : Compare and contrast a closed internal recruitment system with an open internal recruitment system.List the characteristics necessary for an effective promotion
Classify each control as preventive-detective or corrective : Describe the controls that an organization can employ to deal with kickbacks. Classify each control as preventive, detective, or corrective.
Formulate an income statement using absorption costing : Formulate an income statement using absorption costing. Using absorption costing, calculate the per unit product cost. What is the value of ending inventory
Statements regarding the classroom management : statements regarding the classroom management as a whole
Describe the products sold by the company to consumers : Select a business involved in e-commerce and create a written report addressing the following about the company's business model.
How the inventory process relates to the revenue : Describe how the inventory process relates to the revenue and purchasing processes
Discuss the organizations internal strength and weaknesses : Your observation of the organization's Internal Strength and Weaknesses, External Opportunities and Threats

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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