Income statement under absorption costing

Reference no: EM13980780

Slams Inc., a manufacturer of tennis rackets, began operations this year. The company produced 6,000 rackets and sold 4,900. Each racket was sold at a price of $90. Fixed overhead costs are $78,000 and fixed selling and administrative costs are $65,200. The company also reports the following per unit costs for the year

Prepare an income statement under absorption costing:

Reference no: EM13980780

Questions Cloud

How does ethernet over telephone copper pairs operate : Ethernet in the first mile (EFM) was released with the aim of extending Ethernet to the local loop for both residential and business customers. Answer the four parts below about EFM. How might metro Ethernet benefit from the use of Ethernet in the..

Amortization schedule set up : Amortization Schedule Set up an amortization schedule for a $35,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 10%. Round your answers to the nearest cent. Enter "0" if required

Question regarding the quantity discount : If Ping Wang, the owner, orders in quantities of 300 or more, he can get a 5% discount on the cost of the detectors. Should Wang take the quantity discount?

Calculate the depreciation expense : You are given the following information for Gandolfino Pizza Co.: sales = $51,000; costs = $22,700; addition to retained earnings = $7,600; dividends paid = $2,800; interest expense = $5,100; tax rate = 35 percent. Calculate the depreciation expense.

Income statement under absorption costing : The company also reports the following per unit costs for the year-Prepare an income statement under absorption costing:

Community hospital has annual net patient revenues : Community Hospital has annual net patient revenues of $150 million. At the present time, payments received by the hospital are not deposited for six days on average. The hospital is exploring a lockbox arrangement that promises to cut the six days to..

Depreciated straight-line to zero over eight-year tax life : Consider an asset that costs $624,000 and is depreciated straight-line to zero over its eight-year tax life. The asset is to be used in a five-year project; at the end of the project, the asset can be sold for $173,000. If the relevant tax rate is 35..

Different areas of operation : Olympic Limited is a diversified industrial company with many different areas of operation. The following information relates to the company's property, plant and equipment. The company has a 30th September year end.

What would be the normal force exerted by the banked road : What would be the normal force exerted by the banked road on the car. At what angle should the road be banked for the car to travel without slipping up or down the road?

User Account

All Pages