Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Problem - The following absorption costing income statement and additional data are available from the accounting records of Bernon Co. for the month ended May 31, XXXX. During the accounting period, 17,000 units were manufactured and sold at a price of $60 per unit. There were no beginning inventories.
Bernon Co. Absorption Costing Income Statement for the Month Ended May 31, XXXX
Sales (17,000 @ $60)
$1,020,000
Cost of goods sold
612,000
Gross profit
$ 408,000
Selling and administrative expenses
66,000
Income from operations
$ 342,000
Additional Information:
Cost
Total Cost
Number of Units
Unit Cost
Manufacturing costs:
Variable
$442,000
17,000
$26
Fixed
170,000
10
Total
$612,000
$36
Selling and administrative expenses:
Variable ($2 per unit sold)
$34,000
32,000
$66,000
Required - Prepare a new income statement for the year using variable costing. Comment on the differences, if any, between the absorption costing and the variable costing income statements.
Eagle corp owns stock in hawk corp and has taxable income of $ 100,000 for the tax year, What amount of dividends received deduction may eagle claim
At the beginning of the year, Albers, Inc., has total stockholders' equity of $840,000 and 40,000 outstanding shares of a single class of capital stock.
chang corp. had 500000 shares of common stock outstanding. during 2012 it had the following transactions that affected
A company has three separate divisions. Based on the capital invested, Division A made 10 cents per dollar, Division B made 20 cents per dollar.
How much of the purchase price was assigned to television rights? Can the value assignable to television rights be amortized? If so, what is the expected life
Determine the net present value of cash flows from a Master's of Accountancy degree, assuming no salary is to be earned during the graduate year of schooling
During 2014, 80,000 tons were extracted, of which 60,000 tons were sold.
Cash from Investing Activities
on june 23 2008 mikhal cosmetics sold 250000 worth of its products to rynex corporation with the payment to be made
What is the cost of the raw materials used in June for each of the three jobs and in total
Based on this information, determine Simon's net capital gain or net capital loss for the year ended 30 June 2016
terrel gifts produces logo platters and cups bearing the name of the city in which the items will be sold to tourists.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd