Prepare an income statement under absorption costing

Assignment Help Financial Accounting
Reference no: EM133131648

Question - Wifi Apps has these costs associated with its production and sale of devices that allow visual communications between cell phones:

Beginning inventory $0

Units produced 33,000

Units sold 23,000

Selling price per unit $170

Variable sales and administration expenses $4

Fixed sales and administration expenses $895,000

Direct material cost per unit $23

Direct labor cost per unit $15

Variable manufacturing overhead $4

Cost per unit

Fixed manufacturing overhead $858,000

Cost per month

Required - Prepare an income statement under bath the absorption and variable costing methods along with a reconciliation between the two statements.

Reference no: EM133131648

Questions Cloud

Socialization-personal aspects of employees lives : Should criminal justice managers be concerned with the personal aspects of employees' lives?
Calculate mr joseph tax payable : During the year he paid quarterly estimated tax totaling $80,000. Using the current tax rates in Jamaica. Calculate Mr. Joseph's tax payable/refundable
History of the philippines shaped the filipinos : Write an essay about how the history of the Philippines shaped the Filipinos today. (300 words)
How would acceptance of the special order affect net income : Assuming the company has sufficient capacity to produce the additional units, how would acceptance of the special order affect net income
Prepare an income statement under absorption costing : Prepare an income statement under bath the absorption and variable costing methods along with a reconciliation between the two statements
How livelihood strategies interact with the institutional : Describe how livelihood strategies interact with the institutional and government goals.
What is water current e-p for this year : Taxable income includes a deduction for $40,000 of depreciation that exceeds the de-preciation allowed for E&P purposes. What is Water current E-P for this year
Describe and analyze the clashes : Describe and analyze the clashes and compromises that occurred during the drafting of the Constitution of the United States. What was the conflict between the "
Apply the strategic management concepts : Apply the strategic management concepts that arelearned from the course. Consider the below guidelines and instructions to write your project

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

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