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!
Question: Whitman Company has just completed its first year of operations. The company's absorption costing income statement for the year appears below:
Whitman Company Income Statement
Sales (41,000 units × $45.10 per unit)
$1,849,100
Cost of goods sold (41,000 units × $20 per unit)
820,000
Gross margin
1,029,100
Selling and administrative expenses
430,500
Net operating income
$598,600
The company's selling and administrative expenses consist of $307,500 per year in fixed expenses and $3 per unit sold in variable expenses. The $20 per unit product cost given above is computed as follows:
Direct materials
$10
Direct labor
4
Variable manufacturing overhead
2
Fixed manufacturing overhead ($180,000 ÷ 45,000 units)
Absorption costing unit product cost
$20
Prepare the company's income statement in the contribution format using variable costing.
Reconcile any difference between the net operating income on your variable costing income statement and the net operating income on the absorption costing income statement.
a retail outlet changed its computation for bad debt expense from 1 to frac12 of 1 of sales because of changes in its
An overstament of understatement of more than $150,000 is considered material. Calculate the required sample size
Prepare a three-column comparative income statement that reports the Annual income without the special order - Should Calla accept the order?
an 8-year project is estimated to cost 400000 and have no residual value. if the straight-line depreciation method is
suppose that drake corporation produced and sold 5000 laptop computers during 2010. it reported 270000 cash provided by
Assume that the fair value of the bonds at December 31, 2014, was $1,430,000. These bonds are classified as available-for-sale securities. Prepare the adjusting entry to record these bonds at fair value.
welnor industrial gas corporation supplies acetylene and other compressed gases to industry. data regarding the stores
Which of these represent indirect costs of financial distress? Court fees paid to a bankruptcy court. A firm's supplier requiring payment in cash rather than offering its normal credit terms. Cost of a manager's time spent renegotiating the terms of ..
the capital project fund has just been created to account for resources received and expended for the construction of a
What's the present value of a $660 annuity payment over five years if interest rates are 9 percent
Operating data for Navarro Corporation are presented below. Prepare a schedule showing a vertical analysis for 2017 and 2016
show all calculations and answers in organized way. adam beck chemical co. uses an average cost processing system. all
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