Reference no: EM131821935
Question: Absorption and Variable Costing The Twin Lakes Company had the following actual data for 20X0 and 20X1:
![2308_OI.png](https://secure.expertsmind.com/CMSImages/2308_OI.png)
The basic production data at standard unit costs for the 2 years were as follows:
Fixed factory overhead was budgeted at $146,000 per year. The expected volume of production was 14,600 units so the fixed overhead rate was $146,000 ÷ 14,600 = $10 per unit. Budgeted sales price was $79 per unit. Selling and administrative expenses were budgeted at variable, $11 per unit sold, and
fixed, $83,000 per year. Assume that there were absolutely no variances from any standard variable costs or budgeted selling prices or budgeted fixed costs in 20X0. There were no beginning or ending inventories of work in process.
1. For 20X0, prepare income statements based on standard variable (direct) costing and standard absorption costing. (The next problem deals with 20X1.)
2. Explain why operating income differs between variable costing and absorption costing. Be specific.
Discuss about the terrorism and terrorist organizations
: In this course, you will be learning about and discussing terrorism, terrorist organizations, and criminal organizations.
|
Prepare the appropriate entries for signal on december
: Signal depreciates assets on a straight-line basis. Prepare the appropriate entries for Signal on December 31, 2011, to record necessary adjustments
|
Does lvmh portfolio exhibit good strategic fit
: Does LVMH's portfolio exhibit good strategic fit? What value chain match-ups do you see? What opportunities for skills transfer, cost sharing
|
Discuss what is the degree of operating leverage
: What is the degree of operating leverage at the accounting break-even point
|
Review problem of-The Twin Lakes Company
: Fixed factory overhead was budgeted at $146,000 per year. The expected volume of production was 14,600 units so the fixed overhead rate.
|
Better management of returns
: Describe how new packaging such as the TEDSBOX may lead to better management of returns in the food and beverage industry.
|
Wxplain what is the efficient number of lighthouses
: Suppose that there are only two fishermen, Zach and Jacob, who fish along a certain coast. Explain what is the efficient number of lighthouses?
|
What is terrorism and what is organized crime
: Identify and briefly describe as many known terrorist and organized crimes organizations as you can.
|
Researcher achieve a high level of accuracy
: 1. Curbstoning helps the researcher achieve a high level of accuracy.
|