User Account

All Pages

The following information relates to vice versa ventures

Assignment Help Accounting Basics
Reference no: EM13594649

The following information relates to Vice Versa Ventures for calendar year 20XX, the company's first year of operations:

  • Units produced 20,000
  • Units sold 17,000
  • Selling price per unit $35
  • Direct material per unit $5
  • Direct labor per unit $5
  • Variable manufacturing overhead per unit $2
  • Variable selling cost per unit $3
  • Annual fixed manufacturing overhead $160,000
  • Annual fixed selling and administrative expense $80,000

(a) Prepare an income statement using full costing.
(b) Prepare an income statement using variable costing.

Reference no: EM13594649

Questions Cloud

A flywheel turns through 28 rev as it slows from an angular : question a flywheel turns through 28 rev as it slows from an angular speed of 6.1 rads to a stop. a assuming a constant
How much energy in kilojoules is required to convert 195ml : how much energy in kilojoules is required to convert 195ml of diethyle ether at its boiling point from liquid to vapor
A solution of 14 g of a nonvolatile nondissociating : a solution of 14. g of a nonvolatile nondissociating compound in 1.0 kg of benzene boils at 81.7 oc. calculate the
Stowers research issues bonds dated january 1 2011 that pay : stowers research issues bonds dated january 1 2011 that pay interest semiannually on june 30 and december 31. the bonds
The following information relates to vice versa ventures : the following information relates to vice versa ventures for calendar year 20xx the companys first year of operations
At 900k the following reaction has kp0345 2so2 o2-gt2so3 : at 900k the following reaction has kp0.345. 2so2 o2-gt2so3. in an equilibruim mixture the partial pressure of so2 and
A long narrow steel rod of length 25000 m at 25 c is : a long narrow steel rod of length 2.5000 m at 25 c is oscillating as a pendulum about a horizontal axis through one
The building and equipment are estimated to cost 1100000 : thurman munster the owner of adams family rvs is considering the addition of a service center his lot. the building and
What happens when water is heated to extremely high : what happens when water is heated to extremely high temperatures? will it ever dissociate back into hydrogen and oxygen

Reviews

Write a Review

Accounting Basics Questions & Answers

  Why does the tax law set up a unified system

Basically, the Estate tax and the Gift tax are a combined system, and are linked together. The question is why? Why does the tax law set up a "unified" system that combines gifts with the estate and has a combined tax that totals estate plus all l..

  Needs of auditing standards

Auditing standards require that the audit report must be titled and that the title must:

  Jamaica corp is adding a new assembly line at a cost of 85

jamaica corp. is adding a new assembly line at a cost of 8.5 million. the firm expects the project to generate cash

  Mathematics-compound interest

Burger and more business is worth 250,000. it is expected to grow at 12% per year compounded annually for the next 5 years. Find the expected future value.

  Basics of variable costing income statements

Prepare a new income statement for the year using variable costing. Comment on the differences between the absorption costing and the variable costing income statements.

  Depreciation by using the straight-line method

Henry purchased the building on January 2, 2011 for $800,000. The building is to be depreciated using the straight-line method over a period of 40 years with no salvage value. Depreciation for year 1 is?

  Apple and phillips balance sheets for year ending

apple and phillips balance sheets for year ending 2012.comment on three difference between their balance sheets. also

  Direct material and direct labor cost to produce cases

Hale Company makes sets of wrenches. They are trying to decide whether to continue to make the case the wrenches are sold in, or to outsource it to another company. The direct material and direct labor cost to produce the cases total $2.00 per cas..

  In 2011 carlos filed his 2010 state income tax return and

in 2011 carlos filed his 2010 state income tax return and paid taxes of 800. also in 2011 carloss employer withheld

  Townson company had gross wages of 200000 during the week

townson company had gross wages of 200000 during the week ended december 10. the amount of wages subject to social

  The audit risk model has become the commonly used basis for

the audit risk model has become the commonly used basis for audit planning. the following are independent situations

  What was the total amount of bad debts expense

As a result of a comprehensive analysis, it is determined that the December 31, 2011 balance of Allowance for Bad Debts should be $6,300. Show, in general journal format the adjustment required.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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