Using variable costing prepare an income statement for the

Assignment Help Accounting Basics

Reference no: EM13485696

Randy Company has obtained the following data for the first year of operations:

Sales $2,868,750

Direct materials and labor $1,125,000

Variable manufacturing overhead $431,250

Fixed manufacturing overhead $656,250

Variable selling expenses $337,500

Fixed selling expenses $131,250

Units produced 125,000

Units sold 112,500

Units expected to be produced 125,000

A) Using variable costing, prepare an income statement for the first year of operations. Assume budgeted fixed costs were equal to actual fixed costs.

B) Using absorption costing, prepare an income statement for the first year of operations. Assume budgeted fixed costs were equal to actual fixed costs.

Reference no: EM13485696

Questions Cloud

Determine at least one 1 issue that can result when you : 1.determine at least one 1 issue that can result when you dispose of depreciable business property. assess the key

Calculate watsons eat roe and eps currently and at capital : watson waterbed works inc. has an ebit of 2.75 million can borrow at 15 interest and pays combined state and federal

Johannes corporation uses a budgeted factory overhead rate : nbspjohannes corporation uses a budgeted factory overhead rate to apply overhead to production. direct labor costs are

A cost which remains constant per unit at various levels of : a cost which remains constant per unit at various levels of activity is aa.fixed cost.b.manufacturing cost.c.mixed

Using variable costing prepare an income statement for the : randy company has obtained the following data for the first year of operationssalesnbspnbsp nbsp nbsp nbsp nbsp nbsp

Draft a memo from the treasurer to harry tactfully : the revere company currently has good earnings and a capital structure thats 20 debt. its eps is in the upper quarter

Determine the total costs after allocating the service : salerno company has two service departments maintenance and cafeteria as well as two production departments mixing and

If smith company buys the part from jones company instead : smith company needs 1000 units of a certain part for its manufacturing process. it can buy the part from jones company

Francis bacon believed that you should read neither to : 1- francis bacon believed that you should read neither to contradict nor believe but rather to weigh and evaluate.2-

User Account

All Pages