User Account

All Pages

What is Bob reported income and cost of inventory

Assignment Help Managerial Accounting
Reference no: EM132864320

Question - Bob's Manufacturing provides you with the following information for the most recent month of operations:

Units in beginning inventory 0

Units produced 2,000

Units sold 1,600

Selling price $50 per unit

Fixed manufacturing costs $24,000

Fixed selling and administrative costs $10,000

Variable manufacturing costs $16 per unit

Variable selling and administrative costs $6 per unit

Required -

a. What is Bob's reported income and cost of ending inventory under variable costing?

b. What is Bob's reported income and cost of ending inventory under absorption costing? Assume Bob allocates cost using units produced.

c. Reconcile the difference between Bob's income under variable costing and absorption costing?

Reference no: EM132864320

Questions Cloud

Assess whether the new customer offer should be accepted : Materials: Some wood has been bought at a cost of $520 and remained unused. Assess whether the new customer offer should be accepted
Christian health administrator to lead change : Discuss how Stephen Covey's three resolutions might be utilized by the Christian health administrator to lead change.
How important is to randomly select subject : How would the results be affected if you increased the number of subjects in the study to one thousand? Why might that affect the overall correlation?
What have been some of the main challenges posed : What have been some of the main challenges posed by the growing use of medical technology in the United States? Next, how do American cultural beliefs
What is Bob reported income and cost of inventory : What is Bob's reported income and cost of ending inventory under absorption costing? Assume Bob allocates cost using units produced
Handled carefully by procurement professional : We enter an area which must be handled carefully by the procurement professional, especially at the management level.
Why is that virtue or virtues to be shown : Why is that virtue or those virtues to be shown? How should the virtue or virtues be expressed, and why in that manner? Apply Aristotle's golden mean.
What potential-possible recommendations would you make : John recently got married to Gail, and together they purchased a home for $800,000. What potential/possible recommendations would you make
Strategic leadership and entrepreneurship analysis : Based on the organization you selected, write a strategic leadership and entrepreneurship analysis

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Find which people will have to pay tax by instalments year

Find which people will have to pay tax by instalments this year? Karen Phillips, who has started to earn investment income, which resulted in net tax owing

  Determine the product margins for each product

Determine the product margins for each product. Determine the amount of overhead cost that would be assigned to each product using activity-based costing.

  Describe the balanced scorecard and the economic value added

Describe the Balanced Scorecard and the Economic Value Added and their claimed advantages. Then compare these two systems to corporate

  How do calculate the copy department costs allocated to sale

The CrownPoint Company's copy department, How do calculate the copy department costs allocated to sales and administration.

  Calculate the markup percentage on product cost

The total cost of $230 is made up of $120 variable cost and $110 fixed cost. The desired profit is $58 per unit. Calculate the markup percentage on product cost

  What is the contribution margin

What is the contribution margin? What is his breakeven point given that he wants to cover all of his costs?

  How to perform relevant calculations and analysis

How to perform relevant calculations and analysis. How to recommend a course of action. Compute all required amounts and Explain how the computations

  Witness in managerial accounting information

What specific characteristics or features we expect to witness in managerial accounting information?

  What is the net present value of the investment

What is the cash payback period for this proposal?What is the annual rate of return for the investment?What is the net present value of the investment

  Find what is the monthly margin of safety in dollars

Find what is the monthly margin of safety in dollars and the margin of safety ratio? If the inn plans on renting 29 rooms per day (assuming a 30-day month).

  Which is an example of investment as a component of gdp

Which is an example of investment, as a component of GDP? Which of the following situations is sufficient to represent current demand for a car?

  How much cash will opal distribute to common stockholders

How much cash will Opal distribute to the common stockholders? Opal Company declared an $80,000 cash dividend. It currently has 3,000 shares

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