What is the net profit for the company

Assignment Help Accounting Basics
Reference no: EM132075163

Question - The Company incurred the following costs during the current year: Direct Materials $10,000; Direct Labor $20,000; Factory Rent $8,000; Factory Utilities $12,000; Indirect labor $20,000; Selling and Admin $30,000. The company makes 5000 units. During the year 3,000 units are sold at $20 each. What is the net profit (net income) for the company?

Reference no: EM132075163

Questions Cloud

Compute oracles long-term debt to shareholders equity ratio : Compute Oracle's long-term debt to shareholders' equity ratio for May 31, 2008 and 2007. Identify the increases in shareholders' equity in 2008.
Define the term probability : Define the term probability. How is it measured? What range can the measures take and what do they mean?
What is the gross profit : Widgets R Us is a manufacturing company. The selling price of a widget is $10. If the company sells 5000 units, what is the gross profit
Prepare a letter to the iasb : Discuss which of the seven principles of effective communication you feel are lacking the most in the note disclosures contained in the 2017.
What is the net profit for the company : The company makes 5000 units. During the year 3,000 units are sold at $20 each. What is the net profit (net income) for the company
Find mean-median and mode for the combined group : Find mean, median and mode for the combined group of 31 observations
Calculate the macaulay duration d : Calculate the Macaulay duration D(.07, infinity) and the modified duration D(.07, 1) of the bond.
Use for a lecture in an introductory statistics class : For your Signature Assignment, you will create a PowerPoint presentation suitable to use for a lecture in an introductory statistics class.
How much cash will the company collect in october : The company expects to sell 45% of its merchandise for cash. How much cash will the company collect in October

Reviews

Write a Review

Accounting Basics Questions & Answers

  Study appendix 13 consider the following data regarding

study appendix 13. consider the following data regarding factory overhead variable fixed budget for actual hours of

  What is double-entry bookkeeping. give a brief example

What are the three major business activities in which accountants play a major role. Give an example of each. What is double-entry bookkeeping. Give a brief example.

  Orders its thermometers from a hospital supply firm

A hospital orders its thermometers from a hospital supply firm. The cost per thermometer depends on the order quantity Q, as shown in the file P12_58.xlsx.

  Memorax company earned before-tax income of 865000 for its

memorax company earned before-tax income of 865000 for its 2011 fiscal year. during the year the company experienced a

  Should be on 2012 forms and done in pencil it should

should be on 2012 forms and done in pencil. it should include a schedule that shows the fiduciary income calculation

  What is mr schnurr current opinion about the best path

What is Mr. Schnurr's current opinion about the best path for continuing to pursue goal of a single set of high-quality, globally accepted accounting standards

  Discuss the financial statements are published

Explain whether Bird Ltd should recognize a liability for legal damages in its financial statements

  What is this firm debt-equity ratio

Du Pont Identity Finley Fire Prevention Corp. has a profit margin of 7 percent, total asset turnover of 1.94, and ROE of 23.70 percent. What is this firm's debt-equity ratio?

  What would the cost schedule of cost of goods manufactured

what would the cost schedule of cost of goods manufactured look like and what does the income statement for cost of

  Prepare the t accounts and statement of cash flows

Prepare the "T" accounts and Statement of Cash Flows of A2Z for the year ended December 31, 2014. Use the direct method

  After numerous campus interviews alex sanchi a student at

after numerous campus interviews alex sanchi a student at bc received two office interview invitations from the orlando

  In march kelly company had the following unit production

in march kelly company had the following unit production costs materials 12 and conversion costs 9. on march 1 it had

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!

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