User Account

All Pages

What is the value of ending inventory using full costing

Assignment Help Managerial Accounting
Reference no: EM133010421

Question - Canarie Manufacturing produces snow shovels. The selling price per snow shovel is $30.00. There is no beginning inventory.

Costs involved in production are:

Direct material $6.00

Direct labor 4.00

Variable manufacturing overhead 2.00

Total variable manufacturing costs per unit $12.00

Fixed manufacturing overhead per year $198,400

In addition, the company has fixed selling and administrative costs of $151,600 per year.

During the year, Canarie produces 49,600 snow shovels and sells 44,100 snow shovels.

What is the value of ending inventory using full costing?

What is the value of ending inventory using variable costing?

Calculate the difference in full costing net income and variable costing net income without preparing either income statement.

What is cost of goods sold using full costing?

What is cost of goods sold using variable costing?

What is net income using full costing?

Reference no: EM133010421

Questions Cloud

How hull will record the acquisition cost of the land as : How Hull will record the acquisition cost of the land as? salvage value of bricks from the shed $120. filling and grading $1,500.removal of shed $300
What is the after tax cash flow from the sale of this asset : The asset can be sold for $58 000. If the relevant tax rate is 34%, what is the after tax cash flow from the sale of this asset
Draw a payoff diagram showing the value of the call : Draw a payoff diagram showing the value of the call at expiration as a function of the stock price at expiration. What will be the payoff of the call?
Calculate net present value of the investment opportunity : Calculate the net present value of the investment opportunity. (Negative amount should be indicated by a minus sign. Round intermediate calculations)
What is the value of ending inventory using full costing : In addition, the company has fixed selling and administrative costs of $151,600 per year. What is the value of ending inventory using full costing
Appraise the reasons why michelin is interested : Appraise the reasons why Michelin is interested in adopting a digital service platform (DSP) and Evaluate what are the values that Michelin's DSP provides
What is the average rate of return and standard deviation : What is the average rate of return and standard deviation for this time period? Over the past 5 years, the Swann Co. had an annual returns of 6.8 percent
Examine behavior within firms in relation to financial : Examine ethical behavior within firms in relation to financial management. Provide two examples of companies that have been guilty of ethics-based action
Compute straight-line depreciation : Compute straight-line depreciation on the building at the end of one year, assuming an estimated twelve-year useful life and a $3,900 estimated residual value

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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