User Account

All Pages

Why use of operating income per mascot was in error

Assignment Help Managerial Accounting
Reference no: EM132627242

Blake Dunn yelled, waving the income statement he had just received from his accountant in the morning mail. "Last month, we sold 2,000 stuffed State University mascots and earned $6,565 in operating income. This month, when we sold 3,000 I thought we'd make $9,848. But this income statement shows an operating income of $11,615.

Question (a) Assume Janice's role. Explain to Blake why his use of operating income per mascot was in error.

Reference no: EM132627242

Questions Cloud

Reality provides us with fact so romantic that imagination : "Reality provides us with fact so romantic that imagination itself could add nothing to them" What field did you explore in this class, that makes this true?
Engaging in purposeful self-reflection : Engaging in purposeful self-reflection will impact your cognitive and emotional intelligence as a researcher and will promote the sustained development
Compute the corporation income tax liability for the year : Carmine Corporation had taxable income of $95,000 for the year ending September 30, 2019. Compute the corporation's income tax liability for the year
Calculate expected returns and expected standard deviations : Calculate the expected returns and expected standard deviations of a two-stock portfolio having a correlation coefficient of 0.70
Why use of operating income per mascot was in error : Assume Janice's role. Explain to Blake why use of operating income per mascot was in error. Blake Dunn yelled, waving the income statement he had just received
Discuss the different aspects of agency cost : Identify and discuss the different aspects of agency cost. Why are they an important consideration for financial managers.
Explain tax treatment if Taupe Corporation is S corporation : The corporation makes no distributions to Torsten during the year. explain the tax treatment if Taupe Corporation is: An S corporation
What are the opportunity cost of holding cash : What are the opportunity cost of holding cash, the trading cost, and the total cost? What do you think of Little Bertha's strategy?
Compute the expected rate of return for lauren labs : Compute the expected rate of return E(Ri) for Lauren Labs.Considering the world economic outlook for the coming year and estimates of sales

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