Fields cutlery, a manufacturer of gourmet knife sets, produced 20,000 sets and sold 23,000 units during the current year. beginning inventory under absorption costing consisted of 3,000 units valued at $66,000 (direct materials $12 per unit; direct labor, $3 per unit; variable overhead, $2 per unit, and fixed overhead, $5 per unit.) all manufacturing costs have remained constant over the 2-year period. at year-end, the company reported the following income statement using absorption costing: sales (23,000 × $45) $ 1,035,000 cost of goods sold (23,000 × $22) 506,000 gross margin $ 529,000 selling and administrative expenses 115,000 net income $ 414,000 60% of total selling and administrative expenses are variable. compute net income under variable costing.
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Business, 22.06.2019 23:10, erykaa
Mbo works by objectives moving through the organization; that is, top managers set general organizational objectives, which are translated into divisional objectives, which are translated into departmental objectives. the hierarchy ends in individual objectives set by each employee. this is an example of mbo working as objectives through the organization.
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Business, 23.06.2019 01:30, desimond01
Jodie lives in a developing nation where the local markets are underdeveloped in terms of domestic exposure. her country wants to boost these domestic industries in the face of heavy competition from foreign players in the market. which trade practice should jodie’s country adopt to shield its domestic industries from foreign players? jodie’s country should adopt to shield its domestic industries from foreign players. typing answer
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Fields cutlery, a manufacturer of gourmet knife sets, produced 20,000 sets and sold 23,000 units dur...
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