Kenzi kayaking, a manufacturer of kayaks, began operations this year. during this first year, the company produced 1,025 kayaks and sold 775 at a price of $1,025 each. at this first year-end, the company reported the following income statement information using absorption costing. sales (775 × $1,025) $ 794,375 cost of goods sold (775 × $475) 368,125 gross margin 426,250 selling and administrative expenses 230,000 net income $ 196,250 additional information product cost per kayak totals $475, which consists of $375 in variable production cost and $100 in fixed production cost—the latter amount is based on $102,500 of fixed production costs allocated to the 1,025 kayaks produced. the $230,000 in selling and administrative expense consists of $95,000 that is variable and $135,000 that is fixed. required: 1. prepare an income statement for the current year under variable costing. 2. fill in the blanks:

There are more than two types of bachelors’ degrees true or false?

Shelby company produces three products: product x, product y, and product z. data concerning the three products follow (per unit): product x product y product z selling price $ 85 $ 65 $ 75 variable expenses: direct materials 25.50 19.50 5.25 labor and overhead 25.50 29.25 47.25 total variable expenses 51.00 48.75 52.50 contribution margin $ 34.00 $ 16.25 $ 22.50 contribution margin ratio 40 % 25 % 30 % demand for the company’s products is very strong, with far more orders each month than the company can produce with the available raw materials. the same material is used in each product. the material costs $8 per pound, with a maximum of 4,400 pounds available each month. required: a. compute contribution margin per pound of materials used. (round your intermediate calculations and final answers to 2 decimal places.) contribution margin per pound product x $ product y $ product z $ b. which orders would you advise the company to accept first, those for product x, for product y, or for product z? which orders second? third? product x product y product z

Almost 80% of business owners are clueless about the competition, resulting in a) lost market share and customers. b) needless lawsuits. c) uninspired products. d) lack of perseverance