Denton Company manufactures and sells a single product. Cost data for the product are given: Variable costs per unit: Direct materials $ 4 Direct labor 11 Variable manufacturing overhead 4 Variable selling and administrative 3 Total variable cost per unit $ 22 Fixed costs per month: Fixed manufacturing overhead $ 63,000 Fixed selling and administrative 172,000 Total fixed cost per month $ 235,000 The product sells for $50 per unit. Production and sales data for July and August, the first two months of operations, follow: Units Produced Units Sold July 21,000 17,000 August 21,000 25,000 The company’s Accounting Department has prepared the following absorption costing income statements for July and August: July August Sales $ 850,000 $ 1,250,000 Cost of goods sold 374,000 550,000 Gross margin 476,000 700,000 Selling and administrative expenses 223,000 247,000 Net operating income $ 253,000 $ 453,000 Required: 1. Determine the unit product cost under: a. Absorption costing. b. Variable costing. 2. Prepare variable costing income statements for July and August. 3. Reconcile the variable costing and absorption costing net operating incomes.
Answers: 3
Other questions on the subject: Business
Business, 22.06.2019 00:30, krystlemiller4307
A) plot the m1 and m2 money stock in the us from 1990-2015. (hint: you may use the data tools provided by fred.) (b) plot the nominal interest rate from 1960 to 2014. (hint: you can either use the daily interest rates for selected u. s. treasury, private money market and capital market instruments from or the effective federal funds rate fromfred.) (c) the consumer price index (cpi) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. intuitively, the cpi represents the cost of living or the average price level. plot the cpi from 1960 to 2013.(d) the inflation rate is the yearly percentage change in the average price level. in practice, we usually use the percentage change in the cpi to compute the inflation rate. plot the inflation rate from 1960 to 2013.(e) explain the difference between the ex-ante and ex-post real interest rate. use the fisher equation to compute the ex-post real interest rate. plot the nominal interest rate and the ex-post real interest rate from 1960 to 2013 in the same graph.
Answers: 3
Business, 22.06.2019 11:10, takaralocklear
An insurance company estimates the probability of an earthquake in the next year to be 0.0015. the average damage done to a house by an earthquake it estimates to be $90,000. if the company offers earthquake insurance for $150, what is company`s expected value of the policy? hint: think, is it profitable for the insurance company or not? will they gain (positive expected value) or lose (negative expected value)? if the expected value is negative, remember to show "-" sign. no "+" sign needed for the positive expected value
Answers: 2
Business, 22.06.2019 23:00, inucornspineapple
Type of deposit reserve requirementcheckable deposits $7.8 - 48.3 million 3%over $48.3 million 10noncheckable personal savings and time deposits 0refer to the accompanying table. if a bank has $60 million in savings deposits and $40 million in checkable deposits, then its required reserves are$1.2 million.
Answers: 1
Business, 23.06.2019 01:40, ijohnh14
The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.
Answers: 2
Do you know the correct answer?
Denton Company manufactures and sells a single product. Cost data for the product are given: Variabl...
Questions in other subjects:
Chemistry, 05.12.2019 18:31
Health, 05.12.2019 18:31
Health, 05.12.2019 18:31
Biology, 05.12.2019 18:31
Physics, 05.12.2019 18:31
