subject
Business, 16.07.2019 17:20 hobbs4ever1

Whitman company has just completed its first year of operations. the company’s absorption costing income statement for the year follows: whitman company income statement sales (40,000 units × $42.60 per unit) $ 1,704,000 cost of goods sold (40,000 units × $21 per unit) 840,000 gross margin 864,000 selling and administrative expenses 460,000 net operating income $ 404,000 the company’s selling and administrative expenses consist of $300,000 per year in fixed expenses and $4 per unit sold in variable expenses. the $21 unit product cost given above is computed as follows: direct materials $ 11 direct labor 3 variable manufacturing overhead 3 fixed manufacturing overhead ($196,000 ÷ 49,000 units) 4 absorption costing unit product cost $ 21 required: 1. redo the company’s income statement in the contribution format using variable costing. 2. reconcile any difference between the net operating income on your variable costing income statement and the net operating income on the absorption costing income statement above.

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 10:50
Kimberly has been jonah in preparing his personal income tax forms for a couple of years. jonah's boss recommended kimberly because she had done a good job setting up the company's new accounting system. jonah is very satisfied with kimberly's work and feels that the fees she charges are quite reasonable. kimberly would be classified as a(n) (a) independent auditor (b) private accountant (c) public accountant (d) accounting broker
Answers: 1
question
Business, 22.06.2019 12:10
Lambert manufacturing has $100,000 to invest in either project a or project b. the following data are available on these projects (ignore income taxes.): project a project b cost of equipment needed now $100,000 $60,000 working capital investment needed now - $40,000 annual cash operating inflows $40,000 $35,000 salvage value of equipment in 6 years $10,000 - both projects will have a useful life of 6 years and the total cost approach to net present value analysis. at the end of 6 years, the working capital investment will be released for use elsewhere. lambert's required rate of return is 14%. the net present value of project b is:
Answers: 2
question
Business, 23.06.2019 00:00
How do the percentages of the 65 customer satisfaction ratings in that actually fall into the intervals [formula62.mml ± s], [formula62.mml ± 2s], and [formula62.mml ± 3s] compare to those given by the empirical rule? do these comparisons indicate that the statistical inferences you made in parts b and c are reasonably valid? (round your answers to the nearest whole number. omit the "%" sign in your
Answers: 2
question
Business, 23.06.2019 11:10
Which of the following statements best reflects a price-taking firm? price-taking firms maximize profits by charging a price above marginal cost. the firm can sell only a limited amount of output at the market price before the market price will fall. if the firm were to charge more than the going price, it would sell none of its goods. the firm has an incentive to charge less than the market price to earn higher revenue.
Answers: 3
You know the right answer?
Whitman company has just completed its first year of operations. the company’s absorption costing in...
Questions
question
Business, 10.04.2021 06:20
question
Computers and Technology, 10.04.2021 06:20
question
Mathematics, 10.04.2021 06:20
question
Mathematics, 10.04.2021 06:30
Questions on the website: 13722363