SIMS COMPANY Variable Costing
Income Statement
Manufacturing costs
Direct material $35 per unit
Direct labor $55per unit
Overhead costs
Variable $30 per unit
Fixed $7,350,000
Selling and administrative costs for the year
Variable $7,50,000
Fixed $4,500,000
Production and sales of the year
Units produced 105,000
Units sold 75,000 units
Sales price per unit $ 3,50 per unit
1. Prepare an income statement for the year using variable costing.
2. Prepare an income statement for the year using absorption costing.

Strawberry plants reproduce by

The following information is available for juno company for the month ending june 30, 2019. * balance as per the bank statement is $ 11 comma 000. * balance as per books is $ 10 comma 400. * check #506 for $ 1 comma 200 and check #510 for $ 900 were not shown on the june 30, bank statement. * a deposit in transit of $ 3 comma 346 had not been received by the bank when the bank statement was generated. * a bank debit memo indicated an nsf check for $ 70 written by jane smith to juno company on june 13. * a bank credit memo indicated a note collected by the bank of $ 1 comma 900 and interest revenue of $ 51 on june 20. * the bank statement indicated service charges of $ 35. what is the adjusted book balance?

Which represents a surplus in the market? a market price equals equilibrium price. b quantity supplied is greater than quantity demanded. c market price is less than equilibrium price. d quantity supplied equals quantity demanded.