1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
balandron [24]
2 years ago
9

Hex Industries reports the following information for May: Sales $ 990,000 Fixed cost of goods sold 118,000 Variable cost of good

s sold 268,000 Fixed selling and administrative costs 118,000 Variable selling and administrative costs 143,000 Calculate the gross profit for May under absorption costing.
Business
1 answer:
Semmy [17]2 years ago
4 0

The gross profit of Hex Industries for May under absorption costing is $604,000.

<h3>What is absorption costing?</h3>

Under absorption costing, the total or full costs of manufacturing or (variable and fixed) cost of goods sold are included when determining the gross profit.

<h3>Data and Calculations:</h3>

Sales $ 990,000

Variable cost of goods sold 268,000

Fixed cost of goods sold 118,000

Total cost of goods sold = $386,000

Gross profit = $604,000 ($990,000 - $386,000)

Fixed selling and administrative costs 118,000

Variable selling and administrative costs 143,000

Total period costs = $261,000 ($118,000 + $143,000)

Net income = $343,000 ($604,000 - $261,000)

Thus, the gross profit of Hex Industries for May under the absorption costing method is $604,000.

Learn more about the absorption costing method at brainly.com/question/14609187

#SPJ1

You might be interested in
A postaudit is a valuable process because blank______. multiple choice question. it forces companies to fire employees who made
salantis [7]

A postaudit is a valuable process because Actual values can be used to determine if the project is performing as expected.

<h3>What is the purpose of the postaudit and audit process?</h3>

Postaudit is been done after an audit has been made to get the deep inspection needed about the project at hand.

Audit process help with the inspection of various books of accounts as well as other information that is needed to be go through as regards the project.

But with the postaudit,  Actual values can be known.

learn more about audit process at :

brainly.com/question/20713734

#SPJ1

5 0
2 years ago
Whats yr favorite dinosaur? mines dilosaurus, t-rex, velociraptor, mostly all different dinos!
Neporo4naja [7]
I like all of them but the T. rex is my all time fav
4 0
3 years ago
Choose the correct statement regarding rental insurance
Eduardwww [97]

Answer:

A. Rental insurance covers your personal belongings but not the building

Explanation:

RENTAL INSURANCE is a type of insurance that help to cover or replace a person or an individual personal belongings in the case of unforseen circumstances such as theft ,fire accident or damage to Property which may arise and on the second hand RENTAL INSURANCE does not cover damage to a person personal property that arise due to damage causes by natural disasters such as hurricanes as well as carpeting repair due to water heater leakage.

Lastly RENTAL INSURANCE does not cover the actual building reason been that it only landlord Insurance policy that covers the actual building which means that the correct statement regarding rental insurance is :Rental insurance covers your personal belongings but not the actual building.

8 0
3 years ago
Establishing a secure customer or client base is an example of how to deal with this type of risk.
Elan Coil [88]
It would be Operational risky
7 0
2 years ago
A new restaurant has introduced a wildly popular macaroni and cheese dish made with goat cheese. however, at approximately the s
bixtya [17]

How do the price and quantity of goat cheese change? The price of goat cheese will likely rise because there is less being produced and able to be consumed. The quantity of goat cheese is not able to be determined by the information provided in the question.

7 0
3 years ago
Read 2 more answers
Other questions:
  • The BASF Chemical Company in Germany has developed a new rubberized coating. The product has an application for cell phones and
    5·1 answer
  • What are the major benefits to IKEA of shifting so much of its global production to China? concentration of manufacturing assets
    9·1 answer
  • National Financial​ Services, Inc. invested $ 24,000 to acquire 5,000 shares of Stonebridge​ Investments, Inc. on March​ 15, 201
    11·1 answer
  • Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricat
    14·1 answer
  • What is judical settlement<br>​
    7·1 answer
  • The IMA suggests​ that, when faced with an ethical​ dilemma, the first thing management accountants should do is call the​ IMA's
    7·1 answer
  • Suppose Kim purchases a new personal computer produced in China for $ 2,800. What is the effect on the components of GDP and GDP
    5·1 answer
  • Each time a sale is​ recorded, two journal entries are also recorded to account for estimated sales returns.
    6·1 answer
  • How do financial intermediaries impact the market efficiency?​
    12·2 answers
  • Your project sponsor is Shirley, the Chief Information Officer. She is a member of the hospital leadership team who controls the
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!