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pickupchik [31]
1 year ago
15

Mr. Smith, the special education teacher, called Tim's parents to schedule a meeting to update information on Tim's progress on

his IEP and to set goals for the upcoming year. This type of meeting is called a/an:
Business
1 answer:
topjm [15]1 year ago
7 0

Answer:

b

Explanation:

ebbbbdbjdbvbksb jbejbkgbksn

You might be interested in
The accounting records of Brownwood Company revealed the following information: Work in process inventory, Jan 1 58,000 Work in
ivanzaharov [21]

Answer:

$721,000 is correct

Explanation:

Cost of goods sold =754000 + 125000 -158000

=721,000

8 0
3 years ago
At Sunland Company, events and transactions during 2020 included the following. The tax rate for all items is 20%. (1) Depreciat
e-lub [12.9K]

Answer:

B. $1673920

Explanation:

First calculate Total loss

$2000000 loss from disposal of a component of the business and loss of $92400 from strike by the employees of a supplier

$2000000 + $92400 = $2,092,400

20% of the loss =

20% × $2,092,400

= $418,480

Therefore the effect of these events and transactions on 2020 net income net of tax would = Total loss - 20% of total loss

$2,092,400 - $418,480

= $1,673,920

4 0
3 years ago
Which of the following would be most likely to use process costing? a.lawn fertilizer manufacturer b.custom furniture manufactur
Novosadov [1.4K]

Answer:

The correct answer is letter "A": lawn fertilizer manufacturer.

Explanation:

Process costing is a type of costing approach used by companies to identify expenses for individual units produced. This method is useful for manufacturers in charge of mass production where all the units are almost the same or equal. Thus, <em>a lawn manufacturer could use the process costing system</em> because the equipment produced in that industry are almost equal and tend to be manufactured in large quantities.

5 0
3 years ago
Selzik Company makes super-premium cake mixes that go through two processing departments—Blending and Packaging. The following a
solmaris [256]

Answer:

Please see answers below

Explanation:

We know that ;

Beginning work WIP 10,000

Units started 170,000

a. Ending WIP 20,000

Material 100% complete = 20,000 EU

Conversion 100% complete = 8,000 EU

b. Units completed = 160,000

Units started and completed = 150,000

Beginning WIP costs;

Materials cost $8,500

Conversion cost $4,900

Costs added during the period;

Materials cost $139,400

Conversion cost $244,200

Equivalent units for July;

EU for materials = 170,000

EU for conversion = 7,000 + 150,000 + 8,000 = 165,000

Costs per EU:

Materials = $139,400 / 170,000 = $0.82 per EU

Conversion = $244,200 / 165,000 = $1.48 per EU

c. Total costs;

Ending WIP = [20,000 × $0.82] + [8,000 × $1.48] = $28,240

Units transferred out = [$383,600 - $28,240] + $8,500 + $4,900 = $368,760

d. Therefore,

Costs to be accounted for ;

Beginning work in process $13,400

Cost added $383,600

Total costs to be accounted for $397,000

Also,

Costs account ted for are as follow

Units transferred out $368,760

Ending WIP $28,240

Total costs accounted for $397,000

5 0
2 years ago
Jackson Company produces plastic that is used for injection-molding applications such as gears for small motors. In 2016, the fi
valentina_108 [34]

Answer:

a.Income Statement using variable costing

                                                                     2016                 2017

Sales                                                     $7,872,000      $9,840,000

Less Cost of Sales                              ($1,338,240)      ($1,672,800)

Opening Stock                                     <em>        $0         </em>      <em> $334,560</em>

Add Cost of Goods Manufactured      <em>$1,672,800 </em>      <em>$1,338,240</em>

Less Closing Stock                              <em> ($334,560) </em>         <em>     $0</em>

Contribution                                        $6,533,760       $8,167,200

Less Expenses :

Fixed manufacturing costs                ($3,075,000)     ($3,075,000)

Selling Expenses : Variable                  ($862,920)      ($1,082,400)

Selling Expenses : Fixed                       ($500,000)       ($500,000)

Net Income / (loss)                               $2,095,840       $3,509,800

b.Income Statement using  absorption costing

                                                                     2016                 2017

Sales                                                     $7,872,000      $9,840,000

Less Cost of Sales                              ($3,798,240)      ($5,362,800)

Opening Stock                                     <em>        $0         </em>      <em> $949,560</em>

Add Cost of Goods Manufactured      <em>$4,747,800 </em>      <em>$4,413,240</em>

Less Closing Stock                              <em> ($949,560) </em>         <em>     $0</em>

Gross Profit                                           $4,073,760          $4,477,200

Less Expenses :

Selling Expenses : Variable                  ($862,920)      ($1,082,400)

Selling Expenses : Fixed                       ($500,000)       ($500,000)

Net Income / (loss)                                 $2,710,840       $2,894,800

c. Reconciliation of Absorption costing Net Income to variable costing profit

                                                                                   2016                      2017

Absorption Costing Net Income                           $2,710,840       $2,894,800

Fixed Manufacturing  Cost in Opening Stock             $0                $615,000

Fixed Manufacturing Cost in Closing Stock         ($615,000)               $0

Variable Costing Net Income                               $2,095,840       $3,509,800

Explanation:

Part a.

Under Variable Costing, Only Variable Manufacturing Costs are treated as Product costs. Fixed Manufacturing costs and All Non-Manufacturing Costs are treated as period costs.

Part b

Under Absorption Costing, Both Variable Manufacturing Costs  and  Fixed Manufacturing costs are treated as Product costs. All Non-Manufacturing Costs are treated as period costs.

Part c.

The difference between the Net Income under Absorption Costing and Variable Costing is due to Fixed Manufacturing Costs that are deferred in Inventory. This needs to be reconciled accordingly.

5 0
3 years ago
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