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2 years ago

A cost that would be included in product costs under both absorption costing and variable costing is:____.

Business

1 answer:

Vinvika [58]2 years ago

3 0

A cost that would be included in product costs under both

absorption costing

and variable costing is: full costing.

A managerial accounting technique known as "

absorption costing

," also known as "full costing," is used to record all expenses related to producing a specific product. This strategy accounts for both direct and indirect costs, including direct materials, direct labor, rent, and insurance

Anything that is a direct cost of creating a good is included in absorption costing's cost base. Fixed overhead costs are included

absorption costing

in the product costs under

absorption costing

as well. Wages paid to workers who physically produce a product, raw materials required in production, and all overhead expenditures (such as all utility bills) incurred

absorption costing

during production are a few of the costs related to product manufacturing

Learn more about

absorption costing

on:
brainly.com/question/14347350

#SPJ4

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On January 8, the end of the first weekly pay period of the year, Regis Company’s payroll register showed that its employees ear

Len [333]

Answer:

$\left[\begin{array}{cccccc}$department&$salaries&OASDI&HI&SUTA&FUTA\\$office&22,760&1,411.12&341.4&280&42\\$sales&65,840&4,082.08&987.6&280&42\\\end{array}\right]$

2) payroll expense entries:

payroll expense 2063.14

Medicare payable 330.02

Social Security payable 1411.12

SUTA 280

FUTA 42

--------------------------------------------

payroll expense 5358.76

Medicare payable 954.68

Social Security payable 4082.08

SUTA 280

FUTA 42

Explanation:

$\left[\begin{array}{cccccc}$department&$salaries&OASDI&HI&SUTA&FUTA\\$office&22,760&1,411.12&341.4&280&42\\$sales&65,840&4,082.08&987.6&280&42\\\end{array}\right]$

We apply for each department the tax rate. Notice SUTA and FUTA have a ceilling of 7,000 so we do not apply the rate to the whole amoung but, for the 7,000 ceiling.

8 0

3 years ago

Transactions Falcon's Related Account 1. Falcon purchases common stock of Wildcat. Investment2. Falcon borrows from Wildcat by s

ludmilkaskok [199]

Answer:

1. Transaction will have effects on Balance Sheet in the Assets Section and will be classified as an Investing Activity in the Statement of Cash flows.

2. Transaction will have effects on Balance Sheet in the Liability Section and will be classified as a Financing Activity in the Statement of Cash flows.

3. Transaction will have effects on Income Statement in the Revenue Section and will be classified as an Operating Activity in the Statement of Cash flows.

4. Transaction will have effects on Income Statement in the Revenue Section and will be classified as an Operating Activity of the Statement of Cash flows.

5. Transaction will have effect on Income Statement in the Expense Section and will be classified as a Financing Activity in the Statement of Cash flows.

Explanation:

1. Falcon purchases common stock of Wildcat. This is classified in the investments tab of the assets account. This will be reflected in balance sheet. The transaction is classified in the investing activity.

2. Falcon borrows from Wildcat and signs Notes payable this will have effects in balance sheet liability account. This is financing activity.

3. Falcon receives Dividend revenue from Wildcat. This will be reflected in income statements as revenue. It will operating activity.

4. Falcon provides services to Wildcat , this is reflected in income statement as revenue. This will appear under operating activity.

5. Falcon pays interest on the borrowings to Wildcat. This is income statement items and is an expense. It belongs to financing activity.

7 0

3 years ago

A Blank______ does not require consumers to do anything other than buy a ticket or fill out a form for a chance to win some type

svetoff [14.1K]

Sweepstakes does not require a consumer to purchase anything aside from the the ticket they will fill out for a chance to win prices.

<h3>What is Sweepstakes?</h3>

Sweepstakes is a form of gambling in which everyone involved in the contest pay a certain amount of money and the winner is awarded with a price or the money contributed.

Therefore, Sweepstakes does not require a consumer to purchase anything aside from the the ticket they will fill out for a chance to win prices.

Learn more about Sweepstakes below.

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2 years ago

A food manufacturer reports the following for two of its divisions for a recent year.

Over [174]

Answer and Explanation:

1. Return on investment is

= Operating Income ÷ Average invested Assets

here, average invested assets is

= (Invested assets, beginning + Invested assets, ending) ÷ 2

For Beverage Division

= $349 ÷ (($2,662 + $2,593) ÷ 2)

= $349 ÷ $2,628

= 13.28%

For Cheese Division

= $634 ÷ (($4,455 + $4,400) ÷ 2)

= $634 ÷ $4,428

= 14.32%

2. Profit margin = (Operating income ÷ sales) × 100

For Beverage Division

= ($349 ÷ $2,681) × 100

= 13.02%

For Cheese Division

= ($634 ÷ $3,925) × 100

= 16.15%

3. Investment turnover = Sales ÷ Average Operating Assets

For Beverage Division

= $2,681 ÷ (($2,662 + $2,593) ÷ 2)

= $2,681 ÷ $2,628

= 1.02 times

For Cheese Division, it would be

= $3,925 ÷ (($4,455 + $4,400) ÷ 2)

= $3,925 ÷ $4,428

= 0.89 times

6 0

3 years ago

Over the past year, the current assets account on the common-size balance sheet of a firm has decreased, while the current liabi

Free_Kalibri [48]

Answer:

Decreased

Explanation:

Liquidity or current ratio = Current Assets / Current liabilities

If the current asset has been decreased and the current liabilities has been increased then the answer would be higher than before.

The current ratio tells the same and the only difference written above and in current ratio is that the above mentioned Answer is conceptual based whereas current ratio uses numerical values of current assets and current liabilities written in the balance sheet.

Current ratio tells us that whether or not the company is able to meet its short term liabilities (Current Liabilities) using its short term asset (Current Assets).

Remember that the current assets are the assets that are convertible to cash within next 12 months. Whereas current liabilities are the liabilities which we have to pay in cash within the next 12 months.

3 0

3 years ago