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
FromTheMoon [43]
2 years ago
7

Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of oper

ations: During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is 50 per unit.
(b) Assume that the company uses variable costing: i. Compute the unit product cost. ii. Prepare an income statement for the year.
Business
1 answer:
Olin [163]2 years ago
7 0

Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations:

Variable costs per unit:                        

Manufacturing:

Direct materials                                               $ 6

Direct labor                                                      $ 9

Variable manufacturing overhead                 $ 3

Variable selling and administrative                $ 4  

Fixed costs per year:

Fixed manufacturing overhead                      $ 300.000

Fixed selling and administrative                     $ 190.000

During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is $50 per unit.

The four steps of writing an income declaration are: to identify sources of sales, in addition to profits from investments, for an instance pick out business enterprise prices and losses incurred over the same period. Consolidate sales, charges, profits, and losses by means of category, payee, or some other factor.

Learn more about Income statements here:-brainly.com/question/1798830

#SPJ4

You might be interested in
in an audit of inventories, an auditor would least likely verify that all inventory owned by the client is on hand at the time o
Kruka [31]

In an audit of inventories, an auditor would least likely verify that all inventory owned by the client is on hand at the time of the count.

An auditor no longer assumes all inventories to which the auditee has a name to be available a the date of the depend. A few bought goods may also still be in transit at that time. Additionally, some stock may be on consignment or in public warehouses through properly included in the county.

An audit is an "impartial exam of monetary statistics of any entity, whether or not profit oriented or now not, no matter its size or legal form whilst such an exam is performed so one can explicit an opinion thereon.”

An auditor is a person or a firm appointed with the aid of an employer to execute an audit. to act as an auditor, someone should be licensed by means of the regulatory authority of accounting and auditing or possess sure detailed qualifications.

Learn more about audit here brainly.com/question/24317218

#SPJ4

6 0
2 years ago
You are the Middle School Principal. As shelter operations are beginning to phase down, you continue to be concerned about the i
Elanso [62]

Answer:

Scenario: The Operations Section has determined that the Emergency Medical Services, the Fire Department, and the School Bus Company will be assigned tothe evacuation of the Nursing Home. They will all converge at City Hall and will be dispatched, as appropriate, to begin the rapid and safe movement of the residents to their temporary shelter locations.What NIMS Management Characteristic is being demonstrated?Dispatch/DeploymentScenario: You are the President of Lawrence College. You and the American Red Cross Shelter Manager have contacted the Incident Command Post concerning the ability to meet the nutritional and long term pharmaceutical needs of the elderly residents. The Liaison Officer requests assistance from theEmergency Operations Center

Explanation:

6 0
3 years ago
A simple definition of curriculum?
Brilliant_brown [7]
Knowledge that is taught as part of a course of study.
5 0
3 years ago
The theory of purchasing power parity assumes that.
Maurinko [17]

PPP is a method of comparing the absolute purchasing power of currencies and, to some extent, the living standards of people in different countries.

<h3 /><h3>What is purchasing power parity?</h3>

Purchasing power parity (PPP) is a method of comparing the absolute purchasing power of currencies and, to some extent, the living standards of people in different countries.

It uses the prices of specific goods to compare the absolute purchasing power of currencies and, to some extent, the living standards of their people.

Therefore the above statement explains the purchasing power parity.

Learn more about purchasing power parity here:

brainly.com/question/2286004

#SPJ1

5 0
2 years ago
Distinguish between corporate image and reputation​
My name is Ann [436]
Corporate image is more about how a brand makes people feel, while reputation includes people’s perceptions of a company’s products, leadership, finances, social responsibility, and interactions with its costumers, employees, and community. Both corporate image and reputation can impact a company’s revenue and success.
7 0
2 years ago
Other questions:
  • Choose all that apply.
    8·2 answers
  • 1.2.35 Question Help Ralph Chase plans to sell a piece of property for ​$ 140000 140000. He wants the money to be paid off in tw
    11·1 answer
  • What is an example of an interest leading to a career choice?
    7·1 answer
  • What do you call a bar of soap that doesn't clean worksheet answer key?
    7·1 answer
  • What type of tax are sales tax and excise tax?
    15·1 answer
  • Week 3 and week 4 calculation and explanation required
    12·1 answer
  • Suppose your company reports $210 of net income and $50 of cash dividends paid, and its comparative balance sheet indicates the
    8·1 answer
  • Question 2 of 25
    15·2 answers
  • Allison wants to automate one of its production processes. The new equipment will cost $90,000. In addition, Jupiter will incur
    8·1 answer
  • A company has net sales of $852,000 and cost of goods sold of $565,000. its net income is $101,800. the company's gross profit a
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!