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telo118 [61]
3 years ago
15

Andy Basil Industries Inc. reported the following information about the production and sale of its only product during the first

month of​ operations: Selling price per unit ​$225.00 Sales ​$360,000 Direct materials used ​$176,000 Direct labor ​$100,000 Variable factory overhead ​$44,000 Fixed factory overhead ​$80,000 Variable selling and administrative expenses ​$20,000 Fixed selling and administrative expenses ​$10,000 Production volume variance 0 Ending​ inventory, Direct Materials 0 Ending​ inventory, Workminusinminusprocess 0 Ending​ inventory, Finished Goods 400 units Under absorption​ costing, what is the Cost of Goods​ Sold?
Business
1 answer:
grandymaker [24]3 years ago
3 0

Answer:

Cost of Goods Sold = $ 400,000

Explanation:

Units Sold = $360,000/ $225= 1600

Sales ​                                                                  $360,000

Direct materials ​$176,000

Direct labor ​$100,000

Variable factory overhead ​$44,000

Fixed factory overhead ​$80,000

Total Manufacturing Costs   $ 400,000

Variable selling and administrative expenses ​$20,000

Fixed selling and administrative expenses ​$10,000

Cost of Goods Sold = $ 400,000

As ending Inventory Finished Goods is 400 units it is not included in the Cost of Goods Sold.

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2 years ago
IE 9-6 ... AS/AD model – If this economy has an equilibrium in Year 5 with a Price Level of $2.54, then Nominal Income GDP will
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Answer:

<u>$4387 b</u> but Real Income GDP will be <u>$4500 b</u> ..

Explanation:

This nominal GDP signifies the worth of all those ultimate assets including assistance that economics performed throughout a provided year. The aforementioned is calibrated by implementing the uses that remain contemporary throughout the year while which that output is generated. Meanwhile, in economics, a nominal worth is formulated into monetary sessions.

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4 0
3 years ago
g A machine costing $58,944 with a 6-year life and $55,853 depreciable cost was purchased January 1. Compute the yearly deprecia
Solnce55 [7]

Answer:

$9,309

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DEPRECIABLE COST / USEFUL LIIFE

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7 0
3 years ago
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