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
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.

You might be interested in
Sharon Baricivic is a manager in the credit department for Hardaway's Lawncare Supplies. Joe Greene is a new employee in her dep
kondaur [170]

Answer:

coaching Joe rather than helping him

Explanation:

Coaching is a process where a more experienced person teaches a learner achieve a goal by giving guidance and training.

Helping is when a person assists another to do a job that is their responsibility.

In this scenario Sharon Baricivic has provided Joe with guidance by offering advice, encouragement, and instructions. So he is coaching him.

However, she has been careful to let Joe do all of the actual work he is assigned, even if he struggles a bit.

So she is not helping Joe do his work, but rather letting him do it even if it means him struggling a bit.

5 0
3 years ago
A company that produces detergents wants to estimate the mean amount of detergent in 64-ounce jugs at a 99% confidence level. Th
andriy [413]

Answer:

154 E=.05ounce, σ=0.24 ounce, and z=2.58 for a 99% confidence level n= z^2 * σ^2 / E^2 is the correct answer.

Explanation:

7 0
3 years ago
A firm in a perfectly competitive market has a fixed cost of $1,000 and a variable cost of $500 while it is earning the revenue
grin007 [14]

Answer:

Firm should not shut down, as it is able to cover its Average Variable Cost

Explanation:

Perfect Competition firms in Short Run : The firms produce even if their average revenue (price) < their average total costs (AC). They continue production until Average variable cost (AVC) ≥ per unit price (P) i.e average revenue (AR). This is called Shut Down Point. P lower beyond AVC implies that firm won't continue even in short run.

Given : Variable Cost (VC) = 500 ; Revenue (R) = 510

Average Variable Costs & Average Revenue are variable costs & revenue, per unit quantity. AVC = VC / Q ; AR (P) = R / Q

R i.e 510 > VC i.e 500

So, R/ Q i.e AR is also > VC / Q i.e AVC

Since AVC > AR (P), firm should not shut down

8 0
3 years ago
A copy machine cost $ 45 comma 000 when new and has accumulated depreciation of $ 44 comma 000. Suppose Print and Photo Center s
natita [175]

Answer:

The disposal resulted was at D. No gain or loss

Explanation:

The gain or loss on disposal on a fixed asset is calculated by comparing the sales proceeds from disposing off the asset and the carrying value of the asset.

The carrying value of the asset is its net book value which is calculated as follows,

Carrying value = Cost - Accumulated depreciation

If the carrying value is equal to the sales proceeds from disposal, there is no gain or loss.

The carrying value of copy machine was = 45000  -  44000  =  $1000

The sales proceeds were also $1000

Thus, gain/loss on disposal = 1000 - 1000 = $0

Thus, there was no gain or loss on disposal.

6 0
3 years ago
Read 2 more answers
What is an example of a general safety hazard?
Ket [755]

Answer:

poorly maintained equipment

5 0
3 years ago
Read 2 more answers
Other questions:
  • Complete the description of how George financed his car purchase.
    11·1 answer
  • Marigold Corp. uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $12
    6·1 answer
  • Q 3.53: During the month of August, Jackson Products recognizes $15,000 in revenues. Jackson's accounting staff records these re
    6·1 answer
  • The following financial data are for the dental practice of Dr. Donna Wells when she began operations in July.
    5·1 answer
  • Lemon company purchased 100 units for $20 each on January 31. It purchased 200 units for $30 each on February 28. It sold 200 un
    11·1 answer
  • Lunderville Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 3,200 units
    13·1 answer
  • MC Qu. 12-118 The company would report net cash... Net income$14,500 Cash dividends paid to stockholders 3,400 Cash proceeds fro
    15·1 answer
  • 100 points
    8·2 answers
  • The process of measuring marketing results and adjusting the marketing plan as needed is called marketing ________.
    5·1 answer
  • For investors, changes made to the tax code by the government are known as a form of:______.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!