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
Naddik [55]
3 years ago
15

During its first year of operation Salon Manufacturing Company sold 1,200 units of inventory. Salon incurred variable product co

st of $6.50 per unit and $2,500 of fixed manufacturing overhead costs. The sales price of the products was $10.00 per unit. Salon uses absorption costing. Based on this information Salon will report net income of (Do not round intermediate calculations.)
Business
1 answer:
kotegsom [21]3 years ago
5 0

Answer:

Net Income under absorption costing =$1,700

Explanation:

<em>Absorption costing is a method of costing where production units and inventories are value at the full cost per unit. Here, fixed overheads are charged to  all units produced using an overhead absorption rate</em>

<em>The full cost per unit = D.mat cost + D.labour cost + Variable overheads+ Fixed overheads</em>

Overhead absorption rate = Overhead for the period/

Net Income = (1200 × $10) - (1200× $6.50) - 2,500

                  = $1,700

Net Income under absorption costing =$1,700

You might be interested in
It usually takes less time to buy a six-pack of Pepsi, a loaf of bread, and a bag of potato chips at a small convenience store (
Marrrta [24]

Answer:

a person who works at a full-service grocery store

8 0
2 years ago
Suppose the price elasticity of demand for cereal is negative −1.03. If​ so, then the demand for cereal is (unit-elastic, elasti
kari74 [83]

Answer:

The demand for cereal is elastic.

The demand for the magazine is inelastic.

Explanation:

The price elasticity of demand is the degree of responsiveness of quantity demanded to change in price. A negative price elasticity implies that the product is a normal good.

The price elasticity of demand for cereal is −1.03. This means that the demand is price elastic. An elastic demand implies that a change in price will cause more than proportionate change in quantity demanded.

The price elasticity of demand for a particular magazine is −0.72. This means that the demand is price inelastic. An inelastic demand implies that a change in price will cause less than proportionate change in the quantity demanded.

5 0
3 years ago
hello people if u are interesting in getting tutoring for any subject contact me i have the best auntie/tutor ever she nice and
Kitty [74]
Me and my sister are in high school, and need tutoring in geometry and algebra 2, could she help?
4 0
3 years ago
Which of the following statements is NOT true of a department in the merchandise classification scheme? it is the second level i
Eva8 [605]
The first one is true I think
7 0
3 years ago
Identify the principle of internal control to each of the following cases. 1. Cash is locked in a safe overnight. select princip
ivann1987 [24]

Answer:

1. Physical control

2. Segregation of duties

3. Pre-numbered documents

4. Segregation of duties

5. Establishment of responsibility

Explanation:

1. As this shows that someone locked cash in safe, so this will be physical control.

2. As this shows the division of duties among employees, so this will be segregation of duties.

3. As this shows documents are pre numbered so it comes under pre-numbered documents.

4. As this shows the division of duties for bookkeeper, so it comes under segregation of duties.

5. This shows the responsibility of any work on a person, so this will be establishment of responsibility.

4 0
2 years ago
Other questions:
  • Invested Capital Corporation provides other firms with funds to expand operations. If Invested Capital strictly complies with ex
    13·1 answer
  • Suppose that Andy sells basketballs in the perfectly competitive basketball market. His output per day and his costs are as​ fol
    12·1 answer
  • Suppose that Radical Board's manager simply verifies employment for the camp director. During Keller's first month at the camp,
    9·1 answer
  • Jacobs Company borrowed $100,000 at 8 percent interest for three months.
    15·1 answer
  • A basic principle of economics is that a country’s standard of living depends on its a. Quantity of physical capital. b. Abundan
    9·1 answer
  • A third method for determining the forecasted cost at completion is to re-estimate the costs for all the remaining work to be pe
    12·1 answer
  • How can I find a good job???
    9·2 answers
  • Sweet Dreams Chocolatiers Ltd. began operations on January 1, 2020. During its first year, the following transactions occurred:
    6·1 answer
  • Sue Peters is the controller at Vroom, a car dealership. Dale Miller recently has been hired as bookkeeper. Dale wanted to atten
    11·1 answer
  • A contract or ________ stipulates in writing all the client's requirements and gives all of the relevant information.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!