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AleksandrR [38]
3 years ago
14

Fanning Corporation incurs the following annual fixed costs: Item Cost Depreciation $ 80,000 Officers’ salaries 190,000 Long-ter

m lease 42,000 Property taxes 48,000 Required Determine the total fixed cost per unit of production, assuming that Fanning produces 4,000, 4,500, or 5,000 units.
Business
1 answer:
ale4655 [162]3 years ago
6 0

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Item Cost Depreciation $ 80,000 Officers’ salaries 190,000 Long-term lease 42,000 Property taxes 48,000 Required Determine the total fixed cost per unit of production, assuming that Fanning produces 4,000, 4,500, or 5,000 units.

Total fixed costs= 80,000 + 190,000 + 48,000 + 190,000= 508,000

4,000 units= 127

4,500= 112.89

5,000= 101.6

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Wages payable is a liability. An omission of such a liability means that wages expenses is also omitted.

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3 years ago
1. Classify the following manufacturing costs of Business Solutions as (a) variable or fixed and (b) direct or indirect. 2. Prep
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Answer:

Cost of goods manufactured= $3,120

COGS= $2,750

Explanation:

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

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3 years ago
The checkbook of Vance Company had a balance of $2,210.55. The bank statement showed a balance of $4,918.18. The bank collected
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Explanation:

The adjusted reconciled checkbook balance will include:

    checkbook balance                                         $2,210.55

    + bank collect note                                         $2,000.00

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    total =                                                              $4,332.89

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In 2021, Ryan Management collected rent revenue for 2022 tenant occupancy. For financial reporting, the rent is recorded as defe
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