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Fiesta28 [93]
4 years ago
6

Use the following Window Breeze Company income statement to answer the question. Window Breeze Company is a small manufacturer o

f window air conditioners and reported the following: Window Breeze Company Full Costing Income Statement For the Year Ending December 31, 2011
Sales ($150 per unit) $120,000
Less cost of goods sold 35,000
Gross margin 85,000
Less selling and administrative expenses:
Selling expense $15,000
Administrative expense 15,000 30,000
Net income $55,000
Annual FMOH was $25,000 and 1,000 units were produced. All administrative costs were fixed. Included in the $15,000 selling expense was $10,000 of fixed selling.
Business
1 answer:
Vikki [24]4 years ago
8 0

Missing information:

How much is the value of full costing ending inventory?

Answer:

$8,750

Explanation:

1,000 units were produced and 800 were sold, so ending inventory = 200 units

total production cost per unit (under full costing) = $35,000 / 800 = $43.75

ending inventory = $43.75 x 200 = $8,750

Full costing basically refers to absorption costing, which calculates COGS using both variable and fixed costs (total production costs).

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What is the most popular ownership structure within the u.S.?
Shkiper50 [21]

Answer: As far as business is concerned, the most popular ownership structure in the U.S. is SOLE PROPRIETORSHIP.

Explanation:

Sole proprietorship is the form of business that is owned by a single person, it is easy to form and the business owner exercises total control over their business.

The business owner is solely liable for losses made in the business, and also enjoys all the profits of the business alone.

Usually this kind of business will mostly end with the death of the business owner.

3 0
3 years ago
The U.S. work week has declined from 60 hours in 1890 to 40 hours today. The impact of the decline in working hours:________
Len [333]

Answer:

It will Decreases U.S. real GDP and on the other way round it will increases the well-being of a typical working person in the U.S.

Explanation:

The impact of the decline in working hours is that it will Decreases U.S. real GDP and on the other way round it will definitely lead to increase in the well-being of a typical working person in the U.S. because of the decline in the U.S work week which was formally 60 hours in the 1980 but now 40 hours today because a typical working person will have more time for him/her and the stress involved in working for 60 hours per week will reduce when compared with working for 40 hours per week because a typical working person in the U.S will preferred to work for 40 hours per week than 60hours per week for the betterment of their well being.

4 0
3 years ago
On 1/29, General Electric bought supplies in the amount of $1,500. What account is debited and what account is credited in the r
alexdok [17]

Answer: Debit Supplies

Credit Cash

Credit Accounts payable.

Explanation:

The journal entry is an act of making records of the transactions in an organization which shows the debit and credit balances of the company.

Based on the information given, since General Electric bought supplies in the amount of $1,500, the journal entry will be:

Debit Supply $1500

Credit Cash / Accounts Payable $1500

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Answer:

A

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