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In-s [12.5K]
2 years ago
12

Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations:

Selling price $ 168 Units in beginning inventory 0 Units produced 9,650 Units sold 9,250 Units in ending inventory 400 Variable costs per unit: Direct materials $ 32 Direct labor $ 74 Variable manufacturing overhead $ 20 Variable selling and administrative expense $ 24 Fixed costs: Fixed manufacturing overhead $ 144,750 Fixed selling and administrative expense $ 10,200 What is the net operating income (loss) for the month under variable costing
Business
1 answer:
noname [10]2 years ago
4 0

Answer:

The net operating income for the month under variable costing is $11,550

Explanation:

In order to calculate The net operating income for the month under variable costing for Farron Corporation we would have to make the following calculations:

According to the given data:

i) Direct Material=$32  

ii) Direct labor=$74  

iii) Variable manufacturing overhead= $20  

Hence, Variable costing unit product cost (i + ii + iii)=  $126  

A) Sales ($168 per unit * 9250 units sold)=$1,554,000

B) Less variable expenses:  

Variable cost of goods sold  

($126 per unit * 9250 units sold)=$1,165,500  

Variable selling and administrative  

($24 per unit × 9250 units) $222,000 $1,387,500

C) Contribution margin (A – B)=$166,500

D) Less : fixed expenses  

Fixed manufacturing overhead= $144,750  

Fixed selling and administrative $10,200 $154,950

E) Net operating Income ( C-D)=$11,550

The net operating income for the month under variable costing is $11,550

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Answer:

True

Explanation:

Chief financial officer is one of the key positions at any company or firm. Chief financial officer plays a critical role in managing cash, account receivable and inventory management. He/She is responsible for handling the cash and managing the cash in such a way to remove chances of bankruptcy and shortages. Overall, it is an important post to complete all the tasks related to cash handling and inventory.

7 0
3 years ago
Suppose that an economy's labor productivity fell by 3 percent and its total worker-hours remained constant between year 1 and y
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Answer: 1. real GDP declined.

Explanation:

If labor productivity fell yet the workforce did not increase, that means that for Years 1 and 2, workers were producing less than they were producing before because the same number of people were producing.

This means that the amount of goods produced in the country would reduce and therefore GDP would reduce as well as GDP is the amount of goods and services produced in a country. If labor productivity had fallen yet the work-hours had increased, the increase in worker hours would have made up for the loss of labor productivity.

6 0
2 years ago
ABC Corporation reports the following information:
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Answer:

$480,000

Explanation:

Data provided as per the question below:-

Net income = $380,000

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7 0
2 years ago
If the price elasticity of demand coefficient is 4, then:a. a price increase of 1% will reduce quantity demanded by 1/4%b. A pri
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Answer:

A price increase of 1% will reduce quantity demanded by 4%

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If the price elasticity is 4 then, this demand is highly responsive to changes in price.

So it will decrease by more than the price increase.

we must remember that the price-elasticity is determinate  like:

↓QD / ΔP   = price-elasticity

if the cofficient is 4 then a 1% increase in price:

↓QD / 0.01 = 4

↓QD = 0.04

Quantity demanded will decrease by 4%

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2 years ago
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3 years ago
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