Answer:
Income under absorption costing = $1,100,000
Explanation:
Marginal and absorption costing are two different methods to deal with fixed production overheads and and decide whether or not they are included in valuation of inventory.
<u>Valuation of inventory</u>
Opening and closing inventory are valued at variable cost under variable costing. Whereas in absorption costing, opening and closing inventory are valued at full production cost (including fixed production overheads).
<u>Reconciling profits reported under two different methods</u>
When inventory levels increase or decrease during a period then profits will differ under absorption and marginal costing because of fixed production cost.
Net Income under absorption costing = Income under variable costing + fixed production cost in ending inventory – fixed production cost in beginning inventory
= $1,050,000 + $300,000 - $250,000
= $1,100,000
Answer:
(a) 3.2
(b) 10 minutes
(c) 0.8
Explanation:
Mean number of customer in service:
= Arrival rate ÷ service rate
= 24 in 60 min ÷ 30 in 60 min
= 24 ÷ 30
= 0.8
a) Average number of people in line:
= (Mean number of customer in service × arrival rate) ÷ (Service rate - arrival rate)
= 0.8 × (24 ÷ 6
)
= 3.2
b) Average time spend at the ticket office is = 10 minutes
c) Proportion of time server is busy:
= Arrival rate ÷ service rate
= (24 in 60 min ÷ 30 in 60 min)
= 24 ÷ 30
= 0.8
Answer:
Bad debt expense $11,320 ($283,000 × 4%)
To Allowance for doubtful debts $11,320
(being the bad debt expense is recorded)
Explanation:
The journal entry is shown below:
Bad debt expense $11,320 ($283,000 × 4%)
To Allowance for doubtful debts $11,320
(being the bad debt expense is recorded)
For recording this given transaction, we debited the bad debt expense as it increases the expenses account and at the same time it decreases the account receivable so the allowance would be credited so that the proper posting could be done
To answer this item, we let x be Jeff's speed when going back home. With this representation, the speed from home to his parents is x + 9. The total time it took him for the trip is 8 hours. The time of each trip can be calculated by dividing the distance by time. Such concept is presented below.
8 hours = 160/x + 160/(x + 9)
The value of x from the equation is 36. Thus, his speeds were 36 miles/h and 45 miles/h.
I think it’s b chapter 10
