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3 years ago

Which of the following best describes costs assigned to the product under the absorption costing method?

Business

1 answer:

____ [38]3 years ago

7 0

Answer:

a) Direct labor (DL)

b) Direct materials (DM)

d) Variable manufacturing overhead (VOH)

f) Fixed manufacturing overhead (FOH)

Explanation:

Absorption costing method allocates to a product the direct costs: direct labor used in the production process, and the direct raw materials that were transformed into the product, and also allocates the two types of manufacturing overhead: variable and fixed.

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If all courses were regular (not honors or AP) 1 credit classes, calculate the student's GPA based on the following grades:

seraphim [82]

Answer:

2.83

Explanation:

A=4.0

B=3.0

C=2.0

D=1.0

F=0.0

Add all the numbers that are coordinated with the grade, then divide by how many grades there. Basically just finding the average: 4+4+3+2+3+1= 17, 17/6=2.83

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3 years ago

Adjustments help to ensure that __________ balances are reported at amounts representing the economic benefits used during the p

ycow [4]

Answer:

Adjustments help to ensure that asset  balances are reported at amounts representing the economic benefits used during the period.

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3 years ago

Net income was $450,000. Beginning and ending stockholders' equity was $4,000,000 and $4,800,000, respectively. Beginning total

Blababa [14]

Answer:

The correct answer is B. 7.143 %.

Explanation:

Return on assets is a profitability ratio that provides how much profit a company is able to generate from its assets. In other words, return on assets (ROA) measures how efficient a company's management is in generating earnings from their economic resources or assets on their balance sheet. ROA is shown as a percentage, and the higher the number, the more efficient a company's management is at managing its balance sheet to generate income.

The formula to calculate it is given below.

ROA = Net Income/Average total asset * 100

= 450,000/ 6,300,000*

= 7.14 %

*= (6,000,000 + 6,300,000)/2

7 0

3 years ago

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

sertanlavr [38]

Answer:

Results are below.

Explanation:

The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).

First, we need to calculate the total unitary variable cost:

Total unitary variable cost= 38 + 36 + 6 + 9

Total unitary variable cost= $89

Now, the income statement:

Sales= 8,400*120= 1,008,000

Total variable cost= 89*8,400= (747,600)

Total contribution margin= 260,400

Fixed manufacturing overhead= (151,300)

Fixed selling and administrative expense= (109,200)

Net operating income= (100)

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

First, we need to calculate the unitary production cost:

Unitary production cost= 38 + 36 + 6 + (151,300 / 8,900)

Unitary production cost= $95

Now, the income statement:

Sales= 1,008,000

COGS= 8,400*95= (798,000)

Gross profit= 210,000

Total selling and administrative expense= 109,200 + (8,400*9)= (184,800)

Net operating income= 25,200

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3 years ago

The following information is available on a depreciable asset owned by Mutual Savings Bank: Purchase date July 1, Year 1 Purchas

Volgvan

Answer:

depreciation expense 4,062.5 debit

accumulated depreciation 4,062.5 credit

Explanation:

We will do the depreciation without doing retrospective adjustement as this is new information not an accounting mistake.

book value: 70,000

change in salvage value: 5,000

depreciable ammount : book value - new salvage value:

70,000 - 5000 = 65,000 depreciable amount

useful life: 8 years

65,000 / 8 = 8.125‬

half-year depreication: 8,125 / 2 = 4,062.5

8 0

3 years ago