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expeople1 [14]
3 years ago
8

Ming Company had net income of $772,200 based on variable costing. Beginning and ending inventories were 7,800 units and 5,200 u

nits, respectively. Assume the fixed overhead per unit was $3.00 for both the beginning and ending inventory. What is net income under absorption costing?
Business
1 answer:
Otrada [13]3 years ago
7 0

Answer:

$764,400

Explanation:

Given that,

Net income under variable costing = $772,200

Beginning inventories = 7,800 units

Ending inventories = 5,200 units

Fixed overhead per unit = $3

Net income under absorption costing:

= Net income under variable costing - [(Beginning inventories - Ending inventories) × Fixed overhead per unit]

= $772,200 - [(7,800 - 5,200) × $3]

= $772,200 - $7,800

= $764,400

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3 years ago
Geert Hofstede defines _____ as that component of our mental programming which we share with more of our compatriots as opposed
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National Culture.

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Which of the following generates revenue for Google?
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3 years ago
Read 2 more answers
Assume that abby, ben, clara, joe, and matt are the only citizens in a community. A proposed public good has a total cost of $10
STatiana [176]

Answer: In a majority vote, this proposal will most likely be accepted.

Explanation:

The cost of the proposed public goods is $1000, which will be shared equally among the 5 people. So, per person share on the provision of public good will be,

=\frac{1000}{5}

=$200

Since, Abby, Ben and Clara value the good more than the cost they will vote in favor of the provision. But Joe and Matt value it less than the cost so they will vote against the provision.

Value to Abby is $220 which is greater than $200.

Value to Ben is $210 which is greater than $200.

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3 years ago
A firm sells its product in a perfectly competitive market where other firms charge a price of $80 per unit. The firm’s total co
bagirrra123 [75]

Answer:

A) Q=17

B) $80

C) 518

Explanation:

C(Q) = 60 + 12Q + 2Q2

and its MC = 12+ 4Q

a.How much output should the firm produce in the short run?

Put P = MC and solve for Q

P=MC

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b.What price should the firm charge in the short-run? $80

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TotalCost=60+12x17+2(17)2=60+204+578=842

Profit=1360-842=518

6 0
3 years ago
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