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expeople1 [14]
4 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]4 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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Aaron questions whether there is consideration for his contract with Banquet Hall to exchange his musical performance of country
jolli1 [7]

Answer:

Legally sufficient.

Explanation:

The answer is that to constitute consideration, the value of whatever being exchanged must be legally sufficient because this means that consideration must be enough in the terms of the law like comitting to do something that you are otherwise not obligated to do.

6 0
4 years ago
An indifference curve shows the various bundles of goods that:_________ A. all cost the same amount of money. B. make the consum
erica [24]

Answer:

B. make the consumer equally happy.

Explanation:

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Hence, an indifference curve shows the various bundles of goods that make the consumer equally happy.

3 0
3 years ago
Land costing $79,700 was sold for $90,300 cash. The gain on the sale was reported on the income statement as other revenue. On t
Ray Of Light [21]

Answer:

$90,300

Explanation:

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8 0
3 years ago
Which aspect of production planning might make use of a Gantt chart?
butalik [34]
I think it would be C
5 0
3 years ago
What is the incremental percentage paid on income taxes called?
Westkost [7]

What is the incremental percentage paid on income taxes called The marginal tax rate

For better understanding, lets explain marginal tax rate

  • Marginal tax rate is simply referred to as the increase in taxes as a percentage of the increase in income. That is the change in the tax payment is divided by the change in income.

  • Marginal tax rate = Change in taxes due/change in taxable income

from the above, we can therefore say that the answer What is the incremental percentage paid on income taxes called marginal tax rate

Learn more about marginal tax rate from:

brainly.com/question/23568955

7 0
3 years ago
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