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USPshnik [31]
3 years ago
11

Variable and Absorption Costing-Service Company Jensen's Tailoring provides custom tailoring services. After the company's first

year of operations, its owner prepared the following summarized data report for 2016
Sales (500 completed jobs)$150,000
Tailoring costs (550 jobs)
Direct labor70,500
Manufacturing overhead
Variable18,000
Fixed13,500
Operating expenses
Variable8,400
Fixed8,700

Required:
Prepare an income statement based on full absorption costing
Business
1 answer:
loris [4]3 years ago
5 0

Answer:

124

Explanation:

Yes

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"during its first year of business, xyz inc. purchased $1,600 of supplies. by the end of the year, only $500 of supplies remain
algol [13]

The correct answer is $500.

An adjusted trail balance is prepared at the end of the accounting period. On this statement you will have what the value of the supplies in inventory is on the last day of the accounting cycle. In this example there are $500 worth of supplies left, which is why it is the correct answer.

6 0
3 years ago
In a(n) __________ marketing channel, several independent members each attempt to satisfy their own objectives and maximize thei
Alina [70]

In an independent marketing channel, several independent members each attempt to satisfy their own objectives and maximize their profits, often at the expense of the other members.

<h3>What is marketing channel ?</h3>

A marketing channel can be described as the channel that consist people, organizations, and activities necessary to transfer the ownership of goods from the point of production to consumption.

It shoul;d be noted that this can be seen as the way products get to the end-user, the consumer; and is also known as a distribution channel.

Therefore, option B is correct.

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6 0
1 year ago
The beginning inventory was 300 units at a cost of $10 per unit. Goods available for sale during the year were 1,300 units at a
Ugo [173]

Answer:

a. The number of units purchased in October = 400

The cost per unit = $12

b-1. Cost of goods sold = $7,950

Ending inventory = $6,450

b-2. Cost of goods sold = $8,650

Ending inventory = $5,750

Explanation:

a) Data and Calculations:

Beginning inventory    300 units  at $10 per unit = $3,000

May purchases            600 units at $11 per unit =     6,600

October purchases     400 units at $12 per unit =    4,800

Goods available        1,300 units                             $14,400

Ending inventory        550 units

Goods sold                 750 units

a. The number of units purchased in October = 400 (1,300 - 300 - 600)

The cost per unit = $12 ($4,800/400)

b-1. Cost of goods sold and ending inventory using FIFO method:

Cost of goods sold:

300 units  at $10 per unit = $3,000

450 units at $11 per unit =     4,950  $7,950

Ending inventory = $6,450 ($14,400 - $7,950)

b-2. Cost of goods sold and ending inventory using LIFO method:

Cost of goods sold:

350 units at $11 per unit =     3,850

400 units at $12 per unit =    4,800

Total Cost of goods sold = $8,650

Ending inventory = $5,750 ($14,400 - $8,650)

8 0
3 years ago
The lowest school dropout rate in the united states in 2008 occurred for:
Ne4ueva [31]
The status dropout rates measures the percentage of individuals who are not enrolled in a certain class or who does not have any school credentials. In the U.S by the year 2008  there was approximately 3.0 million drop out at ages 16 through 24 years old, all were living in United States. 
6 0
3 years ago
Carillo Industries collected $108,000 from customers in 2017. Of the amount collected, $25,000 was for services performed in 201
Elis [28]

Answer and Explanation:

The computation is shown below;

But before reaching to the final answers, first do the following calculations

Cash collected $108000

Add Services performed in 2017(not collected) $36000

less Services performed in 2016(collected in 2017) $25000

Revenue for 2017 $119,000

Cash paid in 2017 $72,000

Add Expense incurred not yet paid for 2017 $42000

Less Expense paid for 2016 -$30000

Expense for 2016 $84000

Now

a. Cash basis  

Revenue $108000

Less Expenses -$72,000

Net income $36000

b. Accrual basis  

Revenue for 2017 $119,000

Less Expenses for 2017 $84,000

Net income $35,000

8 0
3 years ago
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