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il63 [147K]
3 years ago
15

Garfield Company has the following information for the current​ year: Beginning fixed manufacturing overhead in inventory $230,0

00 Fixed manufacturing overhead in production 850,000 Ending fixed manufacturing overhead in inventory 50,000 Beginning variable manufacturing overhead in inventory $40,000 Variable manufacturing overhead in production 140,000 Ending variable manufacturing overhead in inventory 30,000 What is the difference between operating incomes under absorption costing and variable​ costing?
Business
1 answer:
Lemur [1.5K]3 years ago
3 0

Answer:

the difference between operating incomes under absorption costing and variable​ costing is $180,000 .

Explanation:

The difference between the two Operating Incomes lies in the amount of Fixed Overheads that has been deferred in Inventory.

So, calculation of the difference will be as follows :

Beginning fixed manufacturing overhead in inventory              $230,000

Less Ending fixed manufacturing overhead in inventory           ($50,000)

Difference  between  absorption costing and variable​ costing $180,000

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Answer:

Res ipsa loquitur

Explanation:

_____ is a tort in which the presumption of negligence arises because the defendant was in exclusive control of the​ situation, and the plaintiff would not have suffered injury but for​ someone's negligence.

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Consider two companies in a world with no taxes that are alike except in borrowing choices. Company 1 has no debt​ financing, an
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Answer:

Company 1 = $2 per share

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Explanation:

Given that,

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Number of shares outstanding for company 1 = 500

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2 years ago
San Francisco Corporation uses two materials in the production of its product. The materials, X and Y, have the following standa
levacccp [35]

Answer:

(1) Material usage variance for X: 1,500 (Favorable)

(2) Material usage variance for Y: -19,500 (Adverse)

Explanation:

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Total = (19,500) + 1,500

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