The total variable cost reported on Quaint Quilt's variable costing income statement is: $124,020
Calculation to determine the total variable costing income statement
Using this formula
Variable costing income statement=(Variable manufacturing costs+Variable selling and administrative costs )×Sales
Let plug in the formula
Variable costing income statement($140 + $19) x 780 quilts sold
Variable costing income statement=$159×780 quilts sold
Variable costing income statement=$124,020
Inconclusion The total variable cost reported on Quaint Quilt's variable costing income statement is: $124,020.
Learn more here:
brainly.com/question/13214374
A fraud in general terms refers to a wrongful or criminal deception intended to result in a financial or personal gain. This kind of acts should be more observe especially to those people that are done by the wrongful act and theories and some investigation should be done in order to counter the next incident that might happen with the same kind of fraud.
Answer:
Yes, common and operational expenses.
The effect on financial statement would be dynamic, as some figures would fluctuate based on volume
Explanation:
A flexible budget is very much adjustable based on the level of production activity. Hence this will also reflect on the financial statement, if management takes this approach
Injuries during working hours at a construction site leads to several legal consequences. If a person gets injured at working site, he/she can file civil law suit for negligence or product liability.
In the above situation, Flo was not wearing any safety wear while working on the construction site of a Grider company. She can file a product liability suit against the Girder company.
The company can most successfully raise the defense of "negligence". Since Flo was not wearing any safety wear during her working hours, the company can raise the defense of negligence because she knew that working on construction site without wearing safety gears may cause harm to her.
Answer:
See explanations below.
Explanation:
1. Yes. Overhead should be applied to job W at year-end. Overhead is applied to every jobs whether or not they are completed at year end.
b. To calculate the amount of overhead to be applied to job W, we need to calculate first the overhead application rate based on direct labor cost through job V.
Direct labor cost. $8,000
Overhead applied $6,000
Overhead rate = [ Overhead applied / Direct labor cost ] × 100
= [6,000/8,000] × 100
= 75%
Overhead to be applied to job W
Direct labor cost $4,000
Overhead rate 75%
Overhead to be applied = $3,000
It therefore means that $3,000 should be applied to job W.
2. Because job W was not completed at the year end, it would then be included in the work in process inventory in the financial statements of Sigma Corporation at year end.
