Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Selling and administrative expenses consist of $400,000 in annual fixed expenses and $2 per unit in variable selling and administrative expenses. The company's product cost of $30 per unit is computed as follows. Direct materials $ 4 per unit Direct labor $ 16 per unit Variable overhead $ 4 per unit Fixed overhead ($600,000 / 100,000 units) $ 6 per unit.
We don't have the information of selling price and units sold.
Income statement:
Sales
Variable costs:
Direct material
Direct labor
Variable manufacturing overhead
Total variable cost (-)
Contribution margin
Fixed costs (-)
Net operating income
Answer:
350,000
And if done per unit, $3.50
Explanation:
Both sales and variable cost are dependent on the number of units sold.
The sales less the variable cost gives the contribution margin. The contribution margin less the fixed cost gives the net operating income.
The target cost of the product is the difference between the selling price and the anticipated profit.
Target cost per unit
= $6.00 - $2.50
= $3.50
Total Target cost = $3.50 * 100,000
= $350,000
Answer:
D.....................................
Answer:
A. DR Petty Cash 200; CR Cash 200
Explanation:
We are asked for the entry on June 1st to stablish the petty cash fund.
The data on June 30th is irrelevant for this question.
We will only work with the information of june 1st
The ptty cash, will be an asset account. To crease an asset account we will debit it.
On credit side, we need to show how is this asset generated. In this case, with another asset, cash. Cash will be credited to show that 200 cash from the main account has been moved into the petty fund
Answer:
Explanation:
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