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Kobotan [32]
3 years ago
8

Kluber, Inc. had net income of $900,000 based on variable costing. Beginning and ending inventories were 55,000 units and 52,000

units, respectively. Assume the fixed overhead per unit was $1.25 for both the beginning and ending inventory. What is net income under absorption costing
Business
1 answer:
tensa zangetsu [6.8K]3 years ago
6 0

Answer:

$896,250

Explanation:

Net income under absorption costing= net income under variable costing-( beginning inventory- ending inventory) X fixed overhead 1.25%

= 900,000-[( 55,000-52,000)*1.25]

= 900,000- 3750

=$896,250

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When something is grown and harvested in the same country it is distributed in, it can be considered what?
Vinvika [58]

Answer:

domestic

Explanation:

In business, domestic refers to the home country of the producer or consumer. The domestic market is the market within the borders of the seller's country.  Domestic contrasts with international, which refers to beyond the borders of a country.

Products that are produced and distributed within the country are domestic products. They are often referred to as local products. Domestic goods become exports if sold outside the borders of their country of origin.

5 0
2 years ago
Rahm's credit card issuer calculates interest based on the outstanding
Llana [10]

Answer:

Adjusted balance method.

Explanation:

Adjusted balance method is defined a method of calculating financial interest based on the outstanding balance at the end of the last billing period after the payments after all necessary adjustment to the account has been made.

This method of interest calculating leads to a reduced finance charge with time as payments are being made to offset and reduce the balance on the card

3 0
3 years ago
Schager Company purchased a computer system at a cost of $40,000. The estimated useful life is 10 years, and the estimated resid
Elodia [21]

Answer:

The correct answer is B: $5,600

Explanation:

Giving the following information:

Schager Company purchased a computer system for $40,000. The estimated useful life is 10 years, and the estimated residual value is $5,000.

Double-declining balance method= Netbook value* (2/useful life in years)

Year 1:

Double-declining balance method= (40000-5000)*(2/10)= $7000

Year 2:

Double-declining balance method= (35000-7000)*0.20= $5,600

7 0
2 years ago
The town of Fairness has a law that says that wages should be high enough to ensure that all people can afford to buy enough foo
Angelina_Jolie [31]

Answer:

Price ceiling

Explanation:

The price ceiling means the maximum price that is charged by the supplier to the consumer. If is not affected so it is above equilibrium price and in case when it is below than the demand is greater than the supply.

So in the given question, it is mentioned that the prices of food are set low that are sufficient to meet the requirement represent the price ceiling example

8 0
2 years ago
On January 1, 2021, Perez Co. issued at par $10,000 of 6% bonds convertible in total into 1,000 shares of Perez's common stock.
marusya05 [52]

Answer:

EPS = $4.50

diluted EPS = $2.46

Explanation:

no option is correct since EPS = $4.50, and the rest of the options are all higher amounts. Diluted EPS are always smaller than EPS.  

common stock outstanding = 1,000 stocks

bonds shares (diluted) = 1,000 stocks

net income = $4,500

bond interest = $10,000 x 6% x (1 - 30%) = $420

diluted earnings per share = ($4,500 + $420) / (1,000 shares + 1,000 shares) = $4,920 / 2,000 shares = $2.46

7 0
3 years ago
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