PLEASE HELP WILL MARK AS BRAINLIEST

During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 48,000 mini refrigerators, of whi

Anvisha [2.4K]

Answer:

Part a.

Income statement based on the absorption costing concept.

Sales $8,800,000.00

Less Cost of Sales

Beginning Inventory $0

Add Manufacturing Cost $6,048,000.00

Less Ending Inventory ($504,000.00) ($5,544,000.00)

Gross Profit $3,256,000.00

Less Expenses :

Selling and administrative expenses:

Variable $528,000.00

Fixed $352,000.00 ($880,000.00)

Net Income/(loss) $2,376,000.00

Part b.

Income statement based on the variable costing concept.

Sales $8,800,000.00

Less Cost of Sales

Beginning Inventory $0

Add Manufacturing Cost $5,520,000.00

Less Ending Inventory ($460,000.00) ($5,060,000.00)

Contribution $3,740,000.00

Less Expenses :

Fixed manufacturing cost $528,000.00

Selling and administrative expenses:

Variable $528,000.00

Fixed $352,000.00 ($1,408,000.00)

Net Income/(loss) $2,332,000.00

Part c.

Reason : Fixed Costs deferred in Ending Inventory in Absorption Costing has resulted in a higher Income.

Explanation:

Units in Ending Inventory Calculation :

Production 48,000

Less Sales (44,000)

Ending Inventory 4,000

Absorption Costing Calcs

Variable Manufacturing Costs

Direct materials $3,360,000.00

Direct labor $1,344,000.00

Variable manufacturing cost $816,000.00

Fixed manufacturing cost $528,000.00

Total $6,048,000.00

Ending Inventory = $6,048,000.00 × 4,000 / 48,000

= $504,000

Variable Costing Calcs

Variable Manufacturing Costs

Direct materials $3,360,000.00

Direct labor $1,344,000.00

Variable manufacturing cost $816,000.00

Total $5,520,000.00

Ending Inventory = $5,520,000.00 × 4,000 / 48,000

= $460,000

4 0

3 years ago

Travis has agreed to invest $16,000 in a partnership with his sister and brother-in-law. He does not intend to actively work in

german

Answer:

D. Limited partner

Explanation:

Limited partner -

It is one of the owner of a company or organization , where the liability of the firm's debt is not allowed to raise than the other investor of the company .

Limited partner is also known as silent partners .

The limited partner has very restricted voting rights on the business of the company , and even is not involved in the day - to - day activity of the business .

The role of the limited partner is to invests some amount of money for exchange of the shares in a partnership .

Hence , from the information of the question ,

Travis is a Limited partner in the given partnership .

6 0

3 years ago

Suppose Asarta Inc. is polluting yucko and they have been tasked with cleaning up some of their waste. The company decides to cl

uranmaximum [27]

Answer: The answer is No, because the MB > MC

Explanation:

They are not cleaning up enough because the MB>MC. Therefore, all other options which cut across - Yes, because the MC > MB,

No, because the MB > MC,

Yes, because the MB > MC and

No, because the MC > MB are wrong.

5 0

3 years ago

Which of the following statements correctly describes the effects of price controls? A. They cause demand disruptions and could

velikii [3]

Answer:

Option a and b

Option C

Explanation:

A . In simple words, price control refers to the limits on the rates that can be paid for good and services produced in a marketplace that are set up and imposed by central govt.

The purpose behind these restrictions may derive from the need to preserve the availability of products even through skills shortages, and to further delay inflation, or, instead, to help ensure a guaranteed minimum income as well for manufacturers of such products or to seek to obtain a decent living wage.

B. In simple words, due to printing of new currency the supply of money ion the market would increase which will lead to inflation in the economy which will further lead to loss in value of the existing money in hand on the individuals.

3 0

3 years ago

An employee has an average wage of $60,000 and has worked for the firm for 28 years. The defined benefit pension plan pays retir

riadik2000 [5.3K]

Answer:

An employee has an average wage of $60,000 and has worked for the firm for 28 years. The defined benefit pension plan pays retirees 2.3% of the average wage times the years of service. The employee can expect to receive __$1,380_____ per year upon retirement.

Explanation:

a) Data and Calculations:

Average wage = $60,000

Number of years worked in the firm = 28 years

Defined benefit pension plan rate = 2.3%

Annual defined benefit pension plan = $1,380 ($60,000 * 2.3%)

Total benefit to be received = $38,640 ($1,380*28) or ($60,000 *28 * 2.3%).

b) This employee is expected to receive the total benefit of $38,640 for serving the firm for 28 long years under the defined pension plan, given the plan rate of 2.3% of the average wage.

8 0

3 years ago