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4 years ago

Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations:

Business

1 answer:

taurus [48]4 years ago

5 0

Answer:

The total contribution margin for the month under variable costing is $103,360

Explanation:

Variable Costing Considers only variable manufacturing costs in the calculation of product costs. Fixed Manufacturing Costs are regarded as period cost using this method.

Sales ( $ 91 × 3,230 ) 293,930

Less Cost of Goods Sold

Opening Stock 0

Add Cost of Goods Manufactured

Direct materials ( $ 22 × 3,800) 83,600

Direct labor ( $ 32 × 3,800) 121,600

Variable manufacturing overhead ( $ 5 × 3,800) 19,000

Less Closing Stock ( $ 22+$ 32+ $ 5) × 570 ( 33,630) (190,570)

Contribution 103,360

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I think B is correct

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4 years ago

What is true of the traditional project management approach concerning project scope and technology? (You may select more than o

user100 [1]

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1 year ago

Nell, single and age 38, had the following income and expense items in Nonbusiness bad debt $ 6,000 Business bad debt 2,000 Nonb

Yuki888 [10]

Answer:

Nell's AGI for 2016 is $48,000

Explanation:

The computation is shown below:

= Salary income + interest income - Business bad debt - net loss

where,

Net loss = - Non business short-term capital loss - Non business bad debt + Non business long-term capital gain

= - $3,000 - $6,000 + $4,000

= - $5,000

But the capital loss would be $3,000

So, the adjusted gross income would be

= $50,000 + $3,000 - $2,000 - $3,000

= $48,000

5 0

4 years ago

The following selected information was extracted from the 20x1 accounting records of Lone Oak Products:

Alex777 [14]

Answer:

a. $513,000

b. $913,200

c. $926,400

d. $344,100

e. 11,340 units

Explanation:

a. manufacturing overhead for the year.

Manufacturing Overhead = indirect manufacturing costs

therefore,

Manufacturing Overhead = $109,000 (Indirect labor) + $80,000 x 75 % (Building depreciation) + $344,000 (Other factory costs)

= $513,000

b. cost of goods manufactured.

Cost of Goods Manufactured = Beginning Work In Process + Manufacturing Costs for the Period - Ending Work In Process

= $35,700 + ($15,800 + $175,000 - $18,200) + $254,000 + $513,000 - $62,100

= $913,200

c. cost of goods sold.

Cost of Goods Sold = Beginning Finished Goods + Cost of Goods Manufactured - Ending Finished Goods

= $111,100 + $913,200 - $97,900

= $926,400

d. net income for 20x1, assuming a 30% income tax rate.

Net Income = Gross Profit (Sales - Cost of Goods Sold) - Expenses

= $1,495,000 - $133,000 - $195,000 - ($80,000 x 25%)

= $1,147,000

Income tax = 1,147,000 x 30%

= $344,100

therefore,

Net Income = $1,147,000 - $344,100 = $802,900

e. number of completed units manufactured during the year.

First Calculate Number of Units Sold

Number of Units Sold = 1,495,000 ÷ $130 = 11,500 units

Units manufactured = Units Sold + Ending Finished Inventory - Beginning Finished Inventory

= 11,500 + 1,190 - 1,350

= 11,340 units

6 0

4 years ago

Andre, Beau, and Caroline share profits and losses of their partnership in a :: ratio respectively. If the net income is , c

Brums [2.3K]

Answer: $545,454.55

Explanation:

Caroline's share of the profit would be her sharing ratio over the total ratio time the net income.

= (6 / ( 6 + 2 + 3)) * 1,000,000

= 6/11 * 1,000,000

= $545,454.545

= $545,454.55

7 0

4 years ago