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3 years ago

A manufacturer reports the following information below for its first three years in operation.

Business

1 answer:

Usimov [2.4K]3 years ago

4 0

Answer:

e. $111,000

Explanation:

Absorption costing income for year 3 = Income under variable costing - {Beginning inventory (units) * Fixed manufacturing overhead per unit} + {Ending inventory (units) * Fixed manufacturing overhead per unit}

Absorption costing income for year 3 = 115,000 - (500*8) + (0*8)

= 115,000 - 4,000 + 0

= $111,000

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3 years ago

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Answer:

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3 years ago

Lamp Corp. manufactures wooden desks. Production consists of three processes: cutting, assembly, and finishing. The following co

Liono4ka [1.6K]

Answer:

See the journal entry be;ow.

Explanation:

Given:

Cutting Assembly Finishing

Direct materials $7,000 $10,000 $3,000

Direct labor 3,000 14,000 2,000

Applied overhead 4,000 5,000 6,000

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Details Debit ($) Credit ($)

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3 years ago

On January 1, Five Star Services has the following balances: Accounts Receivable $ 26 comma 000 (debit) Bad Debts Expense $ 0

PIT_PIT [208]

Answer:

$53,000

Explanation:

Data given in the question

Beginning Accounts Receivable = $26,000

Credit Sales = $130,000

Collections of credit sales = $87,000

Write-offs = $16,000

As we know that

Ending Accounts Receivable = Beginning Accounts Receivable + Credit Sales - Collections of credit sales - Write-offs

= $26,000 + $130,000 - $87,000 - $16,000

= $53,000

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3 years ago