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pantera1 [17]
2 years ago
10

AJ Manufacturing Company incurred $54,000 of fixed product cost and $43,200 of variable product cost during its first year of op

eration. Also during its first year, AJ incurred $17,200 of fixed selling and administrative costs and $13,800 of variable selling and administrative costs. The company sold all of the units it produced for $176,000.
Required
a.
Prepare an income statement using the format required by generally accepted accounting Principles (GAAP).
Business
1 answer:
kvv77 [185]2 years ago
8 0

Answer:

Explanation:

The preparation of the income statement is presented below using the generally accepted accounting Principles (GAAP) :

Sales $176,000

Less: Cost of goods sold ($97,200)         ($54,000 + $43,200)

Gross margin $78,800

Less: Selling and administrative cost ($31,000)    ($17,200 + $13,800)

Net income $47,800

Hence, we considered all the given information

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ABC Company, which is headquartered in the U.S., has its production plant located in a less- developed country. In this producti
SashulF [63]

Answer:

The answer is: a

Explanation:

Ethics refer to moral values which govern a person or in this instance, an organisation. Business ethics encompasses the use of appropriate business policies and practices by companies when handling controversial matters such as corporate social responsibility, bribery, workplace discrimination and so on. These policies and practices are governed by the company's values. ABC company has a dismal code of ethics when it comes to their overseas production. The company is enjoying low cost production at the expense of its employees working under hazardous conditions with very little pay. These employees will potentially suffer long-term illness as a result of their work and they would not be able to afford treatments or requisite medication. These actions by ABC company are morally unjust and therefore not ethical in the lieu of their operations.

4 0
3 years ago
Using the variable cost method, determine the selling price (rounded to the nearest dollar) for 30,000 units using the following
Brilliant_brown [7]

Answer:

c. $8

Explanation:

Calculation to determine the selling price

First step is to calculate the Markup percent

Markup percent= (90,000 + 150,000) / (30,000 x 15)

Markup percent = .533

Now let calculate the selling price

Selling price=533 x $15 per unit

Selling price= $8

Therefore the Selling price will be $8

7 0
3 years ago
Which two types of accounts offer tax benefits before saving?
Ainat [17]
A and D are the correct answer
7 0
3 years ago
What would be the yearly earnings for a person with $9900 in savings at an annual interest rate of 11.2% percent? (Round your an
svetoff [14.1K]

Answer:

$1,109

Explanation:

The computation of the yearly earnings is shown below:

Yearly earnings = Savings × Annual interest rate

                          = $9,900 × 11.2%

                          = $1,109

For computing the yearly earnings, we multiplied the saving with the annual interest rate so that the estimated amount can come

6 0
3 years ago
Ajax Corp., an American company, owns a factory in China. Managers often report back to headquarters in the U.S. that Chinese go
Luden [163]

Answer:

The correct answer is bureaucratic.

Explanation:

Bureaucracy is the organization or structure that is characterized by centralized and decentralized procedures, division of responsibilities, work specialization, hierarchy and impersonal relationships. The term is used in sociology, in administrative science and, especially, in public administration. It could be defined as a set of techniques or methodologies arranged to learn or rationalize the external reality (to which it intends to control the central power) in order to know it and call it in a standardized or uniform way. A clear example of this characteristic of bureaucracies, particularly those of government, is the hiring and assignment or removal of personnel, that is, officials, according to explicit criteria and relevant to the performance of duties.

4 0
3 years ago
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