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BigorU [14]
3 years ago
5

Helmers Corporation manufactures a single product. Variable costing net operating income last year was $103,000 and this year wa

s $123,500. Last year, $38,400 in fixed manufacturing overhead costs were released from inventory under absorption costing. This year, $14,500 in fixed manufacturing overhead costs were deferred in inventory under absorption costing. What was the absorption costing net operating income last year
Business
1 answer:
Romashka [77]3 years ago
3 0

Answer:

$64,600

Explanation:

Given that

Variable costing net operating income last year = $1,03,000

Fixed manufacturing overhead costs = $38,400

The computation of net operating income is as shown below:-

= Variable cost - Overhead cost

= $1,03,000 - $38,400

= $64,600

So, from the above calculation we simply deduct Variable cost from Overhead cost.

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Akram owns a small farm. He employs 80 workers in the field and has recently hired a manager to help him manage the farm. The in
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Complete Question:

Akram owns a small farm.He employs 80 workers in the field and has recently hired a manager to help him manage the farm. The income of the business varies greatly during the year. The farm makes a small profit but Akram is ambitious. He wants to take over a neighbors farm and increase the range of crops he sells. He thinks that he needs long-term finance and plans to take out bank loan to pay for the takeover. He has already borrowed money to buy a new tractor. A friend has advised him to form a company and sell shares.

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Answer with its Explanation:

The two types of short term finances are as under:

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4 0
3 years ago
Checkable deposits are classified as money because:
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Explanation:

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These deposits help in immediate access to cash. As these deposits are available easily , they are considered to be assets. .

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As these checkable deposits are easily available, they can be readily used in purchasing goods and paying debts.

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