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UNO [17]
3 years ago
10

g A manufacturing company that produces a single product has provided the following data concerning its most recent month of ope

rations: Selling price $ 131 Units in beginning inventory 0 Units produced 3,320 Units sold 2,890 Units in ending inventory 430 Variable cost per unit: Direct materials $ 45 Direct labor $ 15 Variable manufacturing overhead $ 7 Variable selling and administrative $ 19 Fixed costs: Fixed manufacturing overhead $ 92,960 Fixed selling and administrative expenses $ 28,900 The total gross margin for the month under absorption costing is:
Business
1 answer:
JulijaS [17]3 years ago
6 0

Answer:

$104,040

Explanation:

For the computation of total gross margin for the month under absorption costing first we need to compute the total unit product cost which is shown below:-

Total unit product cost = Direct material + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead

= $45 + $15 + $7 + ($92,960 ÷ 3,320)

= $45 + $15 + $7 + $28

= $95

Gross profit = Sales revenue - Cost of goods sold

= (2,890 × $131) - (2,890 × $95)

= $378,590 - $274,550

= $104,040

So, for computing the gross profit we simply deduct the cost of goods sold from sales revenue.

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Price, Speed, Gas type, Quality, and Reliability

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2 years ago
5. A business in its first period of trading charges $4,000 of sales tax on its sales and suffers $3,500 of sales tax on its pur
Katyanochek1 [597]

The unrecoverable sales tax on business entertaining ($250) has been deducted from $3,500

solution

                                   SALES TAX CONTROL ACCOUNT

Payable s                                             $ 3250        Receivables       $4000

Balance c/d (owned to tax authority)   $ 750

                                                           -------------                                ---------------

                                                             $ 4000                                    $4000

                                                           --------------                               ----------------

                                                                              By balance b/d       $ 750

8 0
3 years ago
Mary promises to give her car to her friend. the friend sells his current car for a fairly low price because he is expecting to
elixir [45]
<span>If the friend sues Mary, the court most likely will not require Mary to do anything because this was a gift promise. In order for a gift promise to be enforceable by the law, it should be a contract. And in order for it to be a contract, there should be a consideration received by Mary but in this case, no consideration was received by Mary therefore, the promise is unenforceable.</span>
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3 years ago
Jasmine started a new business in the current year. She incurred $18,000 of start-up costs. How much of the start-up costs can b
liq [111]

Answer:

$5,000

Explanation:

According to the Internal Revenue Service, the amount of deduction for startup costs would be limited to $5,000 if the startup costs are $50,000 or less

However, if the start-up costs were more than $50,000, the deduction would be decreased by the dollar amount.

Since in the given scenario, the $18,000 is the startup cost so she is eligible for the deduction of $5,000

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3 years ago
What kind of skills is necessary as an art and communication manager?
adoni [48]

Answer: all of the above

Explanation:

3 0
2 years ago
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