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polet [3.4K]
3 years ago
7

The following information was collected for the first year of manufacturing for Appliance Apps: Direct Materials per Unit $2.50

Direct Labor per Unit $1.50 Variable Manufacturing Overhead per Unit $0.25 Variable Selling and Administration Expenses $1.50 Units Produced 39,000 Units Sold 33,000 Sales Price $12 Fixed Manufacturing Expenses $117,000 Fixed Selling and Administration Expenses $21,000 Prepare an income statement under variable costing method.
Business
1 answer:
lara31 [8.8K]3 years ago
4 0

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the total unitary variable cost:</u>

Total unitary variable cost=2.5 + 1.5 + 0.25 + 1.5

Total unitary variable cost= $5.75

<u>Now, the variable costing income statement:</u>

Sales= 33,000*12= 396,000

Total variable cost= (33,000*5.75)= (189,750)

Total contribution margin= 206,250

Fixed Manufacturing Expenses= (117,000)

Fixed Selling and Administration Expenses= (21,000)

Net operating income= 68,250

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Which of the following items is included in the calculation of GDP? a.purchase of 100 shares of Microsoft stock b.purchase of a
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Answer:

The correct answer is option e.

Explanation:

The GDP of a country is the value of final goods and services produced in the geographical boundaries of a nation in a year. It does not include the value of intermediate goods produced. This is because it may lead to double counting. So the value of intermediate goods is included as a part of the value of the final good. It also does not include the value of services provided by homemakers.

Financial transactions such as purchase and sale of stocks and shares are not included. This is because it does not involve the production of any good or service. Sale of second-hand goods is also not included because of the problem of double counting.

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3 years ago
Brian had the following items of income this year. • Salary - $22,000 • Child support received - $6,000 • Alimony received - $10
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Answer:

$82000

Explanation:

Gross income is defined as the total sum of money received (salary, wages, rents, interests and other form of earnings) that an individual or a household receive before any deductions or taxes. Hence,

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Salary = 22000

Alimony = 10000

Punitive damage = 50000

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4 0
3 years ago
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What types of information are found on a balance sheet ? (Select all that apply.)
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C) Interest expense.
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Coast to Coast Surfboards Inc. manufactures and sells two styles of surfboards, Atlantic Wave and Pacific Pounder. These surfboa
podryga [215]

Answer:

Contribution margin ratio:

For East Coast = 10%

For West Coast = 8.05%

Explanation:

As per the data given in the question,

Contribution margin by sales territory report :

C C S Inc.

Contribution margin by Territory

Particulars                             East Coast                     West Coast

Sales (a)                                $8,400,000                     $8,610,000

(30,000×$280)+(0×$130)

(21,000×$280)+(21,000×$130)

Less: variable cost of goods sold(b) $6,600,000      $6,657,000

(30,000×$220)+(0×$97)

(21,000×$220)+(21,000×$97)

Manufacturing margin (c=a-b) $1,800,000                  $1,953,000

Less: Variable selling expense (d) $960,000             $1,260,000

(30,000×$32)+(0×$28)

(21,000×$32)+(21,000×$28)

Contribution margin (e=c-d)        $840,000                 $693,000

For East Coast:

Contribution margin ratio = (Contribution margin ÷ Sales revenue)×100

=($840,000÷ $8,400,000)×100

= 10%

For west coast:

Contribution margin ratio = (Contribution margin ÷ Sales revenue)×100

=($693,000 ÷ $8,610,000)×100

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<span>A party who agrees to act on behalf of another person or party is called an agent.</span>
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