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NNADVOKAT [17]
2 years ago
11

The Southern Corporation manufactures a single product and has the following cost structure: Variable costs per unit: Production

$ 35 Selling and administrative $ 14 Fixed costs per year: Production $216,300 Selling and administrative $190,340 Last year, 7,210 units were produced and 7,110 units were sold. There was no beginning inventory. The carrying value on the balance sheet of the ending inventory of finished goods under variable costing would be:
Business
1 answer:
Blizzard [7]2 years ago
3 0

Answer:

$3,500

Explanation:

Under variable costing method, product costs are calculated on variable manufacturing  costs only.

Step 1 : Determine unit Product Cost

Product Cost = Variable Manufacturing Costs

                      =  $ 35

Step 2 : Determine the units in Inventory

Units in Inventory = Opening Stock + Production - Sales

                              = 0 +  7,210 - 7,110

                              = 100 units

Step 3 : Determine Inventory value

Inventory value = Units x Cost per unit

                           = 100 units x $ 35

                           = $3,500

Conclusion :

the ending inventory of finished goods under variable costing would be: $3,500

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A ceiling fan that was purchased at a local hardware store and then is attached to the ceiling becomes _______ to the property.
Alona [7]

Answer:

The fixture, is the right answer.

Explanation:

The “fixture” is the correct answer because the term fixture refers to the piece of equipment or furniture that is fixed in the house or stays at a fixed position in the building. For example, there are many things in the house that are used only at its fixed position like the AC in the room. Once the AC is installed in the room then it is stationary, no one gonna move it from its original place. Likewise in the question, it is about the ceiling fan and the fan is also stationary as it stays at a fix position.

6 0
3 years ago
Your boss has asked you to calculate the profitability ratios of Cold Goose Metal Works, Inc. and make comments on its second-ye
Alinara [238K]

Answer:

Gross Margin % 59.2% 53.8%

 compares gross profit to sales revenue  

 

Ne income Margin 32.0% 28.9%

 compares net income to sales revenue  

 

ROA return on assets 10.8% 12.3%

net earnings relative to the company’s total assets.  

 

ROE return on equity 32.5% 23.1%

net income relative to stockholders’ equity,  

Explanation:

Net Sales                                                         3,810,000 3,000,000

Operating costs less depreciation/amortization 1,365,000 1,267,500

Depreciation and amortization                            190,500 120,000

Total Operating Costs                                        1,555,500 1,387,500

Operating Income (or EBIT)                               2,254,500 1,612,500

Less: Interest                                                           225,450 169,313

Earnings before taxes (EBT)                               2,029,050 1,443,187

Less: Taxes (40%)                                                   821,620 577,275

Net Income                                                           1,217,430 865,912

 

assets 11,277,600 7,050,000

Equity 3,750,000 3,750,000

 

Gross Margin % 59.2% 53.8%

 compares gross profit to sales revenue  

 

Ne income Margin 32.0% 28.9%

 compares net income to sales revenue  

 

ROA return on assets 10.8% 12.3%

net earnings relative to the company’s total assets.  

 

ROE return on equity 32.5% 23.1%

net income relative to stockholders’ equity,  

8 0
3 years ago
According to the IS–LM model, if Congress raises taxes but the Fed wants to hold income constant, then the Fed must ______ the m
abruzzese [7]

Answer:

Increase

Explanation:

Population net income consists of the difference between labor income and expenditure. If the government adopts a contractionary fiscal policy, that is, increases taxes, the net income of the population will decrease, since part of the income will be directed to the payment of taxes. For the Fed to compensate for this decline in income, an expansionary monetary policy will have to be adopted, ie the Fed must act to stimulate the population's income. The increase in money supply has the effect of warming the economy in the form of higher demand and higher wages. This is the form of compensation between two different policies, one contractionist and one expansionist.

6 0
3 years ago
Richland’s real GDP per person is $10,000, and Poorland’s real GDP per person is $5,000. However, Richland’s real GDP per person
dangina [55]

Answer:

It will take approximately 36 Years to Poorland to catch up to Richland.

Explanation:

Given data:

The GDP increase in Poorland per year = 1 %

The GDP increase in Richland per year = 3 %

Calculations:

Step 1: For Richland:

The formula for calculating the per year GDP increase for Richland is:

GDP = 10,000 + (10,000 x (1/100)) ---- (1)

GDP for first Year = 10,100$

GDP for second Year = 10,201 $

Similarly using the formula (1) we calculated the values for 10 and 20 years

GDP for 10th Year = 11046.2$

GDP for 20th Year = 12201.9$

Step 2: For Poorland:

The formula for calculating the per year GDP increase for Poorland is:

GDP = 5,000 + (5,000 x (3/100)) ---- (1)

GDP for first Year = 5,150$

GDP for second Year = 5,304.5 $

Similarly using the formula (1) we calculated the values for 10 and 20 years

GDP for 10th Year = 6719.6$

GDP for 20th Year = 9030.6$

Step 3: When will Poorland catch up to Richland:

By calculating values using the above formulas, we have found that for 38th year, Poorland will catch upto Richland and will have more GDP.

Poorland GDP for 36th Year = 14491.4$

Richland GDP for 36th Year = 14307.7$

6 0
3 years ago
Reece is trying to increase the number of products he sells every week so he will get a promotion this year. What are accurate w
gizmo_the_mogwai [7]

Answer:

intermediate goal

career goal

Explanation:

A goal is a desired result am individual wants to achieve in the future. Goals are usually time bound, that is they are meant to be achieved in a given time frame.

In the given instance Reece is trying to increase the number of products he sells every week so he will get a promotion this year.

With regards to duration goals can be short term, intermediate, or long term.

His goal of increasing weekly sales is an intermediate one.

Career goals are those that are measured by level of achievement on one's job. Reece is looking at getting a promotion in this year.

5 0
3 years ago
Read 2 more answers
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