Earl has $977 in his checking account. after he writes a check to the bookstore for $267, how much is remaining in his account?

Winslow Inc. manufactures and sells three types of shoes. The income statements prepared under the absorption costing method for

stellarik [79]

Answer:

Winslow Inc.

a. No. I do not agree with management's decision and conclusions. Eliminating the running shoes line increased the company-wide loss to $112,600 from a profit of $7,900.

b. Variable Costing Income Statements:

1 Cross Training Golf Shoes Running Shoes Total

2 Revenues $850,000 $700,000 $635,000 $2,185,000

3 Variable costs:

Cost of goods sold 284,500 248,400 298,500 831,400

Selling and administrative 293,100 175,500 216,000 684,600

Total 577,600 423,900 514,500 1,516,000

4 Gross profit $272,400 $276,100 $120,500 $669,000

5 Fixed costs:

Cost of goods sold 128,500 90,300 120,500 339,300

Selling & administrative 95,900 82,400 143,500 321,800

Total 224,400 172,700 264,000 661,100

6 Income (Loss) from $48,000 $103,400 $(143,500) $7,900

c. Eliminating the line only eliminated the variable costs of goods sold and selling and administrative expenses. The fixed costs were not changed with the elimination. Therefore, eliminating the running shoes line increased the company-wide loss to $112,600 from a profit of $7,900.

Explanation:

a) Data and Calculations:

Winslow Inc.

Product Income Statements—Absorption Costing

For the Year Ended December 31, 20Y1

1 Cross Training Golf Shoes Running Shoes Total

2 Revenues $850,000 $700,000 $635,000

3 Cost of goods sold 413,000 338,700 419,000

4 Gross profit $437,000 $361,300 $216,000

5 Selling & administrative

expenses 389,000 257,900 359,500

6 Income (Loss) from $48,000 $103,400 $(143,500)

1 Cross Training Golf Shoes Running Shoes Total

2 Revenues $850,000 $700,000 $635,000 $2,185,000

3 Variable costs:

Cost of goods sold 284,500 248,400 298,500 831,400

Selling and administrative 293,100 175,500 216,000 684,600

Total 577,600 423,900 514,500 1,516,000

4 Gross profit $272,400 $276,100 $120,500 $669,000

5 Fixed costs:

Cost of goods sold 128,500 90,300 120,500 339,300

Selling & administrative 95,900 82,400 143,500 321,800

Total 224,400 172,700 264,000 661,100

6 Income (Loss) from $48,000 $103,400 $(143,500) $7,900

Eliminating the running shoe line:

1 Cross Training Golf Shoes Total

2 Revenues $850,000 $700,000 $1,550,000

3 Cost of goods sold:

Variable costs 284,500 248,400 532,900

Fixed costs 128,500 90,300 339,300

Total 413,000 338,700 872,200

4 Gross profit $437,000 $361,300 $677,800

5 Selling & administrative expenses:

Variable costs 293,100 175,500 468,600

Fixed costs 95,900 82,400 321,800

Total 389,000 257,900 790,400

6 Income (Loss) from $48,000 $103,400 ($112,600)

3 0

2 years ago

Select the correct answer.

Naya [18.7K]

C is the correct answer

4 0

3 years ago

Read 2 more answers

Suppose you are an operations manager for a plant that manufactures batteries. Give an example of how you could use descriptive

Tatiana [17]

Please find full question attached

Answer:

Inferential statistics

Descriptive statistics

inferential statistics

descriptive statistics

Descriptive statistics

Inferential statistics

Explanation:

Descriptive statistics describes data and gives us a picture of what the data summary looks like using such things as mean and central tendency measures. Inferential statistics on the other hand aims to make predictions using the data based on data analysis such as collecting sample from population and constructing hypotheses to estimate outcomes for the general population. Example in the question, the first is inferential statistics as we make generalized predictions on batteries using data samples from the population of batteries of a particular type.

7 0

3 years ago

Draw a graph which depicts long run equilibrium of transnet

Nookie1986 [14]

I will not be able to illustrate the graph in the dialog box but instead, the writer will describe the long-run equilibrium of transnet. Long-run equilibrium in economics focuses on the period of time where the resource is still available and what is its costs and quantity produced.

8 0

3 years ago

Which of the following is an advantage of flexible manufacturing technologies? They have reduced the importance of technological

Georgia [21]

Answer:

They have increased the importance of production economies of scale.

Explanation:

Flexible production allows the manufacture of different types of products in the same industrial production line. This makes companies lower costs by avoiding tool change, time savings, and industry structure.

This type of economy fits into the description of economies of scale. Economies of scale are those where the increase in production results in a decrease in the average cost of the product. Increasing production - by including more products on the production line - without a proportional increase in the factory's installed capacity leads to a reduction in the average cost of production, ie it is an economy of scale.

4 0

3 years ago