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guajiro [1.7K]
3 years ago
10

Chuck Wagon Grills, Inc., makes a single productâa handmade specialty barbecue grill that it sells for $210. Data for last yearâ

s operations follow:
Units in beginning inventory 0
Units produced 20,000
Units sold 19,000
Units in ending inventory 1,000
Variable costs per unit:
Direct materials $ 50
Direct labor 80
Variable manufacturing overhead 20
Variable selling and administrative 10
Total variable cost per unit $ 160
Fixed costs:
Fixed manufacturing overhead $ 700,000
Fixed selling and administrative 285,000
Total fixed costs $ 985,000
Required:
1. Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.
2. Assume that the company uses absorption costing. Prepare an income statement.
Business
1 answer:
anastassius [24]3 years ago
4 0

Answer:

no ❤️️

Explanation:

No❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️  

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Hickory point amusement park sells admission tickets for $50 per person for one visit. variable costs are $15 per visitor and fi
Kay [80]
First, calculate for the total operating cost of the park through the equation,

   TC = TV + TF

where TC is the total cost,
     TV is the total variable cost which is equal to the product of the variable cost per visitor and number of visitor, and
     TF is the total fixed cost. 

Substituting the known values,
    TC = ($15)(1,750,000) + $60,000,000 = $86,250,000

Then, the total revenue is the product of the cost of ticket and the number of visitors.
     TR = ($50/visitor)(1,750,000 visitors) = $87,500,000

Subtracting the two values will give us an answer of $1,250,000.

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3 years ago
Turner Company owns 10% of the outstanding stock of ICA Company. During the current year, ICA paid a $5 million cash dividend on
lozanna [386]

Answer:

Turnover Company

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Explanation:

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Ede4ka [16]

Answer:

The accounting entry for each transaction is given below.

Gibson contributed $10,000 to the business in exchange for capital.

Debit Cash Asset       $10,000

Credit Capital              $10,000

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Debit equipment Asset      $5,000

Credit Payable Liability       $5,000

c. Paid $400 for office supplies.

Debit payable         $400

Credit Cash Asset   $400

d. Earned and received $2,500 cash for service revenue.

Debit Cash Asset    $2,500

Credit Income          $2,500

e. Paid $400 for wages to employees.

Debit Wages expense   $400

Credit Cash Asset          $400

f. Gibson withdrew $1,000 cash

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Credit Cash Asset  $1,000

.g. Earned $1,000 for services provided. Customer has not yet paid.

Debit Receivable           $1,000

Credit Service Income   $1,000

h. Paid $1,000 for rent.

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Step2247 [10]

Answer: False

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Classification shifting is a method used whereby the core earnings are manipulated by misclassifying the items in the income statement.

One way that managers make use of classification shifting is by reporting the operating expenses for the business as nonoperating expenses. This is usually done in order to inflate the operating income.

The statement in the question is false as classification shifting by managers doesn't lead to under-reporting of total expenses and over-statement of bottom-line net income rather it lead to over reporting.

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Gavin's position at Pharma-Tech involves purchasing complex manufacturing components, making decisions based on technical data,
Diano4ka-milaya [45]

Answer:

yo no hablo takataka

Explanation:

taktaltakatakatalatal

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