Please answer. In the middle of a test!

During the first year of operations, 18,000 units were manufactured and 13,500 units were sold. On August 31, Olympic Inc. prepa

kvasek [131]

Answer:

a. The unit cost of goods manufactured based on the variable costing concept.

=Total variable cost of goods manufactured / Total units Manufactured

= (288,000) /18,000= $ 16

b. The unit cost of goods manufactured based on the absorption costing concept.

=Variable cost of goods manufactured +Fixed manufacturing costs / Total units Manufactured=$288,000+ $12,000/18,000= $ 16.67

Explanation:

a. The unit cost of goods manufactured based on the variable costing concept.

=Total variable cost of goods manufactured / Total units Manufactured

= (288,000) /18,000= $ 16

b. The unit cost of goods manufactured based on the absorption costing concept.

=Variable cost of goods manufactured +Fixed manufacturing costs / Total units Manufactured=$288,000+ $12,000/18,000= $ 16.67

Working

Olympic Inc.

Variable Costing Income Statement

For Year Ended August 31

Sales $297,000

Variable cost of goods sold:

Variable cost of goods manufactured $288,000

Ending inventory (72,000)

Total variable cost of goods sold (216,000)

Manufacturing margin $81,000

Variable selling and administrative expenses (40,500)

Contribution margin $40,500

Fixed costs:

Fixed manufacturing costs $12,000

Fixed selling and administrative expenses 10,800

Total fixed costs (22,800)

Operating income $17,700

4 0

2 years ago

PLZZZ HELP, i have limited time and i will give brainliest.

Schach [20]

Answer:

Q1. Selena will have earned $ 25.00 in interest by the end of the year.

Since interest paid is 5% in simple interest, we can calculate that by using the formula:

$SI = (P)(r)(t)$

$SI = (500)(0.05)(1) = 25$

Q2. The balance in Suki's account at the end of two years will be $866.2854.

This means that she will have earned $66.2854 in interest.

Since interest is compounded quarterly, Suki will receive interest for 8 periods. The formula for compound interest with more than one interest period per year is:

$\mathbf{A = (P)*(1+(\frac{i}{m})^{n*m}}$

where

A is the amount at the end of the period

P is the principal

i is interest rate per annum

m is number of compounding periods in a year

n is number of years

Substituting the values in the formula above we get,

$A = (800)*(1+(\frac{0.04}{4})^{2*4}$

$A = (800)*(1.01)^{8}$

$\mathbf{A = 866.2853645}$

Now, we calculate the interest earned by doing \mathbf{CI = A -P}.

$\mathbf{CI = 866.2854- 800 = 66.2854}$

Q3. It will take 18 years for the money to double to $100.

Since we need to use the rule of 72, we'll divide 72 by the interest rate to determine the number of years needed to double the investment's value.

So, the number of years is $\frac{72}{4} =18$ .

5 0

2 years ago

How can investors receive compounding returns? A: by selecting a savings account that has a higher interest rate B: by investing

ollegr [7]

I would choose A. But that's a recommended answer from my teacher

6 0

3 years ago

A positive result from the scientific management approach is an increase in _______ productivity.

nirvana33 [79]

A. Social thats the answer

6 0

2 years ago

Read 2 more answers

You purchased 100 shares of IBM common stock on margin at $130 per share. Assume the initial margin is 50%, and the maintenance

N76 [4]

Answer:

$46.43

Explanation:

Calculation for Below what stock price level would you get a margin call

First step is to calculate the Loan amount

Loan amount=(100 shares × $130 × 0.5

Loan amount= $6,500 × 0.5 = $3,250

Now let calculate Stock price level

0.30 = (100P $3,250)/100P

30 - P = 100P - $3,250

30-100P= - $3,250

-70P = -$3,250

P=$3,250/70

P = $46.43

Therefore Below what stock price level would you get a margin call will be $46.43

7 0

2 years ago