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Fittoniya [83]
3 years ago
8

Danahy Corporation manufactures a single product. The following data pertain to the company's operations over the last two years

: $ 52,000 $ 68,000 Variable costing net operating income, last year Variable costing net operating income, this year Fixed manufacturing overhead costs released from inventory under absorption costing, last year Fixed manufacturing overhead costs deferred in inventory under absorption costing, this year $ 4,000 $ 6,000 What was the absorption costing net operating income last year?
a) $50,000
b) $56,000
c) $52,000
d) $48.000
Business
1 answer:
horsena [70]3 years ago
6 0

Answer:

d)$48,000

Explanation:

Calculation for What was the absorption costing net operating income last year

Using this formula

Absorption costing net income last year= Variable costing net operating income – Fixed manufacturing overhead released

Let plug in the formula

Absorption costing net income last year= $52,000 – $4,000

Absorption costing net income last year= =$48,000

Therefore the absorption costing net operating income last year will be $48,000

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Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $420,000; Allowance for Doub
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Answer and Explanation:

The computation is shown below:

a. Amount of adjusting entry for uncollectible accounts

= Estimated balance of Allowance for Doubtful Accounts + debit balance

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b. Adjusted balances

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= account receivable

= $420,000

For allowance for doubtful debts

= Estimated amount

= $16,400

For bad debts

= AMount of adjusting entry

= $20,400

c. Net realizable value

= Account receivable balance - estimated balance of Allowance for Doubtful Accounts

= $420,000 - $16,400

= $403,600

8 0
3 years ago
A company purchased $10,300 of merchandise on June 15 with terms of 2/10. n/45, and FOB shipping point. The freight charge, $650
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7 0
3 years ago
Mary Co. paid dividends of $5,000, $6,200, and $8,000 during Year 1, Year 2, and Year 3, respectively. The company had 1,700 sha
Monica [59]

Answer :

Amount of dividend paid =$1,350

Explanation :

The computation is shown below:

As per the data given in the question,

Dividend per year for preferred stock = $1700 × $100 × 3.5%

= $5,950

Particulars                   Year 1          Year 2                  Year 3

Preferred dividend     $5,000         $6,200                $6,650

                                                                                 ($700+$5,950)

Preferred dividend in arrears $950  $700

                                     ($5,950-$5,000)  ($5,950+$950-$6,200)

Therefore dividends for common shareholders is

=  $8,000 - $6,650

= $1,350

4 0
3 years ago
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