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max2010maxim [7]
3 years ago
9

Direct materials $10 Direct labor $6 Variable manufacturing overhead $4 Fixed manufacturing overhead per year $220,000 Selling a

nd administrative expenses: Variable selling and administrative expense per unit sold $6 Fixed selling and administrative expense per year $61,000 Year 1 Year 2 Units in beginning inventory 0 1,000 Units produced during the year 11,000 10,000 Units sold during the year 10,000 7,000 Units in ending inventory 1,000 4,000 The net operating income (loss) under variable costing in Year 1 is closest to:
Business
1 answer:
pochemuha3 years ago
3 0

Answer:

Results are below.

Explanation:

I will assume a selling price per unit of $60.

<u>First, we need to calculate the total unitary variable cost:</u>

Total unitary variable cost= direct material + direct labor + varaiboe overhead + variable selling and administrative expense

Total unitary variable cost= 10 + 6 + 4 + 6

Total unitary variable cost= $26

<u>Now, we can structure the income statement:</u>

<u></u>

Sales= 10,000*60= 600,000

Total variable cost= 10,000*26= ( 260,000)

Contribution margin= 340,000

Fixed manufacturing overhead per year= (220,000)

Fixed selling and administrative expense per year= (61,000)

Net operating income= 59,000

You might be interested in
Helen, who is single, is considering purchasing a residence that will provide an $18,000 tax deduction for property taxes and mo
GenaCL600 [577]

Answer:

amount of tax saving is $4320

Explanation:

given data

tax deduction = $18000

marginal tax rate = 24%

effective tax rate = 20%

to find out

amount of tax saving

solution

we know tax saving formula that is

tax saving = tax deduction × marginal tax  ........................1

so now put here all value in equation 1

tax saving = tax deduction × marginal tax

tax saving = 18000 × 24%

tax saving = 18000 × 0.24

tax saving = 4320

so amount of tax saving is $4320

4 0
3 years ago
Select the correct answer from the drop-down menu.
irina [24]

One can display good customer service by having a professional appearance while attending to customers.

<h3>What is customer service?</h3>

Customer service is a process of ensuring that customers are well catered for when delivering services to them.

Characteristics of a good customer service are:

  • Promptness
  • Politeness
  • Professionalism

Hence, one can display good customer service by having a professional appearance while attending to customers.

Learn more about customer service here : brainly.com/question/1286522

#SPJ1

8 0
2 years ago
Whats considered a fixed assest
Igoryamba

Answer:

see below

Explanation:

Fixed assets are valuable items that cannot be converted into cash quickly. They are assets not meant for sale or consumption up in the current financial year.

Fixed assets are tangible or physical assets used by businesses in the productions or provision of services. They provide long term financial benefits to a business. Fixed assets have a useful life of more than one year. Land, buildings, motor vehicles, plant, and equipment are examples of fixed assets.

3 0
3 years ago
At the beginning of Year 1, a company reported a balance in common stock of $166,000 and a balance in retained earnings of $66,0
Vinil7 [7]

Answer:

Explanation:

1.

Shareholders equity = Common stock + Retained earnings

Beg. balance = Common stock+Retained earnings = 166,000 + 66,000 = 232,000

Statement of shareholder's equity

Beg balance 232,000

Issuance of common stock  56,000

Add: Net Income 46,000

Less: Dividends 11,600

End balance 322,400

Balance sheet

There is not information for preparation of balance sheet but following is the layout:

Assets:

Cash

Supplies

Prepaid rent

Land

Liabilities:

Accounts payable

Salaries

Utilities

Notes payable

Stockholder's equity:

Common stock 222,000 [166,000+56,000]

Retained earnings 112,000 [66,000+46,000]

Total 334,000

6 0
3 years ago
0.5 points eBookPrintReferences Check my work Check My Work button is now enabledItem 3Item 3 0.5 points Agee Storage issued 37
trapecia [35]

Answer:

Decline in Agee's total paid up capital is $14,000,000

Explanation:

<u>Computation of decline in Paid-Up capital</u>

Particulars                                        Amount

Cash paid for first repurchase      $10,000,000

(1 million shares*$10)

Value of first purchase                   $12,000,000

(1 million * $12                                 <u>                        </u>

Benefit on first repurchase            $2,000,000

Cash paid for second repurchase = $16,000,000

(1 million shares * $16)

Value of second repurchase            $12,000,000

(1 million * $12)                                    <u>                        </u>

Reduction in Total paid-in-capital   <u>$14,000,000</u> ($2 million + $12 million)

8 0
3 years ago
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