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kakasveta [241]
2 years ago
5

Knowledge Check 01The difference between absorption costing net operating income and variable costing net operating income can b

e explained by the way these two methods account for ________.multiple choice 1all overhead costsfixed overhead costsselling and administrative expensesvariable overhead costsKnowledge Check 02Absorption costing income statements ignore ________.multiple choice 2direct materials and direct labor costsdirect and indirect cost distinctionsproduct and period cost distinctionsvariable and fixed cost distinctionsKnowledge Check 03When the number of units produced is greater than the number of units sold, variable costing net operating income will be ________.multiple choice 3the same as absorption costing net operating incomegreater than absorption costing net operating incomeless than absorption costing net operating income
Business
1 answer:
nexus9112 [7]2 years ago
5 0

Answer:

The Differences between Absorption Costing and Variable Costing

1. variable overhead costs

2. variable and fixed cost distinctions

3. greater than absorption costing net operating income

Explanation:

Absorption costing does not separate costs according to their variable and fixed elements but includes all product or directs costs in the cost of goods.  Variable costing, on the other hand, makes the distinctions and only accounts for variable costs in the product costs and not all the direct costs.

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operation, 2,300 units were produced and 1,800 units were sold. Actual fixed costs are the same as the amount budgeted for the m
kykrilka [37]

Answer:

$124,200

Explanation:

Contribution margin is net of sales value and variable cost. This value is available to cover the fixed cost of the business and profit after adjusting fixed cost.

As per given data

Price = $98

Numbers of units sold = 1,800

Total Sales = $98 x 1,800 = $176,400

Variable cost = $23 x 1,800 units = $41,400

Variable marketing cost = $6 x 1,800 = $10,800

Total Variable cost = $41,400 + $10,800 = $52,200

Contribution Margin = Total Sales - Total Variable cost

Contribution Margin = $176,400 - $52,200

Contribution Margin = $124,200

5 0
3 years ago
Read 2 more answers
Suppose the annual rate of inflation has been 3 percent during each of the last three years and that borrowers and lenders have
tatyana61 [14]

Answer:

a.borrowers gain at the expense of lenders.

Explanation:

Suppose the annual rate of inflation has been 3 percent during each of the last three years and that borrowers and lenders have come to expect this rate of inflation. If the inflation rate unexpectedly rises, then borrowers gain at the expense of lenders.

As inflation increases, two things happen

1. The amount of interest paid to lenders technically becomes of smaller value and lenders are loosing while borrowers are paying lesser

2. As inflation sets in, wages are increased to compensate for inflation and since the borrower already owed money before the inflation occurred, now he or she has more money in his or her paycheck to pay off the debt.

8 0
3 years ago
You are a dual income, no kids family. You and your spouse have the following debts (total): mortgage, $290,000; auto loan, $15,
aleksley [76]

Answer:

Total Insurance need          $166,500

Explanation:

Life insurance [DINK method]

Amount mortgage loan (half)  $145,000  

Auto loan(half)                   $7,500  

Credit card balance(half)  $2,000  

Other debts(half)               $4,000  

Funeral cost                          $8,000  

Total Insurance need          $166,500

7 0
2 years ago
Coral Music manufactures harmonicas. Coral uses standard costs to judge performance.​ Recently, a clerk mistakenly threw away so
jeka57 [31]

Answer:

Explanation:

std rate  $9.00

actual rate  $8.50

standard hours 5,200

Total variance: 390 Favorable

Rate variance:

(standard\:rate-actual\:rate) \times actual \: hours = DL \: rate \: variance

Efficiency

(standard\:hours-actual\:hours) \times standard \: rate = DL \: efficiency \: variance

Total:

rate + efficiency

(standard\:rate-actual\:rate) \times actual \: hours + (standard\:hours-actual\:hours) \times standard \: rate = 390

We plug our know values and solve:

(9 - 8.5) \times actual \: hours + (5,200-actual\:hours) \times 9 = 390

0.5actual hours + 46,800 - 9actual hours = 390

46,800 - 390 = 8.5 actual hours

46,410/8.5 = actual hours = 5,460

now we calculate each variance:

rate: 2,730

(9-8.5) \times 5,460 = DL \: rate \: variance

efficiency (2,340)

(5,200-5,460) \times 9 = DL \: efficiency \: variance

8 0
3 years ago
During the last decade, there was an increase in sales in cds, dvds, pen drives, and portable hard discs, as people sought to re
kipiarov [429]
During the last decade, there was an increase in sales in cds, dvds, pen drives, and portable hard discs, as people sought to replace their obsolete floppy discs. in terms of the technology cycle, this is an example of <span>DISCONTINUOUS CHANGE.</span>
4 0
2 years ago
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