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laiz [17]
2 years ago
6

The Quaint Quilt produces and sells handmade quilts. Variable manufacturing costs total $140 per quilt. Fixed manufacturing over

head totals $68,250 per quarter. Variable selling and administrative costs are $19 per quilt sold, and fixed selling and administrative costs are $50,000 per quarter. Last quarter, the company produced 910 quilts and sold 780 quilts. The total variable cost reported on Quaint Quilt's variable costing income statement is
Business
1 answer:
alexgriva [62]2 years ago
4 0

The total variable cost reported on Quaint Quilt's variable costing income statement is: $124,020

Calculation to determine the total variable costing income statement

Using this formula

Variable costing income statement=(Variable manufacturing costs+Variable selling and administrative costs )×Sales

Let plug in the formula

Variable costing income statement($140 + $19) x 780 quilts sold

Variable costing income statement=$159×780 quilts sold

Variable costing income statement=$124,020

Inconclusion The total variable cost reported on Quaint Quilt's variable costing income statement is: $124,020.

Learn more here:

brainly.com/question/13214374

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b. No Effect on Taxable Income.

Had there been a business discussion, Joe would have been able to claim a 50% deduction in Tax. However since there was none, there is no effect on Tax.

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Even Joe believes that $2,750 of income might not be collected, he cannot deduct this from taxes until it actually happens therefore his increase in income is $12,750.

e. $2,250 reduction in taxable income

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f. $1,600 reduction in Taxable income.

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Answer:

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