Answer:
Income reported under absorption costing =$440,000
Explanation:
<em>The income reported under absorption costing can be determined by adjusting the income under variable costing for difference in profit.</em>
<em>The steps are outlined below:</em>
<em>Step 1</em>
<em>Calculate the Overhead absorption rate</em>
OAR = Budgeted Fixed overhead/ Budgeted number of units
= $270,000/ 27,000 units
= $10
<em>Step 2</em>
<em>Calculate the change in inventory </em>
8500 units (given)
<em>Step 3</em>
<em>Calculate the difference in profit </em>=
<em> Difference in profit = OAR × change in inventory</em>
=8500×$10
= $85000
<em>Step 4</em>
<em>Calculate Income under absorption costing</em>
<em> = Income under variable costing + Difference in profit</em>
=$85,000 + $355,000
=$440,000
Income reported under absorption costing =$440,000
Answer: Description, Date, and Amount.
Answer:
Who is Hired and Fired
Explanation:
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Answer:
Refer him/her to a rehab center
Explanation:
This insures that the person will receive the help required to make it possible for them to do their job and life their life properly.
Answer:
$56,000
Explanation:
Data:
Cost of good sold (single) = $50,000
Weighted average rate of the year = $1.12
Cost of good sold consolidated = ???????
Solution:
In order to find the translated amount of cost of goods sold that should appear in the consolidated income statement, we will multiply the cost of goods sold given for Canadian subsidiary with the weighted average rate of the year.
Calculation:
Cost of good sold (consolidated) = $50,000 x $1.12
Cost of good sold (consolidated) = $56,000