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2 years ago

Can someone please help me answer these questions?

Business

1 answer:

steposvetlana [31]2 years ago

6 0

Answer:

I think these are personal questions which means there is no right answer

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Exercise 06-5 Absorption costing and variable costing income statements LO P2 Rey Company’s single product sells at a price of $

Andru [333]

Answer:

1. Income statement for the year

using Absorption Costing

Selling price ( 20,000 x $216 ) $4,320,000

Direct materials ( 20,000 x $20 ) $400,000

Direct labor ( 20,000 x $28 ) $560,000

Variable overhead ( 20,000 x $6 ) $120,000

Fixed overhead $160,000

Total Production Cost ($1,240,000)

Gross Profit $3,080,000

Selling and Admin Expenses

Variable Cost ( 20,000 x $18) $360,000

Fixed Cost $200,000

Total Period Cost ($560,000)

Operating Income $2,520,000

2. Income statement for the year

using Variable Costing

Selling price ( 20,000 x $216 ) $4,320,000

Direct materials ( 20,000 x $20 ) $400,000

Direct labor ( 20,000 x $28 ) $560,000

Variable overhead ( 20,000 x $6 ) $120,000

Variable Cost S&A ( 20,000 x $18) $360,000

Variable Production Cost ($1,440,000)

Contribution Margin $2,880,000

Fixed Cost

Production overhead cost $160,000

Fixed Cost S&A $200,000

($360,000)

Operating Income $2,520,000

Explanation:

Variable and absorption costing income statement have difference of treatment of Variable and Fixed costs as production cost and period cost.

Variable costing consider all variable costs as production cost and Absorption costing consider all the cost incurred in production either variable or fixed as production cost.

3 0

3 years ago

Which statement is true of an adjustable rate mortgage?

DerKrebs [107]

The answer is B. Adjustable rate mortgage is a mortgage loan where the interest rate stays for for a certain period of time then it changes either up or down based on an index. It is also called variable-rate mortgage or tracker mortgage. This type of mortgage loan permits a debtor to have a lower initial payment if and only if they agree to assume the risk of the changes in the interest rate.

3 0

3 years ago

Where in the CAFR would one find the long-term liability for revenue bonds (paid from the revenues of an enterprise fund)?

Fed [463]

Answer:

C. The government-wide Statement of Net Position and the proprietary funds Statement of Net Position

Explanation:

CAFR ( Comprehensive Annual Financial reporting ) is provides accurate, summarised, and meaningful information. There are three sections of this reporting as below.

Introduction
Financial
Statistical

In government-wide statement, The capital is reported on the net basis on financial statements.

6 0

3 years ago

A company has the following selected account balances: Sales $ 250,000 Sales Discounts 1,500 Sales Returns and Allowances 2,300

Ulleksa [173]

Answer:

$121,200

Explanation:

Calculation to determine the gross profit that would appear on a multiple-step income statement

First step is to determine the Net sales

Sales $ 250,000

Less Sales Discounts ($1,500)

Less Sales Returns and Allowances ($2,300 )

Net sales $246,200

Now let determine the Gross profit using this formula

Gross profit=Net sales-Cost of Goods Sold

Let plug in the formula

Gross profit=$246,200-$125,000

Gross profit=$121,200

Therefore the gross profit that would appear on a multiple-step income statement is $121,200

8 0

3 years ago

The management of Madeira Computing is considering the introduction of a wearable electronic device with the functionality of a

krek1111 [17]

600 because 30000/250

5 0

3 years ago