Business, 23.01.2020 00:31 jpsaad00

Aces inc., a manufacturer of tennis rackets, began operations this year. the company produced 5,500 rackets and sold 4,400. each racket was sold at a price of $85. fixed overhead costs are $68,750 and fixed selling and administrative costs are $64,700. the company also reports the following per unit variable costs for the year:

variable product costs $ 24.50
variable selling and administrative expenses $ 1.50

prepare an income statement under absorption costing.

aces inc.
absorption costing income statement
sales $374,000
less: variable costs
variable production costs
fixed overhead costs
cost of goods sold
gross margin
selling general and administrative expenses
fixed selling and administrative costs
variable selling and administrative expenses
net income (loss)

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 11:30

Florence invested in a factory requiring. federally-mandated reductions in carbon emissions. how will this impact florence as the factory's owner? a. her factory will be worth less once the upgrades are complete. b. her factory will likely be bought by the epa. c. florence will have to invest a large amount of capital to update the factory for little financial gain. d. florence will have to invest a large amount of capital to update the factory for a large financial gain.

Answers: 1

Answer

Business, 22.06.2019 13:30

You operate a small advertising agency. you employ two secretaries, a graphic designer, three sales representatives, and an office coordinator. 1. what types of things would you consider when determining how to compensate each position? describe two (2) considerations. 2. what type of compensation plan would you use for each position?

Answers: 1

Answer

Business, 22.06.2019 15:00

Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget.the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead.a total of 119,300 units, using 478,000 direct labor hours, were produced during the year.actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.

Answers: 3

Answer

Business, 22.06.2019 22:20

David consumes two things: gasoline (q 1) and bread (q 2). david's utility function is u(q 1, q 2)equals70q 1 superscript 0.5 baseline q 2 superscript 0.5. let the price of gasoline be p 1, the price of bread be p 2, and income be y. derive david's demand curve for gasoline. david's demand for gasoline is q 1equals nothing. (properly format your expression using the tools in the palette. hover over tools to see keyboard shortcuts. e.g., a subscript can be created with the _ character.)

Answers: 1

Answer

You know the right answer?

Aces inc., a manufacturer of tennis rackets, began operations this year. the company produced 5,500...

Questions