Business, 04.04.2020 08:48 thanks5640
Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations:
Variable costs per unit:
Manufacturing:
Direct materials $6
Direct labor $9
Variable manufacturing overhead $3
Variable selling and administrative .$4
Fixed costs per year:
Fixed manufacturing overhead $300,000
Fixed selling and administrative $190,000
During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is $50 per unit.
Required:
1. Assume that the company uses the absorption costing method:
a. Compute the unit product cost.
b. Prepare an income statement for the year.
2. Assume that the company uses the variable costing method:
a. Compute the unit product cost.
b. Prepare an income statement for the year.
Answers: 2
Business, 22.06.2019 18:00
*will mark brainliest! * when a company spends resources (labor, money) to give customers "free" items, those costs are called a. investment costs b. economic costs c. scarcity costs d. opportunity costs answer asap!
Answers: 1
Business, 23.06.2019 01:00
Bob, an employee at machina corp., is well known among his colleagues because of his temper and impatience. during a heated argument with one of his supervisors, he reacts with hostility. bob's manager calls him in for a discussion and listens to what he has to say about the incident, while treating him with dignity and respect. this scenario can be best categorized as one that used
Answers: 3
Business, 23.06.2019 02:40
If a country is looking to increase economic growth quickly, it should: choose the correct answer from the following choices, and then select the submit answer button. answer choices focus on natural resources and develop physical capital. make investments from domestic savings and adopt new technology. increase spending on human capital and start a new political approach. develop new technologies funded by the public sector.
Answers: 1
Business, 23.06.2019 09:30
If gerry is approved for a $150,000 mortgage at 3.75 percent interest for a 30-day loan, what would the monthly payment be?
Answers: 1
Lynch Company manufactures and sells a single product. The following costs were incurred during the...
World Languages, 16.07.2019 05:00
Physics, 16.07.2019 05:00
Chemistry, 16.07.2019 05:00
Computers and Technology, 16.07.2019 05:00
History, 16.07.2019 05:00
History, 16.07.2019 05:00
Physics, 16.07.2019 05:00
History, 16.07.2019 05:00
World Languages, 16.07.2019 05:00
Computers and Technology, 16.07.2019 05:00
Mathematics, 16.07.2019 05:00