Diaz Company reports the following variable costing income statement for its single product. This company’s sales totaled 50,000 units, but its production was 80,000 units. It had no beginning finished goods inventory for the current period. DIAZ COMPANY Income Statement (Variable Costing) Sales (50,000 units × $60 per unit) $ 3,000,000 Variable expenses Variable manufacturing expense (50,000 units × $28 per unit) 1,400,000 Variable selling and admin. expense (50,000 units × $5 per unit) 250,000 Total variable expenses 1,650,000 Contribution margin 1,350,000 Fixed expenses Fixed overhead 320,000 Fixed selling and administrative expense 160,000 Total fixed expenses 480,000 Net income $ 870,000 1. Convert Diaz's variable costing income statement to an absorption costing income statement.

Although gdp is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating gdp for the united states? check all that apply. the value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government the variety of goods available to consumers funds spent by city governments to renovate their buildings the costs of air and water pollution when a u.s. company purchases and imports electronic parts from china to use to produce mp3 players within the united states, this purchase increases the component of gdp while also net exports by the same amount. therefore, the purchase of electronic parts from china causes in us gdp.