Business, 24.06.2020 04:01 caleighpeters
During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 80,000 mini refrigerators, of which 72,000 were sold. Operating data for the month are summarized as follows: 1 Sales $10,800,000.00 2 Manufacturing costs: 3 Direct materials $6,400,000.00 4 Direct labor 1,600,000.00 5 Variable manufacturing cost 1,280,000.00 6 Fixed manufacturing cost 320,000.00 9,600,000.00 7 Selling and administrative expenses: 8 Variable $1,080,000.00 9 Fixed 180,000.00 1,260,000.00Required:
1. Prepare an income statement based on the absorption costing concept.*
2. Prepare an income statement based on the variable costing concept.*
3. Explain the reason for the difference in the amount of income from operations reported in (1) and (2).
Answers: 2
Business, 21.06.2019 16:30
]4. seiler company has the following information: materials work-in-process finished goods beginning inventory 300 400 500 ending inventory 700 900 1500 material purchase 7,700 cost of goods sold 15,600 direct labor 5,500 what was the manufacturing overhead for the period? a. $3,400. b. $4,300. c. $3,000. d. $5,500.
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Business, 22.06.2019 01:30
The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: • sales at $500,000, all for cash. • merchandise inventory on november 30 was $250,000. • the cash balance at december 1 was $20,000. • selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. • budgeted depreciation for december is $30,000. • the planned merchandise inventory on december 31 is $260,000. • the cost of goods sold represents 75% of the selling price. • all purchases are paid for in cash. the budgeted cash disbursements for december are:
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Business, 22.06.2019 08:30
Which of the following is an example of search costs? a.) driving to a faraway place to find available goods b.) buying goods in some special way that is outside the normal channels c.) paying a premium cost for goods d.) selling extra goods for a discount price
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During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 80,00...
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