Business, 08.03.2021 07:00 noobieplayerxd

Valcarcel Corporation manufactures and sells one product. The following information pertains to the company’s first year of operations: Variable cost per unit:
Direct materials $ 67
Fixed costs per year:
Direct labor $ 886,500
Fixed manufacturing overhead $ 2,068,500
Fixed selling and administrative expenses $ 1,254,000

The company does not have any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, the company produced 59,100 units and sold 57,000 units. The company’s only product is sold for $152 per unit.

Required:

a-1. Assume the company uses super-variable costing. Compute the unit product cost for the year.

a-2. Prepare an income statement for the year.

b-1. Assume that the company uses a variable costing system that assigns $15 of direct labor cost to each unit that is produced. Compute the unit product cost for the year.

b-2. Prepare an income statement for the year.

c. Prepare a reconciliation that explains the difference between the super-variable costing and variable costing net incomes.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 06:00

Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)

Answers: 1

Answer

Business, 22.06.2019 09:50

Why should managers invest any excess cash

Answers: 1

Answer

Business, 23.06.2019 00:30

Environmentalists are concerned about emissions of sulfur dioxide into the air. the average number of days per year in which sulfur dioxide levels exceed 150 milligrams per cubic meter in milan, italy, is 29. the number of days per year in which emission limits are exceeded is normally distributed with a standard deviation of 4.0 days. what percentage of the years would exceed 37 days?

Answers: 2

Answer

Business, 23.06.2019 09:30

Clara client has just been presented with a standard representation agreement by the law firm of yatz & berger. clara's first language is german. although she speaks and reads everyday english quite well, the legal terms in the contract confuse her. yatz & berger should question 90 options: have someone in the firm, if possible, or a translator from outside of the firm, explain the terms of the contract thoroughly until clara has a full and complete understanding of its terms. advise clara to take the contract home and study it before signing it. have a paralegal explain the most important clauses in the contract to clara in smaller, plain english words. advise clara to sign the contract and take her copy home for study.

Answers: 3

Answer

You know the right answer?

Valcarcel Corporation manufactures and sells one product. The following information pertains to the...

Questions