Business, 22.07.2021 17:50 willcohen42

Russell Inc. had sales of $2,210,000for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses. Variable Fixed
Cost of goods sold $921,000 $441,000
Selling expenses 71,000 46,000
Administrative expenses 87,000 99,000
Prepare a CVP income statement for the quarter ended March 31, 2017.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 19:30

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above

Answers: 2

Answer

Business, 22.06.2019 20:00

Beranek corp has $720,000 of assets, and it uses no debt--it is financed only with common equity. the new cfo wants to employ enough debt to raise the debt/assets ratio to 40%, using the proceeds from borrowing to buy back common stock at its book value. how much must the firm borrow to achieve the target debt ratio? a. $273,600b. $288,000c. $302,400d. $317,520e. $333,396

Answers: 3

Answer

Business, 22.06.2019 21:10

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?

Answers: 3

Answer

Business, 22.06.2019 22:00

Exercise 2-12 cost behavior; high-low method [lo2-3, lo2-4] speedy parcel service operates a fleet of delivery trucks in a large metropolitan area. a careful study by the company’s cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents per mile. if a truck is driven only 80,000 miles during a year, the average operating cost increases to 13.6 cents per mile. required: 1.& 2. using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (round the "variable cost per mile" to 3 decimal places.)

Answers: 3

Answer

You know the right answer?

Russell Inc. had sales of $2,210,000for the first quarter of 2017. In making the sales, the company...

Questions