Homework Answers
Income statement :
| Sales (950*8) | 7600 | |
| Less: Cost of goods sold | ||
| Variable manufacturing cost (950*4) | 3800 | |
| Fixed manufacturing overhead (690/1150*950) | 570 | |
| Total Cost of goods sold | 4370 | |
| Gross profit | 3230 | |
| Less: Variable selling and administrative expense | 950 | |
| Less: Fixed selling and administrative expense | 700 | |
| Total Selling and administrative expense | 1650 | |
| Net operating income | 1580 |
Add Answer to:
Gia's Foods produces frozen meals that it sells for $8 each. The company computes a new...
Maria's Foods produces frozen meals that it sells for $14 each. The company computes a new...
Maria's Foods produces frozen meals that it sells for $14 each. The company computes a new monthly fixed manufacturing overhead allocation rate based on the planned number of meals to be produced that month. Assume all costs and production levels are exactly as planned. The following data are from Maria's Foods's first month in business: Units produced and sold for January 2018: Sales=800meals Production=1100 meals Variable manufacturing cost per meal =$6 Sales commission cost per meal=$2 Total fixed manufacturing overhead=$385...
Maria's Foods produces frozen meals that it sells for $12 each. The company computes a new...
Maria's Foods produces frozen meals that it sells for $12 each. The company computes a new monthly fixed manufacturing overhead allocation rate based on the planned number of meals to be produced that month. Assume all costs and production levels are exactly as planned. The following data are from Maria's Foods's first month in business: Units produced and sold for January 2018: Sales=1000meals Production=1400 meals Variable manufacturing cost per meal =$5 Sales commission cost per meal=$2 Total fixed manufacturing overhead=$700...
Maria's Foods produces frozen meals that it sells for $14 each. The company computes a new...
Maria's Foods produces frozen meals that it sells for $14 each. The company computes a new monthly fixed manufacturing overhead allocation rate based on the planned number of meals to be produced that month. Assume all costs and production levels are exactly as planned. The following data are from Maria's Foods's first month in business: Units produced and sold for January 2018: Sales=800meals Production=1100 meals Variable manufacturing cost per meal =$6 Sales commission cost per meal=$2 Total fixed manufacturing overhead=$385...
Clarita's Foods produces frozen meals that it sells for $9 each. The company computes a new...
Clarita's Foods produces frozen meals that it sells for $9 each. The company computes a new monthly fixed manufacturing overhead allocation rate based on the planned number of meals to be produced that month. Assume all costs and production levels are exactly as planned. The following data are from Clarita's Foods's first month in business: January 2018 Units produced and sold: Sales 1,000 meals 1,200 meals Production Variable manufacturing cost per meal Sales commission cost per meal Total fixed manufacturing...
Rosetla's Foods produces frozen meals that it sells for S8 each. The company computes a new...
Rosetla's Foods produces frozen meals that it sells for S8 each. The company computes a new monthly fixed manufacturing overhead allocation rate based production levels are exactly as planned. The following data are from Rosetta's Foods's first month in business: the planned number of meals to be produced that month. Assurme all costs and (Click the icon to view the data.) Read the requirements. Requirement 1. Compute the product cost per meal produced under absorption costing and under variable costing....
Mario's Foods produces frozen meals, which it sells for $8 each. The company uses the FIFO...
Mario's Foods produces frozen meals, which it sells for $8 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from the company's first two months in business (Click the icon to view the data.) Requirements 1. Compute the product cost per meal produced under absorption costing and...
Louie's Meals produces frozen meals, which it sells for $8 each. The company uses the FIFO...
Louie's Meals produces frozen meals, which it sells for $8
each. The company uses the FIFO inventory costing method, and it
computes a new monthly fixed manufacturing overhead rate based on
the actual number of meals produced that month. All costs and
production levels are exactly as planned. The following data are
from the company's first two months in business:
(Click the icon to view the data.)
Data Table
January
February
Sales. . . . . . . . ....
Show Your Works How You DO It: Fill out 3 white blanks Larry's Foods produces frozen...
Show Your Works How You DO It: Fill out 3 white blanks Larry's Foods produces frozen meals, which it sells for $7 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from the company's first two months in business: Requirement 2a. Prepare separate monthly income statements for...
Ned's Entrees produces frozen meals, which it sells for $ 10 each. The company uses the...
Ned's Entrees produces frozen meals, which it sells for $ 10 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from the company's first two months in business: LOADING...(Click the icon to view the data.) Requirements 1. Compute the product cost per meal produced under absorption costing...
Requirements 1. Compute the product cost per meal produced under absorption costing and under variable costing....
Requirements 1. Compute the product cost per meal produced under absorption costing and under variable costing. 2. Prepare income statements for January 2018 using: a. absorption costing. b. variable costing. 3. Is operating income higher under absorption costing or variable costing in January? Print Done 0 Data Table January 2018 Units produced and sold: Sales 1,000 meals Production 1,400 meals Variable manufacturing cost per meal Sales commission cost per meal Total fixed manufacturing overhead Total fixed selling and administrative costs...
Maria's Foods produces frozen meals that it sells for $14 each. The company computes a new monthly fixed manufacturing overhead allocation rate based on the planned number of meals to be produced that month. Assume all costs and production levels are exactly as planned. The following data are from Maria's Foods's first month in business: Units produced and sold for January 2018: Sales=800meals Production=1100 meals Variable manufacturing cost per meal =$6 Sales commission cost per meal=$2 Total fixed manufacturing overhead=$385...
Clarita's Foods produces frozen meals that it sells for $9 each. The company computes a new monthly fixed manufacturing overhead allocation rate based on the planned number of meals to be produced that month. Assume all costs and production levels are exactly as planned. The following data are from Clarita's Foods's first month in business: January 2018 Units produced and sold: Sales 1,000 meals 1,200 meals Production Variable manufacturing cost per meal Sales commission cost per meal Total fixed manufacturing...
Rosetla's Foods produces frozen meals that it sells for S8 each. The company computes a new monthly fixed manufacturing overhead allocation rate based production levels are exactly as planned. The following data are from Rosetta's Foods's first month in business: the planned number of meals to be produced that month. Assurme all costs and (Click the icon to view the data.) Read the requirements. Requirement 1. Compute the product cost per meal produced under absorption costing and under variable costing....
Mario's Foods produces frozen meals, which it sells for $8 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from the company's first two months in business (Click the icon to view the data.) Requirements 1. Compute the product cost per meal produced under absorption costing and...
Louie's Meals produces frozen meals, which it sells for $8
each. The company uses the FIFO inventory costing method, and it
computes a new monthly fixed manufacturing overhead rate based on
the actual number of meals produced that month. All costs and
production levels are exactly as planned. The following data are
from the company's first two months in business:
(Click the icon to view the data.)
Data Table
January
February
Sales. . . . . . . . ....
Show Your Works How You DO It: Fill out 3 white blanks Larry's Foods produces frozen meals, which it sells for $7 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from the company's first two months in business: Requirement 2a. Prepare separate monthly income statements for...
Requirements 1. Compute the product cost per meal produced under absorption costing and under variable costing. 2. Prepare income statements for January 2018 using: a. absorption costing. b. variable costing. 3. Is operating income higher under absorption costing or variable costing in January? Print Done 0 Data Table January 2018 Units produced and sold: Sales 1,000 meals Production 1,400 meals Variable manufacturing cost per meal Sales commission cost per meal Total fixed manufacturing overhead Total fixed selling and administrative costs...
Most questions answered within 3 hours.
-
How would you train your employees to avoid risks of using
mobile devices?
asked 14 minutes ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 1 hour ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 2 hours ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 2 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 4 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 4 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 5 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 6 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 6 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 6 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 6 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 7 hours ago