ZuoTi.Pro
Question

CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 4 Incomplete answer Marked out of 33.00 Variable and Absorption Costing P Fa. Prepare an income statement based on full absorption costing. Only use a negative sign with your answer for net income (loNet Income (Loss) b. Prepare an income statement based on variable costing. Only use a negative sign with your answer for netLess: Ending Inventory Variable cost of goods sold Fixed costs: Operating expenses Total Fixed Cost Net Income (Loss)

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

i)Prrect material = 노200,000 21000D 16 의 52 able aing pense 5-3ろー、 2400 0o0ootin Saler le.co, ) ost Wax 2400x 12 2+000100 111600 0o xpenseb L,230,000 variable opera ing Eapenser ne

0 0
Add a comment
Know the answer?
Add Answer to:
CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 4 Incomplete answer Marked out of 33.00 Variable and...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Variable and Absorption Costing Summarized data for 2019 (the first year of operations) for Gorman Products,...

    Variable and Absorption Costing Summarized data for 2019 (the first year of operations) for Gorman Products, Inc., are as follows: Sales (70,000 units) $2,800,000 Production costs (80,000 units) 880,000 Direct material Direct labor 720,000 Manufacturing overhead: Variable 544,000 Fixed 320,000 Operating expenses: Variable 175,000 Fixed 240,000 Depreciation on equipment 60,000 Real estate taxes 18,000 Personal property taxes (inventory & equipment) 28,800 Personnel department expenses 30,000 a. Prepare an income statement based on full absorption costing. Only use a negative sign...

  • Fill in the blanks please Variable and Absorption Costing Summarized data for 2016 (the first year...

    Fill in the blanks please Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products, Inc., are as follows: Sales (75,000 units) $4,500,000 Production costs (80,000 units) Direct material 1,320,000 Direct labor 1,080,000 Manufacturing overhead: Variable 816,000 Fixed 480,000 Operating expenses: Variable 252,000 Fixed 360,000 Depreciation on equipment 90.000 Real estate taxes 27,000 Personal property taxes (inventory & equipment) 43,200 Personnel department expenses 45,000 a. Prepare an income statement based on full absorption costing....

  • please fill out the rest of a, b, and c Variable and Absorption Costing Summarized data...

    please fill out the rest of a, b, and c Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products, Inc., are as follows: Sales (75,000 units) $6,000,000 Production costs (80,000 units) Direct material 1,760,000 Direct labor 1,440,000 Manufacturing overhead: Variable 1,088,000 Fixed 640,000 Operating expenses: Variable 336,000 Fixed 480,000 Depreciation on equipment 120,000 Real estate taxes 36,000 Personal property taxes (inventory & equipment) 57,600 Personnel department expenses 60,000 a. Prepare an income statement...

  • Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products,...

    Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products, Inc., are as follows: Sales (75,000 units) $4,500,000 Production costs (80,000 units) Direct material 1,320,000 Direct labor 1,080,000 Manufacturing overhead: Variable 816,000 Fixed 480,000 Operating expenses: Variable 252,000 Fixed 360,000 Depreciation on equipment 90,000 Real estate taxes 27,000 Personal property taxes inventory & equipment) 43,200 Personnel department expenses 45,000 a. Prepare an income statement based on full absorption costing, Only use a negative sign...

  • Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products,...

    Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products, Inc., are as follows: Sales (75,000 units) $3,000,000 Production costs (80,000 units) Direct material 880,000 Direct labor 720,000 Manufacturing overhead: Variable 544,000 Fixed 320,000 Operating expenses: Variable 168,000 Fixed 240,000 Depreciation on equipment 60,000 Real estate taxes 18,000 Personal property taxes (inventory & equipment) 28,800 Personnel department expenses 30,000 a. Prepare an income statement based on full absorption costing. Only use a negative sign...

  • Variable and Absorption Costing Summarized data for 2019 (the first year of operations) for Gorman Products,...

    Variable and Absorption Costing Summarized data for 2019 (the first year of operations) for Gorman Products, Inc., are as follows: Sales (70,000 units) $2,800,000 Production costs (80,000 units) Direct material 880,000 Direct labor 720,000 Manufacturing overhead: Variable 544,000 Fixed 320,000 Operating expenses: Variable 175,000 Fixed 240,000 Depreciation on equipment 60,000 Real estate taxes 18,000 Personal property taxes (inventory & equipment) 28,800 Personnel department expenses 30,000 a. Prepare an income statement based on full absorption costing. Only use a negative sign...

  • Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products,...

    Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products, Inc., are as follows: Sales (75,000 units) $7,500,000 Production costs (80,000 units) Direct material 2,200,000 Direct labor 1,800,000 Manufacturing overhead: Variable 1,360,000 Fixed 800,000 Operating expenses: Variable 420,000 Fixed 600,000 Depreciation on equipment 150,000 Real estate taxes 45,000 Personal property taxes (inventory & equipment) 72,000 Personnel department expenses 75,000 a. Prepare an income statement based on full absorption costing. Only use a negative sign...

  • please fill out a and b Variable and Absorption Costing-Service Company Lawn RX, Inc. prepares a...

    please fill out a and b Variable and Absorption Costing-Service Company Lawn RX, Inc. prepares a variable costing income statement for internal management and an absorption costing income statement for its bank. Lawn RX provides a quarterly lawn care service that is sold for $175. The variable and fixed cost data are as follows: Direct labor $100.00 Overhead Variable cost per unit $23.00 Fixed cost $100,000 Marketing general and administrative Variable cost per service contract completed) $24.00 Administrative expenses (fixed-...

  • Variable and Absorption Costing Summarized data for 2019 the first year of operations) for Gorman Products,...

    Variable and Absorption Costing Summarized data for 2019 the first year of operations) for Gorman Products, Inc., are as follows: Sales (70.000 units) Production COSES 80,000 units Direct material Direct labor Manufacturing overhead Operating expenses Depreciation on equipment Real estate taxes Personal property taxes inventory equipment Personnel department expenses 2800 2000 a. Prepare an income statement based on full absorption costing Only use a negative sign with your answer for net income loss if the answer represents a netlos. Otherwise...

  • Variable and Absorption Costing-Service Company Lawn RX, Inc. prepares a variable costing income statement for internal...

    Variable and Absorption Costing-Service Company Lawn RX, Inc. prepares a variable costing income statement for internal management and an absorption costing income statement for its bank. Lawn RX provides a quarterly lawn care service that is sold for $190. The variable and fixed cost data are as follows: $100.00 Direct labor Overhead Variable cost per unit Fixed cost (annual) Marketing, general and administrative Variable cost (per service contract completed) Administrative expenses (fixed- annual cost) $33.00 $100,000 $34.00 $42,000 During 2016,...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT