Answer:
Refer To The attached screen shot. It contains the Income Statement Prepared under Absorption Costing.
Explanation:
Absorption Costing assumes that the Manufacturing Costs include Direct Material, Direct Labor, Variable Overhead, and Fixed Overhead. Whereas, Selling and Administrative Expenses are classified as period Costs. These period costs are recognized in the period in which they are incurred. On the other hand, the manufacturing costs are recognized when the goods on which the costs were incurred are sold. That's why we don't recognize $78,000 as a Fixed Overhead because these overhead costs were incurred to produce 6,000 rackets. We have to calculate the fixed overhead cost per unit and multiply it with the units sold.
I hope I made it clear. If you have any queries, feel free to contact me.
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Answer:Manufacturing costs assigned to completed units = $1143192
Explanation:
Material Costs = $600 000 (added at the beginning)
Conversion costs = $642600 incurred uniformly through out the process
Units Started = 100 000
Units on hand = 8000 units 40% complete
Units completed = 100 000 - 8000 = 92000 units
Percentage of units completed = 92000/100 000 = 92%
Material costs = $600 000 x 92% = $552000
Conversion Costs = $642 600 x 92% =$591192
Manufacturing costs assigned to completed = $552000 + $591192
Manufacturing costs assigned to completed units = $1143192
Answer:
You didn’t provide a list so I came up with possible answers.
Choreographer
Writer
Actor/Actress
Director
Answer: <u><em>A college student starts a part-time tutoring business is not an example of a barrier to entry.</em></u>
This is not an example of barrier to entry since in this particular case others students can easily utilize the same opportunity and enter into this particular business. In this case there is no legal barriers so that others cannot enter or exit into this industry or business.
<u><em></em></u>
<u><em>Therefore the correct option is (d).</em></u>
Answer:
$154,900
Explanation:
The computation of the total cost of operating the assembly department as follows:
= Direct expenses of assembly department + allocated amount
= $123,400 + $52,500 × 69,000 ÷ (69,000 + 46,000)
= $123,400 + $52,500 × 69,000 ÷ 115,000
= $123,400 + $31,500
= $154,900
