Answer the following question in your own words:

Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Colu

Mekhanik [1.2K]

Answer:

Value of closing Inventory under absorption costing = $56,610

Explanation:

Provided sales for the month = $902,000 a the rate of $22 per unit.

That means sales in units = $902,000/ $22 = 41,000 units.

Provided opening stock of finished goods = 8,770 units

Production for the month of November = 35,560 units

Closing inventory = Opening + Manufactured - Sales

= 8,770 + 35,560 - 41,000 = 3,330

Under absorption costing only manufacturing overheads are added to the cost of goods, operating expenses like selling & administrative do not form part of that.

Variable cost of goods sold do not include operating expenses, as variable selling expenses are provided separately.

Therefore cost of goods sold per unit = $574,000/41,000 = $14 per unit.

Variable selling expenses will not form part of value of closing inventory under absorption costing.

Fixed manufacturing expenses will be considered fully with the production quantity of 35,560 units as no production capacity has been provided.

Manufacturing fixed cost per unit = $106,680/35,560 = $3 per unit

Value of closing Inventory = Cost of goods sold per unit + Fixed cost per unit allocated

= ($14 X 3,330) + ($3 X 3,330) = $56,610

8 0

2 years ago

What can organizations do to institutionalize organizational learning? What practices and policies would aid in knowledge acquis

elena-s [515]

Answer:

There are many things that a company can do to institutionalise learning and knowledge. Some of them doesn't even cost much and take a lot of time to be implemented.

Empowerment of individual employees. Giving them more autonomy in the job and the capacity to work freely with the peers.

Making teams rather than working individually. Team spirit is essential in the learning process and to promote sharing.

Conducting internal development and training programs on a regular basis.

Using social media platforms to connect the employees so that they are able to share their knowledge, expertise on a real-time basis.

Reducing the power gap between the employees and their superiors.

Explanation:

8 0

2 years ago

Using the data below, calculate GDP. Show your work. Personal consumption expenditures $5,207 Interest 425 Corporate profits 735

Natasha2012 [34]

Answer:

GDP= 7634

Explanation:

Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. It is an indicator to measure the economic health of a country.

The formula to calculate GDP is of three types – Expenditure Approach, Income Approach, and Production Approach.

The Expenditure Approach is a method of measuring GDP by calculating all spending throughout the economy including consumer consumption, investing, government spending, and net exports. This method calculates what a country produces, assuming that the finished goods and services of a country equals the amount spent in the country for that period.

The formula is:

GDP=C+I+G+/-NX

GDP: Gross Domestic Product

(C) consumer spending – this is the amount that all consumers spend on goods and services for personal use.

(I) investment – this is the amount that businesses or owners spend to invest in new equipment or expansions.

(G) government spending – this includes spending on new infrastructure like bridges and roads.

(NX) net exports – this includes spending on a country’s exports minus its spending on imports.

Personal consumption expenditures $5,207

Government spending 1,406

Gross private domestic investment 1,116

Exports 870

Imports 965

GDP= 5207+1406+1116+(870-965)

GDP= 7634

Notice that we didn't include Wages, Corporate Profits, Depreciation, etc. The expenditure income approach doesn't include Wages. They are part of the formula to calculate GDP by the Income Approach.

7 0

2 years ago

Ivan is an operations manager of a chain of amusement parks. Before she determines a new location for a park, she must forecast

Lelechka [254]

Answer:

because Ivan's decisions will impact the substantial cost of the business.

Explanation:

An operations manager is responsible for managing organizational resources and applying them effectively to meet organizational goals and objectives. It is therefore necessary that Ivan as the operations manager of a network of amusement parks, before determining a new location for a park, he must anticipate the customer demand and determine the adequate capacity of the site for the construction of the park. that their decisions will directly impact the substantial cost of the business, that is, the planning must meet the needs specified by the customer so that the cost is compatible with the budget provided for by an effective planning for that business.

Organizational resources must be allocated efficiently and effectively so that there is compliance with the objectives and goals of a business and for it to be well positioned and successful in the market.

4 0

1 year ago

Tektron Industries has Beginning and Ending Raw Materials Inventories of $32,000 and $40,000, respectively. Direct Materials use

ch4aika [34]

Answer:

$138,000

Explanation:

The computation of the cost of Raw Materials Purchased is shown below:

= Direct materials used + ending direct material inventory - beginning direct material inventory

= $130,000 + $40,000 - $32,000

= $138,000

Simply we added the ending direct material inventory and deduct the beginning direct material inventory to the direct material used so that the accurate amount can come

5 0

2 years ago