Complete the statement in good format

Assignment Help Financial Accounting
Reference no: EM131133075

Background information

 

Total

Prod A

Prod B

Beginning inventory

0



Units produced

10,000

2,500

7,500

Units sold

8,000

2,000

6,000

 




Selling price per unit

$255

480

180

Variable costs per unit




Direct material

100

280

40

Direct labor

60

60

60

Variable overhead

25

40

20

Variable selling and admin. exp.

10

13

9

 




Fixed costs




Fixed manufacturing overhead

200,000



Fixed selling and administrative

100,000



 




Production runs (not $)

100

65

35

Number of sales reps (not $)

25

15

10

Here are the first few lines of the segmented income statement to help you get started. Complete the statement in good format and make sure you allocate the fixed costs to the two products. When done, comment on the information and the relative profitability of the two products.

Herrestad Company
Segmented Income Statement
For the period ending Dec. 31, 2011

 

A

B

Total

Sales

$960,000

$1,080,000

$2,040,000

Variable costs:




Direct material

560,000

240,000

800,000

The submission should be 2 to 4 pages and need to include answers to all the questions listed above. Show computations, discuss the results and include references in APA format.

Reference no: EM131133075

Questions Cloud

Prepare the schedules for each month in the first quarter : Prepare the following schedules for each month in the first quarter of 2017 and for the quarter in total: Expected collections from clients. Expected payments for landscaping supplies.
What are rountrees argument and significance : In Pocahontas, Powhatan, Opechancanough, written by Helen C Rountree, what are Rountree's argument and significance?
Which measures juma takes to succeed at every level profit : which measures should he take to ensure that he uses the whole amount to investment as an upcoming entreprenuer without failing but succeed at every level profit?
How often do try to resist biases toward your own point view : What's interesting or helpful about this view? What would I notice if I believed this view? In what sense or under what conditions might this idea be true?"
Complete the statement in good format : Here are the first few lines of the segmented income statement to help you get started. Complete the statement in good format and make sure you allocate the fixed costs to the two products.
Believe that ethics and social responsibility : Do you believe that ethics and social responsibility should be part of an entrepreneurship course or did the textbook authors just include a section on it to be "politically correct"?
Assignment on a legal and ethical dilemma : Deciding to place a loved one into a long-term care facility can be extremely difficult. Even more difficult is the thought of your loved one's rights being violated while in long-term care.
What was the copernican revolution : What was the "Copernican Revolution," who were its leading exponents between 1550-1610, & what principal works or concepts did they produce?
Improving the tone of an e-mail message : Your Task. Analyze the following demanding e-mail to be sent by the vice president to all employees. In teams or individually, discuss the tone and writing faults in this message. Your instructor may ask you to revise the message so that it reflec..

Reviews

Write a Review

 

Financial Accounting Questions & Answers

  Persons do not pass both the age and relationship tests

Which of the following persons do not pass both the age and relationship tests for a qualifying child. A dependent’s only income for 2014 is $6000 of taxable wages $840 of taxable interest on a savings account the dependent’s 2014 taxable income is $..

  How course has affected you in professional development

Discuss how this course has affected you in your professional development as a student, and as a person, as well as how it has encouraged you on your academic path.

  Difference between resources used and resources supplied

manufactures two types of shoes Compute unused capacity for these items difference between resources used and resources supplied

  1 according to the textbook there is a finite amount of

1. according to the textbook there is a finite amount of time that our civilization can exist based on which of the

  Calculate number of shares outstanding

Calculate number of shares outstanding at the time of the cash dividend and the amount of cash required to fund the cash dividend.

  By how many days would the cash conversion cycle be changed

By how many days would the cash conversion cycle be changed? - Cash conversion cycle

  Evaluate the amount of net loss

Evaluate the amount of net loss that Jones can report on its income statement for the year

  What are consequences of these problems for investors

What are the likely causes of these problems and what are consequences of these problems for investors, Czech companies, and the Prague Stock Exchange?

  Assignment cost benefit analysisyou have to prepare a

assignment cost benefit analysisyou have to prepare a 5-page costbenefit analysis of the sarbanes-oxley act. the focus

  Prepare stockholders equity section of deluxs balance sheet

Prepare the stockholders' equity section of Delux's balance sheet as of December 31, 2015. Net loss for 2015 was $436,000. (Hint: Use T accounts to keep track of transactions.)

  Compute the amount to be shown in the balance sheet

Assuming Curtiss uses the percentage-of-completion method of accounting for long-term construction contracts, compute gross profit or loss to be recognized in each of the three years.

  Evaluate the debt service fund of a governmental entity

With regard to the resources dedicated to the acquisition of fixed assets that will be used in general government activities, which of the following is true?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd