Compute the dollar amount of ending inventory and profit
Course:- Accounting Basics
Reference No.:- EM13157952

Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Accounting Basics

baker company produced 30000 units and sold 28000 units in 2011 ($200/unit). Beginning inventory was zero. During the period, the following costs were incurred.
indirect labor $60000
indirect materials $30000
Other (variable overhead) $90000
Fixed manufacturing overhead $180000
Fixed administrative expenses $150000
Fixed selling expenses $120000
Variable selling expenses, per unit $40
Direct labor, per unit $80
Direct materials, per unit $20
Compute the dollar amount of ending inventory and profit using absorption costing.
Compute the dollar amount of ending inventory and profit using variable costing.
Reconcile and explain the difference between absorption costing profit and variable costing profit. 

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
Identify four types of specialists that you would assemble to provide information to help set the materials price and quantity standards. Briefly explain why you chose eac
Jacksonville Bike Shop is behind on a custom bike and needs to crash 1 day of time from the 6-step project. Given the project table below answer the following questions. Sup
Vannoy Corporation will invest $30,000 every January 1st for the next six years (2012 - 2017). If Wagner will earn 12% on the investment, what amount will be in the investme
Sutton Company produces head sets for computers, which it sells for $20 each. The variable cost to make each head set is $6. During April, 700 sets were sold. Fixed costs fo
Straight-line depreciation is used. Demers reported net income of $28,000 and $32,000 for 2006 and 2007, respectively. Compute the gain recognized by Demers Company relating
A firm is considering the purchase of an automatic machine for $6,200. The machine has an installation cost of $800 and zero salvage value at the end of its expected life of
Assignment - Superannuation and Retirement Planning. Identify any gaps in your data collection based on the fact finder in Appendix 1 and the summary of information provided.
a $16,200 increase in accounts payable, a $13,300 decrease in wages payable, a $79,400 increase in equipment, and a $106,000 decrease in notes payable. Calculate the net incre