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The following information relates to Porter Manufacturing for fiscal 2011, the company's first year of operation:
Selling price per unit............. $ 150Direct material per unit............ $ 75Direct labor per unit ............. $ 30Variable manufacturing overhead per unit.... $ 5Variable selling cost per dollar of sales.....$ 0.05Annual fixed manufacturing overhead....$2,750,000Annual fixed selling expense.......$1,500,000Annual fixed administrative expense......$ 900,000Units produced...............$ 250,000Units sold.................$ 230,000
Required:
a. Prepare an income statement using full costing.b. Prepare an income statement using variable costing. c. Calculate the amount of fixed manufacturing overhead that will be included in ending inventory under full costing and reconcile it to the difference between income computed under variable and full costing.
Explain verbally and graphically how the socially efficient amount of this good can be provided for them. Explain each term used in your answer.
Use a vertical model to show the 2013 income statement, balance sheet, and statement of cash flows under FIFO, LIFO, and weighted average.
What effect will this have on the 2013 income statement?
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You will complete an industry analysis of a U.S. industry of your choosing. Each student must choose a different industry. The following is a suggested outline.
lance limited manufactures a special component wkq 14 that is used in the making of calculators. as a step towards
Identify each of the following statements with fixed costs or variable costs by writing fixed or variable in the space provided.
Read the following scenario. Respond to the scenario with an essay laying out a managerial plan that is rooted in the Managerial Accounting knowledge that you have acquired thus far in the semester.
Do transferred in costs occur in all departments of a manufacturer using a process costing system? Explain.
Prepare a cash budget for each of the first two quarters of 2012 - Lager Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2012.
Summary information from the financial statements of two companies competing in the same industry follows.
How could a management accounting system foster such a culture, or undermine it? What do you conclude are the two main means of measuring service quality at BAA?
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