User Account

All Pages

Cd new is a direct marketer of popular music the following

Assignment Help Accounting Basics
Reference no: EM13597786

CD New is a direct marketer of popular music. The following information about its revenue and cost structure is available:

  • Selling price $13.00 per CD
  • Variable Costs:
  • Direct Materials $ 1.00
  • Direct Labor 1.25
  • Variable Overhead .75
  • Selling and Admin 1.00
  • Fixed Costs:
  • Overhead $1,000,000 per year
  • Selling and Admin $3,000,000 per year

Assume that 500,000 CDs are produced and 450,000 are sold in 2010.

Required:
a) What is net income under Variable Costing?
b) What is net income under Absorption Costing?
c) What is ending inventory under Variable Costing?
d) What is ending inventory under Absorption Costing?

Reference no: EM13597786

Questions Cloud

A recent income statement of walmart reports sales of : a recent income statement of walmart reports sales of 405046 million and cost of goods sold of 304657 million for the
Determine hassells and lawsons participation in the years : candace hassell and abby lawson formed a partnership investing 240000 and 80000 respectively.independent assumptionsa
Ivy industrial packing co purchased a packing machine for : ivy industrial packing co purchased a packing machine for 950000 at the beginning of 2009. the robot has an estimated
You are applying the scattergraph method and find that the : you are applying the scattergraph method and find that the regression line you have drawn passes through a data point
Cd new is a direct marketer of popular music the following : cd new is a direct marketer of popular music. the following information about its revenue and cost structure is
Current assets totaled 100000 and the current ratio was 15 : current assets totaled 100000 and the current ratio was 1.5. assume that the following transactions were completed. 1
Prepare the companys cash budget for february in good form : payment inc. is preparing its cash budget for february. the budgeted beginning cash balance is 27000. budgeted cash
What is to come in the last week of the class in this : deliverable length 3 parts see assignment details task background this individual project assignment serves as a
The following information pertains to tanzi company assume : the following information pertains to tanzi company. assume that all balance sheet amounts represent both average and

Reviews

Write a Review

Accounting Basics Questions & Answers

  Change the compensation of salespersons from fixed annual

denny manufacturing had a bad year in 2012. for the first time in its history it operated at a loss. the companys

  Write down a 700- to 1050-word paper in which you

write a 700- to 1050-word paper in which you differentiate between managerial and financial accounting.address the

  Sparkling pools provides 1000 of pool maintenance services

sparkling pools provides 1000 of pool maintenance services during july and collects payment in august. the company

  Who has no assets

Maria Rivera, owner of Rivera Pharmacy, uses the direct write-off method in accounting for uncollectible accounts. Record the following transactions in general journal form.

  If the materials quantity variance was 4560 unfavorable

kansas company uses a standard cost accounting system. in 2014 the company produced 28100 units. each unit took several

  A gain is recognized in a nontaxable exchange to the extent

a gain is recognized in a nontaxable exchange to the extent that you receive property or cashtrue or false and

  Kragan clothing company manufactures its own designed and

kragan clothing company manufactures its own designed and labeled sports attire and sells its products through catalog

  Joes beginning and ending inventories contain unconfirmed

joes beginning and ending inventories contain unconfirmed profits on goods purchased from sam of 70000 and 90000

  Jobs on the basis of direct labour cost

Sigma company applies overhead cost to jobs on the basis of direct labour cost. Job A,which was started and completed during the current period,shows charges of 5,000 for direct materials,8000 for direct labour,and 6,000 for overhead on its job co..

  Comparable bonds are yielding 8 annual interest so gladys

glayds is an accrual-basis that uses a periodic inventory system 1. gladys issued 500000 of 10-year bonds that will pay

  Figure 4-6 xeller company makes electronic keyboards the

figure 4-6. xeller company makes electronic keyboards. the practice model price is 220 and variable expenses are 190.

  Journal entry to record the dividend

Prepare the journal entry to record the dividend. By December 31, Washington Posts fiscal year-end, the market value of INews shares has dropped from $60 to $58 per share. How much has Washington Posts portfolio value changed?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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