Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Mr. Rosen is the manager of a division of Jokkmok Industries. He is one of several managers being considered for the position of CEO, as the current CEO is retiring in a year.
All divisions use standard absorption costing. The division has the capacity to produce 50,000 units a quarter and quarterly fixed overhead amounts to $600,000. Mr. Rosen has been looking at the report for the first three months of the year and is not happy with the results.
Division Income Statement
For the Quarter Ending March 31, 2013
Production: 25,000 units
Sales (25,000 units)
$2,500,000
Cost of goods sold
1,800,000
Gross profit
$700,000
Selling & general expenses
350,000
Net income
$350,000
The sales forecast for the second quarter is 25,000 units. Mr. Rosen had budgeted second quarter production at 25,000 units but changes it to 50,000 units, which is total capacity for a quarter. The sales forecasts for each of the last two quarters of the year remain at 25,000 units. Actual fixed costs incurred remain constant in total and variable costs remain constant on per unit basis.
Computations:
Discussion:
Assuming that this activity is within the relevant range, illustrate what is the total expected cost if the activity level is 17,300 machine hours?
question on 1st january 2013 the balance in kubera cos allowance for bad debts account was 1300. through the year a
Calculate the profit for the previous period and then calculate the Capital figure as at 1 July (ready for the start of the next year).
How much would its accounts receivable decline and what cash flow from sales is expected in March
the allowance for doubtful accounts was a debit of $100,000. If 2% of the accounts receivable are expected to be uncollectible, what is credit balance in the allowance account after the year-end adjustment
A company has current assets of $607,500 and current liabilities of $262,700. The board of directors declares a cash dividend of $167,000. What is the current ratio after the declaration but before payment?
Complete the schedule on the answer sheet by entering EACH COST in the amount for the production of 50,000 units as (a) either a product cost and compute totals for each column. In other words, you should have a total for direct materials, direct ..
Determine the present value of each plan. (Round present value factor calculations to 4 decimal places, e.g. 0.2525. Round all other calculations and final answer to 0 decimal places, e.g. 5,250.)
what is the minimum monthly income needed to purchase a $300,000 house when the interest rate 6% compounded monthly?
Assume Candy Company accounts for accumulated depreciation by eliminating the accumulated depreciation against the gross carrying amount of the asset and restating the net amount to the revalued amount of the asset.
question evaluate product cost and purpose an income statement under absorption and variable costing.polk company
Using the following Adjusted Trial Balance, (1) prepare an Income Statement, (2) Statement of Retained Earnings (note that Retained Earnings has a beginning balance of $78,600 as shown in the unadjusted Trial Balance), and (3) Balance Sheet.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd