Determine income under both full and variable costing

Assignment Help Accounting Basics
Reference no: EM131821956

Question - McShane Inc. manufactures hair brushes that sell at wholesale for $60.00 per unit. Budgeted production in both 2009 and 2010 was 2,000 units and fixed overhead budgeted was $25,000 in each year. There was no beginning inventory in 2009. The following data summarized the 2009 and 2010 operations:

2009 2010

Units sold 2000 2000

units produces 2500 1500

Costs

Variable Mfg unti cost 20 20

Fixed factory overhead 25000 25000

Variable marketing unit cost 2 2

Fixed administrative 10000 10000

Required: Determine income under both full costing and variable costing and explain the difference.

Reference no: EM131821956

Questions Cloud

Elements of critical thinking - review post : Gen 499: Elements of Critical Thinking Review your classmates' posts, and respond to your peer - Discuss additional ways one can think more critically
Respect to confidentiality : What obligations does a researcher have with respect to confidentiality?
What would be the optimal emissions tax to set : Given your estimates of the marginal cost and benefit of abatement. What would be the optimal emissions tax to set?
Summary analysis of the victims bill of rights for kentucky : Provide a summary analysis of the Victim's Bill of Rights for Kentucky, indicate whether or not these provisions are effective.
Determine income under both full and variable costing : McShane Inc. manufactures hair brushes that sell at wholesale for $60.00 per unit. Determine income under both full costing and variable costing
Determining the success of perth woolen company : Suppose sales, rather than production, is the critical factor in determining the success of Perth Woolen Company.
Describe the fit of the work activity and setting : How would you describe the fit of the work activity and setting? Be sure to mention how the human body fits.
Find a real case that subscribes to the rational choice : Find a real case that subscribes to the Rational Choice Theory. Write a summary of the criminal case that is between 300-500 words.
Determining the power of the press : Go to the Daily Mail website, located here, or use other business-related websites of your choice to search for a news article concerning a company

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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