Solution-Prepare operating income statements using variable

Prepare operating income statements using variable costing

Assignment Help Managerial Accounting

Reference no: EM132514883

Skinny Dippers, Inc. produces nonfat frozen yogurt. The product is sold in ten-gallon containers, which have the following price and variable costs.

Sales price. $ 46

Direct material 17

Direct labor 11

Variable overhead 10

Budgeted fixed overhead in 20x1, the company's first year of operations, was $600,000. Actual production was 200,000 ten-gallon containers, of which 190,000 were sold. Skinny Dippers, Inc. incurred the following selling and administrative expenses.

Fixed $ 200,000 for the year

Variable $ 3 per container sold

Question 1: Prepare operating income statements for 20x1 using variable costing?

Question 2: Reconcile the operating income reported under the two methods by listing the two key places where the income statements differ?

Reference no: EM132514883

Questions Cloud

Height and nutrition through childhood are positively : How does this relate to the coefficient of determination beyond just the numbers? How does this relate to the coefficient of alienation?

ACCT2006 Financial Reporting Assignment : ACCT2006 Financial Reporting Assignment Help and Solution, Curtin University - Assessment Writing Service - Consider the negative consequences to Woolworths

Explain defensive scripting and how it works : Cybersecurity professionals need to know the differences in the tools used to automate network defense and cybersecurity attacks by hackers in order to properly

Estimate expected percentage return µw and risk sw : Previously, you studied linear combinations of independent random variables. What happens if the variables are not independent? A lot of mathematics

Prepare operating income statements using variable costing : Reconcile the operating income reported under the two methods by listing the two key places where the income statements differ?

Evidence for a causal connection between two variables : Are there circumstances when a correlation can be interpreted as evidence for a causal connection between two variables? If yes, what circumstances.

Differences between the windows and linux operation system : Research the security differences between the Windows and the Linux operation system. In 500-750 words, address the following: Proactive and reactive defensive.

Find how much will monthly profits increase or decrease : The units must be sold through regular channels at reduced prices. What unit cost is relevant for establishing a minimum selling price for these units? Explain.

What is the probability that no units are in the system : What is the probability that no units are in the system? If required, round your answer to four decimal places.

User Account

All Pages

Prepare operating income statements using variable costing

Reference no: EM132514883

Reference no: EM132514883

Questions Cloud

Reviews

Write a Review

Managerial Accounting Questions & Answers

Manage budgets and financial plans

Prepare a retained earnings statement

Prepare a master budget for the three-month period

Construct the companys direct labor budget

Evaluate the predetermined overhead rate

Determine the company''s bid

Compute the pool rates for the different activities

Prepare Company financial statements

Prepare an analysis of terracycles

Discuss the ethical issues

Political resources in emerging markets

Management accounting - ehsan electronics company

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT