User Account

All Pages

What is Bob reported income and cost of inventory

Assignment Help Managerial Accounting
Reference no: EM132864320

Question - Bob's Manufacturing provides you with the following information for the most recent month of operations:

Units in beginning inventory 0

Units produced 2,000

Units sold 1,600

Selling price $50 per unit

Fixed manufacturing costs $24,000

Fixed selling and administrative costs $10,000

Variable manufacturing costs $16 per unit

Variable selling and administrative costs $6 per unit

Required -

a. What is Bob's reported income and cost of ending inventory under variable costing?

b. What is Bob's reported income and cost of ending inventory under absorption costing? Assume Bob allocates cost using units produced.

c. Reconcile the difference between Bob's income under variable costing and absorption costing?

Reference no: EM132864320

Questions Cloud

Assess whether the new customer offer should be accepted : Materials: Some wood has been bought at a cost of $520 and remained unused. Assess whether the new customer offer should be accepted
Christian health administrator to lead change : Discuss how Stephen Covey's three resolutions might be utilized by the Christian health administrator to lead change.
How important is to randomly select subject : How would the results be affected if you increased the number of subjects in the study to one thousand? Why might that affect the overall correlation?
What have been some of the main challenges posed : What have been some of the main challenges posed by the growing use of medical technology in the United States? Next, how do American cultural beliefs
What is Bob reported income and cost of inventory : What is Bob's reported income and cost of ending inventory under absorption costing? Assume Bob allocates cost using units produced
Handled carefully by procurement professional : We enter an area which must be handled carefully by the procurement professional, especially at the management level.
Why is that virtue or virtues to be shown : Why is that virtue or those virtues to be shown? How should the virtue or virtues be expressed, and why in that manner? Apply Aristotle's golden mean.
What potential-possible recommendations would you make : John recently got married to Gail, and together they purchased a home for $800,000. What potential/possible recommendations would you make
Strategic leadership and entrepreneurship analysis : Based on the organization you selected, write a strategic leadership and entrepreneurship analysis

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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