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Absorption vs. Variable CostingVarilux manufactures a single product and sells it for $10 per unit. At the beginning of the year there were 1,000 units in inventory. Upon further investigation, you discover that units produced last year had $3.00 of fixed manufacturing cost and $2.00 of variable manufacturing cost. During the year Varilux produced 10,000 units of product. Each unit produced generated $3.00 of variable manufacturing cost. Total fixed manufacturing cost for the current year was $40,000. There were no inventories at the end of the year.Required:Prepare two income statements for the current year, one on a variable cost basis and the other on an absorption cost basis. Explain any difference between the two net income numbers and provide calculations supporting your explanation of the difference.
Service Cost Centres Since no production cost units pass via the service cost centers, it is essential to apportion the service department costs; to the production cost center
Martinez Corporation engaged in the following cash transactions during 2012. Sale of land and building $186,710 Purchase of treasury stock 42,130 Purchase of land 39,130
Q. What are the advantages and disadvantages of free float? Advantages: It is one of the most suitable ER regimes for transitional countries that experience external shocks l
company XY produces a single product ''XY1" selling price per unit 15, direct materials per unit 4 direct labour per unit 3 variable overhead per unit 2 fixed overhead incurred 12
Direct Material Price Variances The two direct material price variances can be summarized given as: From our basic data first before the beginning of the discussion on
ADVANTAGES OF COST ACCOUNTING 1. It helps in efficient decision making. 2. It assists in cost drop. 3. It is useful in obsession of selling price
Q. Given the below information, what is the dollar amount that the LIFO liquidation added to gross margin? Number of Units Price per Unit
Marginal analysis finds to equalize the cost of producing one more item (marginal costs) with the revenue gained from selling one more item (marginal revenue).
What are the dependent and independent variables in Cost Accounting??
The Zooline Company (Pty) Ltd is an American based company that focuses on the LSM 8 -10 markets. They do vehicle interiors, raise or lower suspensions and install top end sound sy
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