Front Company had net income of $82,500 based on variable costing. Beginning and ending inventories were 1,800 units and 3,200 units, respectively. Assume the fixed overhead per unit was $8.40 for both the beginning and ending inventory. What is net income under absorption costing

Answers

Answer 1

Answer:

$94,260.00

Explanation:

There is no doubt that the difference between net income under absorption costing and variable costing method lies in the treatment of fixed cost, under the former, each product is charged with fixed cost while total fixed cost is charged as a  period cost under the latter.

In essence, the fixed cost on ending inventory would have been expensed and deducted in arriving at net income under variable cost, in other words, we simply add to net income under variable costing the fixed cost attributable to an increase in ending inventory

income=$82,500+(3200-1800)*$8.40

net income=$94,260.00


Related Questions

For February, sales revenue is $250,000; sales commissions are 6% of sales; the sales manager's salary is $50,000; advertising expenses are $15,000; shipping expenses total 1% of sales; and miscellaneous selling expenses are $1,000 plus 1/2 of 1% of sales. Total selling expenses for the month of February are:_______.
a. $65,000.
b. $69,750.
c. $82,250.
d. $84,750.

Answers

Answer:

d. $84,750.

Explanation:

Calculation to determine what Total selling expenses for the month of February are:

Sales commissions $15,000

($250,000 ×6%)

Sales manager's salary $50,000

Advertising expenses $15,000

Shipping expenses $2,500

($250,000 × 1%)

Miscellaneous selling expense $2,250

[$1,000 + ($250,000 × 0.5%)]

Total selling expenses $84,750

Therefore Total selling expenses for the month of February are:$84,750

Explain why, for income tax purposes, management of Dorsey Co. would want as little of the purchase price as possible allocated to land. (Select all that apply.)

Answers

Answer:

In simple words, any company operating a business do not want to allocate much price to the land as it is non current asset and also it does not depreciate in value over time.

The depreciation amount reduces the taxable income of the year which further results in less taxable amount. Thus, resulting in higher profits for the company.

A money market security that has a par value of $10,000 sells for $8,924.70. Given that the security has a maturity of two years, what is the investor's required rate of return?

Answers

Answer:

The answer is "5%".

Explanation:

[tex]\to \$8,924.70 = \frac{10,000}{(1 + r )^2}\\\\\to \$8,924.70 (1+r)^2= 10,000\\\\\to (1+r)^2= \frac{10,000}{\$8,924.70}\\\\\to (1+r)^2= \frac{10,000}{\$8,924.70}\\\\\to (1+r)^2= 1.1204\\\\\to (1+r)= 1.05\\\\\to r= 1.05-1\\\\\to r=0.05\\\\\to r=5\%\\\\[/tex]

External costs occur because Group of answer choices Private costs do not reflect the full costs to society All costs are absorbed by the firm Firms make a choice other than the most cost-efficient production method Government failure increases costs for the firm

Answers

Answer:

Private costs do not reflect the full costs to society

Explanation:

External costs are costs incurred by third parties not involved in production or consumption activities

external cost can either be negative or positive

A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced.

A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced.

The purposeful use of symbols to allow multiple interpretations of messages is called:____.
a. strategic ambiguity.
b. crisis communication.
c. interaction management.
d. conflict management.
e. customer service management.

Answers

Answer:

a. strategic ambiguity.

Explanation:

The use of strategic ambiguity permits the views for diversify or interpretations also at the same time it promotes inclusiveness and unity

The mission and vision sttaement should be confused and normal in nature in order to provide the accomodation

So the use of symbols for permitting out the multiple interpretations of messages is known as the strategic ambiguity

Therefore the option a is correct

What is the purpose of an inspection report ​

Answers

Answer:The purpose of inspection reports is to document the inspection scope, observation, and findingsof inspections conducted by the NRC. 

Explanation:The NRC performs inspections to oversee the commercial nuclear industry to determine whether its requirements are being met by licensees and their contractors.

By appropriately preparing a forecast budget, a company can avoid __________. a net loss inventory shortages insolvency regulation

Answers

Answer:

insolvency

Explanation:

A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.

The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.

The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.

A specialized budget can be defined as a financial plan that is typically focused on specific assets or activity of a master (comprehensive) budget.

In conclusion, by appropriately preparing a forecast budget, a company can avoid insolvency.

Check all answers that apply. Based on the model output, we can say that both the size of the move (CuFt) and number of large furniture moved are important considerations when estimating the total number of labor hours required. We can make this claim because __________.'

Answers

Answer:

P-value for slope coefficient of the size of the mode CuFt is0.00

Explanation:

The slope coefficient is change in probability when all other independent variables are held constant. The output is 93.3 which is due to the variation in labor hours. These variations are due to large number of furniture moved in cubic feet.

Ames Trading Co. has the following products in its ending inventory.Product Quantity Cost per Unit Market per UnitMountain bikes 11 $600 $550Skateboards 13 $350 $425Gliders 26 $800 $700Compute lower of cost or market for inventory applied separately to each product.

Answers

Answer:

Mountain Bikes

Market value is $550 and cost is $600.

Lower is market.

Inventory value is therefore:

= Quantity * Market

= 11 * 550

= $6,050

Skateboards

Market value is $425 and cost is $350.

Cost is lower.

Inventory value is:

= 13 * 350 cost

= $4,550

Gliders

Market value is $700 and cost is $800.

Inventory value is:

= 26 * 700 market value

= $18,200

Analysis of a foreign subsidiary's financial statements denominated in Euro, its local currency, shows a growth rate in revenue of 16%. Suppose that during the year, the value of the Euro increased in terms U.S. dollars. The subsidiary's revenue growth rate expressed in U.S. dollars will be:

Answers

Answer:

The appropriate answer is "Greater than 16%".

Explanation:

Throughout this situation, the country's currency of companies has shown a 16 percent raise, which means that the sales of the subsidiaries would increase more than 16 percent whenever represented among Us dollars.As several currencies are increasing inside this valuation of the national currency, the transformation rate is greater than 16% as that the incidence increases.

In the world oil market, oil is supplied up to the point where: Select one: A. the marginal cost of the last barrel is at a maximum B. the marginal cost of the last barrel is the greatest distance from the price buyers are willing to pay for that last barrel C. the marginal cost of the last barrel is zero D. the marginal cost of the last barrel is just equal to the price buyers are willing to pay for that last barrel.

Answers

Answer:

D. the marginal cost of the last barrel is just equal to the price buyers are willing to pay for that last barrel.

Explanation:

In the case of the oil market that oil is to be supplied to the point where the marginal cost of the previous barrel should be equivalent to the price where the pruchaser want to pay for that previous barrel

So as per the given situation, the option d is correct

ANd, the rest of the options seems incorrect

Kohl Co. provides warranties for many of its products. The January 1, 2013, balance of the Estimated Warranty Liability account was $54,088. Based on an analysis of warranty claims during the past several years, this year's warranty provision was established at 0.60% of sales. During 2013, the actual cost of servicing products under warranty was $39,922, and sales were $2,149,100. Required: a. What amount of Warranty Expense will appear on Kohl Co.'s income statement for the year ended December 31, 2013

Answers

Answer: $12,894.60

Explanation:

Warranty expense for 2013 will be calculated as:

= Actual warranty expense * Estimated warranty expense %

Actual warranty expense = Sales because these are the products under warranty.

Warranty expense is therefore:

= 2,149,100 * 0.60%

= $12,894.60

All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT Multiple Choice inadequate resources. people are working on multiple projects and feel inefficient. frequent conflicts between managers. confused employees regarding which projects are more important. not enough projects within the portfolio to make a profit.

Answers

Answer:

All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT

not enough projects within the portfolio to make a profit.

Explanation:

Strategy disconnect does not support an organization to be consistent in its actions at every level.  However, where the strategy is shared across board, there is an integrated and coordinated attempt at long-term planning with the organization positioned to exceed the needs of its customers and to achieve success.  With strategy connect, the organization responds well to changes in its external environment and is able to allocate scarce resources for the improvement of its competitive position.

Describe the main procedures of running a successful meeting​

Answers

The Three Rules of Running a Meeting. Set the Agenda. ...

Control the Meeting, Not the Conversation. Let Them Speak. ...

Make Meetings Essential. Do a Meeting Audit.

Swift Motor Lines has a delivery truck that cost $11,000, and has $1,000 of accumulated depreciation. What is the fair market value of the truck

Answers

Answer: Information is not sufficient to answer.

Explanation:

The fair market value of a fixed asset is the current value in the market of the fixed asset. Given that we do not know the current market value as it is not given in the question, we are unable to answer this question.

If the question had asked to calculate the net book value then we would have simply subtracted the accumulated depreciation from the cost price but this is a fair market value question so its different.

Granfield Company is considering eliminating its backpack division, which reported an operating loss for the recent year of $42,200. The division sales for the year were $963,800 and the variable costs were $477,000. The fixed costs of the division were $529,000. If the backpack division is dropped, 40% of the fixed costs allocated to that division could be eliminated. The impact on Granfield's operating income for eliminating this business segment would be:__________.
a. $275,200 increase
b. $486,800 decrease
c. $211,600 increase
d. $275,200 decrease
e. $486,800 increase

Answers

Answer:

d. $275,200 decrease

Explanation:

Calculation to determine what The impact on Granfield's operating income for eliminating this business segment would be:

Using this formula

Impact on operating income =Saving in relevant fixed cost -loss of Contribution margin of backpack Division

Let plug in the formula

Impact on operating income=($529,000*40%)-($963,800-$477,000)

Impact on operating income=$211,600-$486800

Impact on operating income=$275,200 decrease

Therefore The impact on Granfield's operating income for eliminating this business segment would be:$275,200 decrease

The ABC Corporation makes collections on sales according to the following schedule: 45% in month of sale 50% in month following sale 5% in second month following sale The following sales have been budgeted: Sales April $ 160,000 May $ 180,000 June $ 170,000 Budgeted cash collections in June would be:

Answers

Answer: $170500

Explanation:

Based on the information given in the question, the budgeted cash collections in June would be calculated thus:

= (45% × $160000) + (50% × $180000) + (5% × $170000)

= $72000 + $90000 + $8500

= $170500

Therefore, the budgeted cash collections in June would be $170500

Marion is a great manager and he has a number of special skills. In particular, Marion has the ability to get his subordinates to do more than would be normally expected. Which of the following terms best describes Marion?
a. Transactional leader
b. Supportive leader
c. Charismatic leader
d. People-oriented leader

Answers

Answer: c. Charismatic leader

Explanation:

Charismatic leaders are people who are capable of motivating other people by using their great interpersonal and communication skills, ability to charm others and the ease with which they can persuade people.

When they motivate others, those people are willing to do more than they normally do in relation to what they were being motivated for. In this case, Marion is therefore a charismatic leader as he is able to get employees to do more than they normally do.

How does marketing satisfy your needs as a college student? Are certain aspects of your life influenced more heavily by marketing than others? Provide examples

Answers

Yea dude’s iiiiiiiiiiiiiiiiiiiiiiii

On January 1, 20Y2, Hebron Company issued a $175,000, five-year, 8% installment note to Ventsam Bank. The note requires annual payments of $43,830, beginning on December 31, 20Y2.Journalize the entries to record the following:

Answers

Answer and Explanation:

The journal entries are shown below:

1. Cash Dr $175,000

     To note payable $175,000

(being note payable is issued)

2. Interest expense Dr (8% of $175,000) $14,000

        To interest payable $14,000

(being interest expense is recorded)

3. Interest payable $14,000

Note payable $29,830

       To cash $43,830

(being cash paid is recorded)

4. Interest expense $6,253

          To interest payable $6,253

(being interest expense is recorded)

5.  Interest payable $6,253

Note payable $37,577

       To cash $43,830

(being cash paid is recorded)

What are the challenges that Vietnamese Businesses Face Due to Warehouse Locations in Industrial Parks

Answers

The challenges that Vietnamese businesses have to face or facing due to the warehouse locations are described below. Firstly we have to describe the warehouse locations.

The Warehouse locations in Industrial parks:

Vietnam has designated and developed several office buildings as well as regions throughout order to attract foreign investors. Vietnam's development projects are located throughout the kingdom's northwestern part.

Warehouse placement across the industrial parks presents several challenges such as:

As of now, the coordinating structure has always been in the creation stage. Supplementary time is required for coordinates.It seems to have a direct influence on either the accumulation as well as transportation, and perhaps even the expense of the action itself.

Learn more about Vietnamese businesses here:

https://brainly.com/question/11337644

which of the following would be included in the set of electrical plans for individual residence?

A. Individual romex cables
B. Power panels to be installed
C. routes of cables
D. Wire sizes

Answers

Answer:

A. Individual romex cables

Explanation:

Individual romex cables would be included in the set of electrical plans for individual residence.

This is because they are a non-metallic sheathed cables, and they are flexible electrical cables which are popularly used in residential setups.

This cable comes with two insulated wires that include a ground copper wire that ensures safe passage of electrical current in case of any unfortunate event.

The following information is available for Ethtridge Manufacturing Company for the month ending July 31:

Cost of direct materials used in production $147,700
Direct labor 177,200
Work in process inventory, July 1 66,500
Work in process inventory, July 31 90,100
Total factory overhead 81,200

Required:
Determine Ethtridge's cost of goods manufactured for the month ended July 31.

Answers

Answer:

the cost of goods manufactured is $382,500

Explanation:

The computation of the cost of goods manufactured is shown below:

Cost of direct materials used in production $147,700

Direct labor 177,200

Work in process inventory, July 1 66,500

Total factory overhead 81,200

Less:

Work in process inventory, July 31 90,100

Cost of goods manufactured $382,500

Hence, the cost of goods manufactured is $382,500

At the beginning of the year, your company borrows $33,600 by signing a six-year promissory note that states an annual interest rate of 9% plus principal repayments of $5,600 each year. Interest is paid at the end of the second and fourth quarters, whereas principal payments are due at the end of each year. How does this new promissory note affect the current and non-current liability amounts reported on the classified balance sheet prepared at the end of the first quarter

Answers

Answer:

Current liabilities Increase by $6356

Non-current liabilities Increase by $27,244

Explanation:

Calculation to determine How does this new promissory note affect the current and non-current liability amounts reported on the classified balance sheet prepared at the end of the first quarter

First step is calculate the Interest Payable using this formula

Interest Payable = Principal × Interest rate × Time

Let plug in the formula

Interest Payable= $33600 × 0.09 × 3/12

Interest Payable= $756

Now let determine the current and non-current liability amounts

Current liabilities = Interest payable + Current portion of long-term debt

Current liabilities= $756 + $5600

Current liabilities= $6356

Non-current liability = Amount of promissory note - Current portion of long-term debt

Non-current liability= $33600 - $6356

Non-current liability= $27,244

Therefore How does this new promissory note affect the current and non-current liability amounts reported on the classified balance sheet prepared at the end of the first quarter is:

Current liabilities Increase by $6356

Non-current liabilities Increase by $27,244

Along any downward sloping straight-line demand curve: Group of answer choices both the price elasticity and slope are constant. both the price elasticity and slope vary. the price elasticity varies, but the slope is constant. the slope varies, but the price elasticity is constant.

Answers

Answer:

the price elasticity varies, but the slope is constant

Explanation:

The demand curve is a curve that shows the relationship between price and quantity demanded. The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

At the midpoint of the demand curve, demand is usually unit elastic. Above the midpoint of the demand curve, demand is elastic and blow the midpoint, demand is inelastic

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price  

Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price  

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.  

Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases  

Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.

A(n) ______ is a network that links the intranets of business partners via the Internet in such a way that the result is a virtually private network.a. intranet b. browser c. extranet

Answers

Answer:

c. extranet

Explanation:

The controlled, and the private network that permits the third-party partners in order to received the information that related to the particualr company and also it can be done without any access for an overall network of an organization

So as per the given situation, it is an extranet

Hence, the same is to be considered

Gerardo wants to develop an Internet-based auction business and is working through the STP process. After establishing his objectives, describing potential market segments, and evaluating the attractiveness of each segment, Gerardo now has to

Answers

Answer:

select a target market.

Explanation:

As we know that STP means segmenting, targeting and positioning.

Since the marget segmentation is conducted via allocating the market into different kind of segments that depend upon the same kind of needs so here the next step to choose the target market in which the suitable market segment should be selected that depend upon the evaluation process

non-employees are allowed in the store before the store opens and after closing time

Answers

the answer is false

Answer:

the answer is also no

Explanation:

this is because they do not work there and have no business there

These are selected account balances on December 31, 2020. Land (location of the office building) $97000 Land (held for future use) 152000 Corporate Office Building 675000 Inventory 182000 Equipment 457000 Office Furniture 135000 Accumulated Depreciation 427000 What is the total net amount of property, plant, and equipment that will appear on the balance sheet

Answers

Answer:

$937,000

Explanation:

Calculation to determine the total net amount of property, plant, and equipment that will appear on the balance sheet

Land (location of the office building) $97000

Add Office Building 675000

Add Equipment 457000

Add Office Furniture 135000

Less Accumulated Depreciation (427000 )

Total Net Amount $937,000

Therefore the total net amount of property, plant, and equipment that will appear on the balance sheet is $937,000

You are buying a laptop and there is two payment plans to consider. Payment plan A is to pay $4,900 now and payment plan B is to pay $500 now and pay $210.30 per month for 30 months. Using an interest of 24%, which payment plan do you choose

Answers

Answer: Plan A has a lower present value and should be chosen.

Explanation:

Choose the one that has the lower present value because that means that it would be cheaper.

Present value of plan A = $4,900

Present value of plan B

= $500 + Present value of $210.30 per month for 30 months

$210.30 is constant so it is an annuity.

Periodic interest rate = 24%/12 = 2%

Present value of annuity = Annuity *  ( 1 - (1 + rate)^-number of periods) / rate

= 210.30 *  ( 1 - (1 + 2%)⁻³⁰) / 2%

= $4,709.97

Present value of plan B = 500 + 4,709.97

= $5,209.97

Choose Plan A because it has a lower present value.

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