Information supplied by a company for the month of June 2022 is as follows: For June...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Information supplied by a company for the month of June 2022 is as follows: For June 2022 Opening inventory in units 40 Manufactured in units 100 Sold in units 140 Selling price per unit R100 Variable cost per unit Manufacturing R30 Selling and administrative costs R5 Total June Fixed costs 2022 Manufacturing R4 000 Selling and administrative costs R1 200 Required: Show all calculations. 2.1. Valuate the inventory cost per unit according to the absorption costing (3) method. 2.2. Prepare a statement of profit or loss for June 2022 using the absorption (11) costing method. 2.3. Valuate the inventory cost per unit according to the variable costing method. (1) 2.4. Prepare a statement of profit or loss for June 2022 using the variable (12) costing method. Information supplied by a company for the month of June 2022 is as follows: For June 2022 Opening inventory in units 40 Manufactured in units 100 Sold in units 140 Selling price per unit R100 Variable cost per unit Manufacturing R30 Selling and administrative costs R5 Total June Fixed costs 2022 Manufacturing R4 000 Selling and administrative costs R1 200 Required: Show all calculations. 2.1. Valuate the inventory cost per unit according to the absorption costing (3) method. 2.2. Prepare a statement of profit or loss for June 2022 using the absorption (11) costing method. 2.3. Valuate the inventory cost per unit according to the variable costing method. (1) 2.4. Prepare a statement of profit or loss for June 2022 using the variable (12) costing method.
Expert Answer:
Answer rating: 100% (QA)
Answer Explanation First of all we should understand some basic difference between variable and ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The transactions for Grinko, Inc., for the month of June 2012 have been posted to the accounts as follows: Requirements 1. Prepare the journal entries that served as the sources for the six...
-
Transactions for Marlin Company for the month of June are presented below. Identify the accounts to be debited and credited for each transaction. June 1 Issues common stock to investors in exchange...
-
The income statement of a corporation for the month of June indicates a net income of $150,000. During the same period, $180,000 in cash dividends were paid. Would it be correct to say that the...
-
Evaluate Lim- X-0 b) Evaluate Lim t-1 4 3 10x3-8x4+2x3 c) Evaluate Lim 2 2 15x4+3x3-5x 2t +21 +5t+5 t+t-71-7 -4 5m +4m +18m m 6m + 4m-6 If lim [x -f(x)] = 2, use the Rules of Limits to evaluate...
-
Bob has $2,500 invested in a bank that pays 1% annually. How long will it take for his funds to double? a. 74.54 years b. 79.41 years c. 73.14 years d. 69.66 years e. 84.99 years
-
Lincrat Corp. reports a current ratio of 3- to- 1 in its 20X2 financial statements. The statement of financial position shows current assets of $ 3,116,500 and current liabilities of $ 1,040,100....
-
An investor is considering investing in the long-term bonds and common stock of Companies M and N. Both firms operate in the same industry. Both also pay a dividend per share of $8 and have a yield...
-
Saddleback Company makes camping lanterns using a single production process. All direct materials are added at the beginning of the manufacturing process. Information for the month of March follows:...
-
Determine whether the following series converges or diverges. 20 2 (5n - 3)(5n + 2) n=1 Select the correct choice below and ll in the answer box(es) to complete your choice. '31:? A- This is a...
-
Analysis of famous case study - Godiva Chocolatier and Godiva Gems This paper answers the following questions on the case study - 1) Define the product offered by Godiva. Identify the different...
-
The following table lists the components needed to assemble an end item, lead times (in weeks), and quantities on hand. Amount Item Lead Time on Hand Direct Components End LCKE SCH 3 B G mm 4 4 3 442...
-
Zion has a rectangular commercial block with 13 offices lined inside, one after the other in a single row. Morpheus works in the 11th office. The only way to enter the office block is from the main...
-
Calculate the theoretical acceleration when the mass is constant, and the net force is changed. Record the calculations in the data table on the Student Response Sheet. The acceleration is the ratio...
-
Paul Smith is considering replacing Jones & Smith's present dishwasher with a new energyefficient model. Although the old dishwasher has a present book value of $1,000, its current market value is...
-
Find the derivative of the function. 54 s(t) = 47 (5t-9)
-
If Charles retired two years early the company would have to pay an extra20,000 lump sum into the pension scheme The building housing the IT department was on a three-year lease and the company was...
-
HU14 PMGT 540 Individual-Optimized and Baseline Project Schedule KA2 75%3 Due Nov 19 by 11:59pm Points 200 Submitting a file upload Complete your detailed schedule and budget: Develop your plan to exe
-
Prove that the mean heat capacities C P H and C P S are inherently positive, whether T > T 0 or T < T 0 . Explain why they are well defined for T = T 0 .
-
Tri State Communications has the following stockholders equity: Requirement 1. Assume the preferred stock is cumulative. Compute the amount of dividends to preferred and common shareholders for 201 2...
-
On January 31, 2012, the Accounts Receivable balance of Advanced Automotive Technology is $270,000. The Allowance for Uncollectible Accounts has a $4,100 credit balance. Advanced Automotive...
-
Journalize the following transactions of Baltic, Inc., which ends its accounting year on September 30: May 1 Loaned $16,000 cash to Steve Franklin on a one-year, 6% note. Sep 17 Sold goods to...
-
What organizational enablers will best assist in creating a climate for change in a company?
-
Name some potential disruptive innovations in healthcare. Why might they be disruptive?
-
What other factors discussed in the chapter could Coye implement to enable greater creativity and innovation? UCLA Health, the healthcare system of the University of California at Los Angeles, had...
Study smarter with the SolutionInn App