The following data relate to Santa Mia, Incorporated, a new company: Planned and actual production 200,000 units

Fantastic news! We've Found the answer you've been seeking!

Question:

The following data relate to Santa Mia, Incorporated, a new company: Planned and actual production 200,000 units Sales at $48 per unit 170,000 units Manufacturing costs: Variable $18 per units Fixed $ 840,000 Selling and administrative costs: Variable $7 per units Fixed $ 925,000 There were no variances during the period.

Required:

A. Determine the number of units in the ending finished-goods inventory.

B. Calculate the cost of the ending finished-goods inventory under (1) variable costing and (2) absorption costing.

C. Determine the company's variable-costing income. D. Determine the company's absorption-costing income.

Posted Date: May 18, 2024 01:01 PM

See More Questions

One major concern about the future is that water scarcity will grow, particularly in arid regions where precipitation levels may be reduced by climate change. Will our institutions provide for an...
Cisco Systems, Inc. (CSCO), manufactures and sells networking and communications equipment for transporting data, voice, and video and provides services related to that equipment Its products include...
A bridged-T network is often used in AC control systems as a filter network [8]. The circuit of one bridged-T network is shown in Figure P2.8. Show that the transfer function of the network is Sketch...
The Camelback Cement Company made the following expenditures relating to its plant and equipment: 1. Overhauled several machines at an aggregate cost of $$175,000$ to improve the efficiency of the...
1. Using the center-of-gravity model compute the center of gravity for the population of the county? Show all computations, explain, and justify. 2. Using a weighted scoring model of your own design...
The Modern Furniture Co. submits the following information on 31st March 1997 Sales for the year Inventories at the beginning of the year : Raw material Finished goods Work in progress 3,000 7,000...
Given the augmented matrix perform each row operation in the order specified and enter the final result, First-AR + R Second 3R + R Third 2R + R R. Rs. R 40 I 5 2 A 1
What role does strategic foresight play in the formulation and execution of change interventions, and how do advanced predictive analytics, scenario planning, and trend analysis inform the strategic...
Moore Inc. has cost pools with budgeted information for 2020 as follows: Cost Pools Maintenance Overhead Costs Costs Drivers Level $ 60.000 Machine hours 30.000 Materials handling 45.000 Number of...
You run a firm focused on convenience stores that is considering entry into the frozen food market.This is a billion dollar market (in annual sales) of which you believe you can capture market share...
S Co. is a manufacturing concern using the perpetual inventory system The following materials inventory account data is provided: Beginning balance Other debits to the account Excess of ending...
As a rule, potential outcomes of a random variable in a decision tree are represented by terminal positions decision nodes terminal positions with branches chance nodes branches
(i) Define a buffer and explain how buffers work (ii) Give examples of indicators and how they work, Construct a galvanic cell for the reaction Zn + Cu+ Zn+ + Cu. Identify the anode and the cathode....
The Home Depot is the leading retailer in the home improvement industry and one of the 10largest retailers in the United States. The company included the following on its January 29, 2012, balance...
Kitch Corporation has 50,000 shares of $\$ 5$ par value common stock outstanding and retained earnings of $\$ 820,000$. The company declares a 100 percent stock dividend. The market price at the...
The stockholders' equity accounts of Willis Corporation at January 1 appear below: During the year, the following transactions occurred: Jan. 10 Issued 35,000 shares of common stock for $\$ 18$...
The stockholders' equity of Peak Corporation at January 1 follows: The following transactions, among others, occurred during the year: Jan. 12 Announced a 4-for-1 common stock split, reducing the par...

The following data relate to Santa Mia, Incorporated, a new company: Planned and actual production 200,000 units

Question:

Expert Answer:

Students also viewed these accounting questions