If production is greater than sales, how does absorption costing net income differ from variable costing net
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
If production is greater than sales absorption costing ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Accounting Tools for business decision making
ISBN: 978-0470095461
4th Edition
Authors: kimmel, weygandt, kieso
Question Posted:
Students also viewed these Managerial Accounting questions
-
How does absorption costing differ from variable costing? When will absorption costing operating income exceed variable-costing operating income?
-
How does absorption costing differ from variable costing in cost accumulation and income statement presentation?
-
Assume that the marginal cost of production is greater than the average variable cost. Can you determine whether the average variable cost is increasing or decreasing? Explain.
-
Ancient Indians did not believe in war and violence when it came it an expansion of political territory but relied on peaceful negotiation and strategy. Please explain your views on this quote with...
-
Solich Sandwich Shop had the following long-term asset balances as of December 31, 2012: Solich purchased all the assets at the beginning of 2010 (3 years ago). The building is depreciated over a...
-
As the issue of global climate change comes to the fore in international discussions, and as countries attempt to find solutions for climate change, attention frequently turns to the Kyoto Protocol....
-
List and discuss the major information security and privacy threats to organizations.
-
For the following project, 3 sections are expected every week. Each week is 5 working days with 8 hours a day. Find the value of X1? Find the value of X2? Find the value of X3? Find the value of X4?...
-
5. For what value of the c is the function continuous everywhere? (a-1) x>2 f(x)= cx-1 if x2
-
Consider the AIRLINE relational database schema shown in Figure 3.8, which describes a database for airline flight information. Each FLIGHT is identified by a flight NUMBER, and consists of one or...
-
If production equals sales, what, if any, is the difference between net income under absorption costing versus under variable costing?
-
In the long run, will net income be higher or lower under variable costing compared to absorption costing?
-
In addition to a $2163 refund of her income tax overpayment, the Canada Revenue Agency (CRA) paid Raisa $13.36 of interest on the overpayment. If the simple interest rate paid by the CRA was 5.5%,...
-
Craig began trading on 1 August 2019 and has the following results: (a) Compute Craig's trading income for 2019-20 to 2021-22. (b) Explain the trading loss reliefs available to Craig. Which would you...
-
Omega Arts is a manufacturer of designer vases. The cost of each vase is the sum of three variable costs (direct material costs, direct manufacturing labor costs, and manufacturing overhead costs)...
-
Omega Arts allocates fixed manufacturing overhead to each vase using budgeted direct manufacturing labor-hours per vase.Data pertaining to fixed manufacturing overhead costs for June 2017, are...
-
Interview a paralegal, attorney, or legal secretary who has been involved in divorce actions in your state. a. Approximately how many divorce cases have you worked on? b. How many of them have been...
-
Each of the following statements is correct regarding overhead variances except: a. Actual overhead greater than applied overhead is unfavorable. b. The efficiency overhead variance ignores the...
-
What do you understand union compatibility of relations? For which operations such compatibility is required and why?
-
Explain what is meant by vicarious liability and when it is available?
-
The following questions relate to magma of composition y in Figure 8.15(B). Figure 8.15(B). a) What mineral first crystallizes from this magma? b) When the magma first arrives at the cotectic, what...
-
Alma Ortiz does not understand why the overhead volume variance indicates that fixed overhead costs are under- or overapplied. Clarify this matter for Alma.
-
Alma Ortiz does not understand why the overhead volume variance indicates that fixed overhead costs are under- or overapplied. Clarify this matter for Alma.
-
John Hsu is attempting to outline the important points about overhead variances on a class examination. List four points that John should include in his outline.
-
Hall & Company issues $ 1 0 0 , 0 0 0 , 0 0 0 in 6 % bonds with detachable warrants of 1 0 warrants for each $ 1 , 0 0 0 bond. The bonds are issued at 9 9 . Record the issuance under the following...
-
Assume that hein acquired Dolan Development last year. Hein recorded the following intangible assets on the date of acquisition: Goodwill: $ 1 , 5 0 0 , 0 0 0 Dolan Development trademark: $ 6 0 0 , 0...
-
What is the total amount of interest that will be paid of the loan is carried to term with no extra payments made building cost 3 3 0 0 0 0 . loan started im Dec 2 0 2 3 worh a 7 . 5 % interest rate...
Study smarter with the SolutionInn App