Data concerning Sonderegger Company's operations last year appear below: Selling price Units in beginning inventory Units...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Data concerning Sonderegger Company's operations last year appear below: Selling price Units in beginning inventory Units produced Units sold Selling price per unit Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $110 e 70,000 60,000 $12.00 $2.00 $1.00 $1.00 $1.50 $140,000 $150,000 Required: a) Prepare an uncome statement for the year using absorption costing. b) Prepare an income statement for the year using variable costing. c) Prepare a report reconciling the difference in operating income between absorption and variable costing for the year. Data concerning Sonderegger Company's operations last year appear below: Selling price Units in beginning inventory Units produced Units sold Selling price per unit Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $110 e 70,000 60,000 $12.00 $2.00 $1.00 $1.00 $1.50 $140,000 $150,000 Required: a) Prepare an uncome statement for the year using absorption costing. b) Prepare an income statement for the year using variable costing. c) Prepare a report reconciling the difference in operating income between absorption and variable costing for the year.
Expert Answer:
Answer rating: 100% (QA)
Income Statement as per Absorption Costing Sales60000 units110 LessCost of goods sold Open... View the full answer
Related Book For
Managerial Accounting for Managers
ISBN: 978-1259578540
4th edition
Authors: Eric Noreen, Peter Brewer, Ray Garrison
Posted Date:
Students also viewed these general management questions
-
As volume increases, per unit variable costs will decrease on a per-unit basis and stay the same in total. Indicate whether the statement is true or false.
-
Jackson Company had 200 units in beginning inventory at a cost of $24 each. Jacksons 2009 purchases were: Date Purchases_______ Feb. 21........6,200 units at $28 each July 15........5,500 units at...
-
Jones Company had 100 units in beginning inventory at a total cost of $10,000.The company purchased 200 units at a total cost of $26,000. At the end of the year, Jones had 80 units in ending...
-
Jillian operates a sporting goods store in a rented location at a shopping mall. She is insured under a CGL policy with the following limits: Indicate the dollar amount, if any, that Jillians insurer...
-
What do you need to do after an interview?
-
Consider a plastic cup full of water. (a) Is the water exerting a force on the bottom of the cup? (b) On the sides of the cup? (c) Is the water pressure negative, zero, or positive?
-
Fill in the Blanks. The finite difference approximations are based on ___________ series expansion.
-
This exercise uses the same fact setting as Exercise 11-9 except that items 1 and 2 are changed to be consistent with a private institution. The Great Lakes Maritime Institute is a private...
-
A thin, metallic, spherical shell of radius 23.7 cm has a total charge of 8.03 C placed on it. A point charge of 2.65 C is placed at the center of the shell. What is the electric field E at a...
-
The Precision Machining Company makes hand-held tools on an assembly line that produces one product every minute. On one of the products, the critical quality dimension is the diameter (measured in...
-
Imagine you are a merited student and your previous record of studies were great. recently you have moved from a big city to a small town and with very less population and your migration to the new...
-
Using the information that you have retrieved through your study of the articles and videos in Module 1, plus your own experience, post your response to the following question: What are two...
-
'Draw the flowchart for the following program clear clc x=input('x='); y=input('y=') a=abs(x*y) if a <10 disp('small area') else disp('larg area') end c=2*(x+y)
-
Camille also wants to summarize the number of discounted products by product type and calculate their total and average discounted prices. In cell K2, enter a formula using the COUNTIF function that...
-
3. For each of the following, calculate the cost of goods sold and the gross profit. Sales Beginning Inventory Purchases Ending Inventory 1. $125 000 32 000 74 250 33 500 2345 2. $750 585 85 600 410...
-
A company has two bonds outstanding, both with semiannual coupons. The first one has a coupon rate of 3%, a maturity of 15 years and a YTM of 9%. 39,000 of these bonds are outstanding. The second...
-
1) Type a statement that gets an input value into variable numUsers. Assume scnr already exists and numUsers has been declared.
-
The Ranch 888 Noodle Company sells two types of dried noodles:ramen, at $6.50 per box, and chow fun, at $7.70 per box. So farthis year, the company has sold a total of 110,096 boxes ofnoodles,...
-
Morrow Corporation had only one job in process during May-Job X32Z-and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear...
-
The Excel worksheet form that follows is to be used to recreate the Review Problem related to Medical Diagnostics, Inc. Download the workbook containing this from Connect. On the website you will...
-
Hi-Tek Manufacturing Inc. makes two types of industrial component parts-the B300 and the T500. An absorption costing income statement for the most recent period is shown below: Hi-Tek Manufacturing...
-
Make a sketch showing the directions of the magnetic forces exerted on each other by (a) an electron moving in the same direction as the current through a wire, (b) a moving charged particle and a...
-
What is the direction of the magnetic field at a point vertically (a) above (b) below segment 1 in Figure 28.5? Figure 28.5 Mapping the magnetic field of a current loop. The magnetic field...
-
As the current loop in Figure 28.10 rotates over the first \(90^{\circ}\), do the magnitudes of (a) the magnetic force exerted on the horizontal sides and (b) the torque caused by these forces...
Study smarter with the SolutionInn App