Preparing variable costing income statements, production exceeds sales
ReVitalAde produced 13,000 cases of powdered drink mix and sold 12,000 cases in April 2018. The sales price was $29, variable costs were $12 per case ($9 manufacturing and $3 selling and administrative), and total fixed costs were $100,000 ($91,000 manufacturing overhead and $9,000 selling and administrative). The company had no beginning Finished Goods Inventory.
Requirements
(1) Prepare the April income statement using variable costing.
(2) Determine the product cost per unit
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Preparing variable costing income statements, production exceeds sales ReVitalAde produced 13,000 cases of powdered drink mix and sold ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Say you have a health insurance policy with a $250 deductible, an 80/20 coinsurance with a $5,000 cap on co-insurance payments you have to make per year, and a $250,000 policy limit.
Answers (1)
Where did the framers meet to draft the constitution
Answers (1)
Billy-Bob owns a condo in Seattle, and a farm in Yakima. His older brother, Bobby-Lee, has some severe health problems and is unable to work anymore, and just has Social Security Disability income of about $800/month.
Answers (1)
Yoana is an online women's magazine that features an animated ad for Carmen's Cosmetics on its website. If a visitor clicks on the ad, it will take the visitor directly to Carmen's website. This ad is an example of a (n) A. interstitial. B. banner.
Answers (1)
Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example.
Answers (1)
New Questions in Business
Match the business with the appropriate cost system (s) for that business using the number of the cost system where 1 = job order costing, 2 = process costing, and 3 = activity-based costing. a. Ketcher, Tryer, and Friar, attorneys-at-law b.
Answers (1)
Solemon Company has total fixed cost of $15,000, variable cost per unit of $6, and a price of $8. If Solemon wants to earn a targeted profit of $3,600, how many units must be sold?
Answers (1)
Using the following information, what is the amount of net income? Purchases $ 33,189 Selling expenses $ 758 Merchandise inventory, September 1 7,436 Merchandise inventory, September 30 8,978 Administrative expenses 760 Sales 51,684 Rent revenue 832
Answers (1)
You are managing a project and need to cut the cost of the project. You decide to transfer workers to another job to cut the project's costs. Costs associated with transferring the workers are an example of project indirect costs. O True O False
Answers (1)
K Inc. has provided the following data for the month of May: Inventories: Beginning Ending Work in process $ 17,000 $ 12,000 Finished goods $ 46,000 $ 50,000 Additional information: Direct materials $ 57,000 Direct labor cost $ 87,000 Manufacturing
Answers (1)