2021 2022 Units produced 60,000 50,000 Units sold 54,000 54,000 Selling price per unit Variable costs per unit $250 $250 Direct materials $80 $80 Direct labour 40 40 Variable overhead 35 35 Selling expenses Fixed manufacturing overhead Fixed selling and administrative expenses $ 300,000 $300,000 30 30 $2,500,000 $2,500,000 There was no beginning inventory on January 1, 2021. The company used the FIFO method to calculate the inventories. Ignore income taxes. Instructions a. Prepare income statements for 2021 and 2022 using the absorption-costing method.

2021 2022 Units produced 60,000 50,000 Units sold 54,000 54,000 Selling price per unit Variable costs per unit $250 $250 Direct materials $80 $80 Direct labour 40 40 Variable overhead 35 35 Selling expenses Fixed manufacturing overhead Fixed selling and administrative expenses $ 300,000 $300,000 30 30 $2,500,000 $2,500,000 There was no beginning inventory on January 1, 2021. The company used the FIFO method to calculate the inventories. Ignore income taxes. Instructions a. Prepare income statements for 2021 and 2022 using the absorption-costing method.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

the last one is showing wrong
R The cot of platioum to be purchaed to pport Augut protion is A SI9R00 B. S200,160 C S19S40 D. S391,680 E None of the anwers are comect
the last answer is incorrect, try again
Fans Company has two service departments-product design and engineering support, and two production departments - assembly and finishing. The distribution of each service department's efforts to the other departments is shown below: Design SERVICE DEPARTMENT Product Design 0% Engineering Support 20% The direct operating costs of the departments (including both variable and fixed costs) were as follows: Product Design Engineering Support Assembly Finishing Multiple Choice $1,863,265 SERVICES PROVIDED TO Support 10% 0% $623,878 $1,036,122 Assembly 30% 45% $100,000 $ 200,000 $540,000 $ 820,000 The total cost accumulated in the assembly department using the reciprocal method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar) Finishing 60% 35% D
You guys provided me an expert answer? Cuz the table for the part 1 of the p missing as well on volum PR what do i enter? and the part 2 has a table but c utilized.
Only braket values in the picture
Assume a world that meets all assumptions of the portfolio theory. In this world we solely trade in securities A and B like depicted in the graph below. Short selling is allowed. xA and XB indicate the proportions of security A and B within a portfolio respectively. P1, P2, P3 and P4 represent portfolios that can be created by trading (either long and/or short) in securhies A and B. P3 is the portfolio with the lowest risk; the risk of P3 is 0%. The risk of security A and B is measured by the standard deviation of the returns in the particular security and equals 20% for both. The correlation coefficient of the returns between A and B is -1. 40% P1 E(R) A 30% P2 20% P3 10% P4 ++ 30% 0% 10% 20% 40% O(R) Question: Indicate which statements are correct. Take into account that everything is possible, from all correct to all wrong.
Used this basic formula.
Req1-Req2 were incorrect. Can you try the problem again ?
how do you get the last part? (number 5)
What is float ? How float can be reduced mention any 6 to 10 ways