ABC Manufacturing produces metal lampposts. The company's income statements for the lasttwo years are given below. The company has no beginning or ending inventories.Last year60,000This year85,000$2,040,000Units soldSales$1,440,000Less cost ofgoods soldGross marginLess operatingexpenses785,0001,060,000655,000980,000237,000312,000Net income$418.000$668.000Using the high/low method, determine the company's total variable cost perunit.O $15.50 per unitO $12 per unitO $11.75 per unitO $14 per unit

Name: ABC Manufacturing produces metal lampposts. The company's income stat
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Description: ABC Manufacturing produces metal lampposts. The company's income statements for the lasttwo years are given below. The company has no beginning or ending inventories.Last year60,000This year85,000$2,040,000Units soldSales$1,440,000Less cost ofgoods

>Mixed Cost is a cost that has the features of BOTH - Variable cost as well as Fixed Cost.…

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ABC Manufacturing produces metal lampposts. The company's income statements for the last two years are given below. The company has no beginning or ending inventories. Last year 60,000 $1,440,000| This year Units sold Sales 85,000 $2,040,000 Less cost of goods sold 785,000 1,060,000 Gross margin Less operating expenses Net income Using the high/low method, determine the company's total variable cost per 980,000 312,000 $668.000 655,000| 237,000 $418.000 unit. $15.50 per unit $12 per unit $11.75 per unit O $14 per unit

ABC Manufacturing produces metal lampposts. The company's income statements for the last two years are given below. The company has no beginning or ending inventories. Last year 60,000 $1,440,000| This year Units sold Sales 85,000 $2,040,000 Less cost of goods sold 785,000 1,060,000 Gross margin Less operating expenses Net income Using the high/low method, determine the company's total variable cost per 980,000 312,000 $668.000 655,000| 237,000 $418.000 unit. $15.50 per unit $12 per unit $11.75 per unit O $14 per unit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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ABC Manufacturing produces metal lampposts. The company's income statements for the last two years are given below. The company has no beginning or ending inventories. Last Year This YearUnits sold. 60,000 85,000Sales. 1,440,000. 2,040,000Less cost of goods sold. 785,000 1,060,000 Gross margin 655,000 980,000Less operating expenses. 237,000 312,000Net income 418,000. 668,000 Determine the company's total fixed costs. a) 182,000b) 125,000c) 205,700d) 162,500
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