Crane Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6 months of 2022, the company reported the following operating results while operating at 80% of plant capacity and producing 120,100 units. Sales Cost of goods sold Selling and administrative expenses Net income Amount $4,804,000 3,484.502 448.773 $870,725 Fixed costs for the period were cost of goods sold $960.000, and selling and administrative expenses $241,000 In July, normally a slack manufacturing month, Crane receives a special order for 10,000 basketballs at $28 each from the Greek Basketball Association (GBA) Acceptance of the order would increase variable selling and administrative expenses $0.77 per unit because of shipping costs but would not increase fixed costs and expenses.

Crane Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6 months of 2022, the company reported the following operating results while operating at 80% of plant capacity and producing 120,100 units. Sales Cost of goods sold Selling and administrative expenses Net income Amount $4,804,000 3,484.502 448.773 $870,725 Fixed costs for the period were cost of goods sold $960.000, and selling and administrative expenses $241,000 In July, normally a slack manufacturing month, Crane receives a special order for 10,000 basketballs at $28 each from the Greek Basketball Association (GBA) Acceptance of the order would increase variable selling and administrative expenses $0.77 per unit because of shipping costs but would not increase fixed costs and expenses.

Name: Crane Inc. manufactures basketballs for the Women's National Basketba
Uploaded: 2024-03-20T06:33:06.000Z
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Description: Crane Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6 months of 2022, thecompany reported the following operating results while operating at 80% of plant capacity and producing 120,100 units.▸Sal

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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