Elba Division of Haimes Industries manufactures product # 54B89. Three-fourths of the production is transferred to the Crete Division of Haimes Industries; the remainder is sold externally for $67 per unit. The following information is available about product #54B89: Total production annually Variable production costs Variable selling costs (includes $4 per unit in advertising cost) Fixed overhead (allocated on the basis of units of production) $2,160,000 Fixed selling costs $2,880,000 1,200,000 units $40 $16 Determine the transfer price under each of the following methods: (1) total variable cost $ (2) full production cost $ (3) total variable production cost plus allocated fixed selling costs $ (4) market price $ 56 per unit 48 x per unit 48 x per unit 67 per unit

Q: Classify the Costs for Financial Statements?

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: What are the measure of outputs in accounting?

A: The objective of this question is to understand the various measures of outputs in the field of…

Q: what the difference between accounting income and economic income?

A: Accounting income can be defined as an estimate of the performance in the operations of the company.…

Q: Required information Skip to question [The following information applies to the questions displayed…

A: Segment reporting breaks down the operations of a company into manageable pieces, or segments.…

Q: Distinguish between Income and Expenditure Account and Receiptand Payment Account.

A: Difference between income and expenditure account and receipt and payment account:

Q: Define Proprietorship

A: A form of an organization where a single person is the owner and controller of the business is known…

Q: Definitions of Common Income and Expense Items

A: Common Income can have following definitions: Common income is the excess of revenue over costs for…