Kluber, Inc. had a net income of $908,000 based on variable costing. Beginning and ending inventories were 55,800 units and 53,600 units, respectively. Assume the fixed overhead per unit was $1.65 for both the beginning and ending inventory. What is net income under absorption costing?
Q: T-REX manufacturing had total manufacturing costs are $418,000
A: Explanation of Beginning Work-in-Process (WIP) Inventory:Beginning Work-in-Process (WIP) inventory…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Straight-Line DepreciationStraight-line depreciation is a method of allocating…
Q: Martha manufacturing produces a single product that sells for $90 answer this question
A: Step 1:Break even is the point at which cost and income are equal and there is neither profit nor…
Q: During its first year of operations, the McCormick Company incurred the following manufacturing…
A: Explanation of Variable Costing:Variable costing is a method of cost accounting where only variable…
Q: General Accounting Question
A: Step 1: Define Adjusted BasisThe change to the value of any asset or security recorded at the…
Q: What is cost of equity on these financial accounting question?
A: Step 1: Given Value for Calculation Risk free Rate = rf = 3%Market Return = rm = 11%Beta = b = 1.6…
Q: General Accounting
A:
Q: Answer accounting question
A: For this question we need to compute for the capital gains yield. Capital gains yield is the…
Q: Provide answer financial accounting
A: Step 1: Define Calculation of MarginsThe margin amounts are calculated by the respective exchanges…
Q: What are the total product costs for the company UNDER VARIABLE COSTING?
A: To calculate the total product costs under variable costing, we consider only the variable costs…
Q: Please solve this accounting problem not use ai
A: Step 1: Define Net Profit under Variable CostingUnder variable costing, fixed manufacturing overhead…
Q: Answer? ? General Accounting
A: Step 1: Define Predetermined Overhead RateThe Predetermined Overhead Rate is a rate used to…
Q: Equivalent units of production are used in process accounting to A) measure the efficiency of the…
A: The correct answer is:C) provide a means of assigning cost to partially completed units. Detailed…
Q: Quick answer of this accounting questions
A: Present Value of Perpetuity = Cash Flow/Interest Rate Present Value of Perpetuity = 2,500,000/3.3%…
Q: Subject:- General Account
A: Hope this helps
Q: General accounting question
A: Step 1: Introduction to ratio analysisRatio analysis is a method used to analyze financial…
Q: Need help with this question solution general accounting
A: Holding Return = [ (1+r)^n ] -1 = [ (1 + 5%) ^ 20 ] -1…
Q: Variable costing considers fixed manufacturing overhead costs as a(n) a. future cost b.…
A: The correct answer is:c. immediate expense ExplanationUnder variable costing, fixed manufacturing…
Q: What is your expected holding period return on Lydia's stock? General accounting
A: Step 1: Given Value for Calculation Initial Price per Share = $52Dividend per Share = $5.50Expected…
Q: Financial accounting
A: Step 1: Define Net IncomeThe net revenue earned on which taxes are paid after the business expenses…
Q: Don't use ai given answer accounting questions
A: Step 1: Define Return on Common Equity (ROCE)ROCE compares a company's income to the amount of…
Q: What was ferman corporations payout ratio for 2010 on these financial accounting question?
A: Step 1: Define Payout RatioThe ratio of the dividends paid during the year relative to the net…
Q: Provide correct answer
A: Bank Discount = Amount Due at Maturity*Discount Rate*TimeBank Discount = 18500*5.4%*(200/360)Bank…
Q: Solve this question financial accounting
A: Step 1: Define Payroll TaxesIn payroll taxes, employers act as collectors, and the employees are the…
Q: Provide correct solution this question
A: Steps and explanations are as follows:In case of any doubt, please let me know. Thank you.
Q: Subject: Financial Accounting
A: Concept of Activity-Based Costing (ABC):Activity-Based Costing is a method used to allocate costs to…
Q: Accurate Value Hardware began in 2019 with a credit balance of $47,000 in the allowance for sales…
A: Explanation of Net Sales: Net Sales is the amount of revenue a company generates from its sales…
Q: Jean Peck's Furniture's manufactures tables for.... Please answer the general accounting question
A: Step 1: Define Absorption CostingIn management accounting, absorption costing is a method that…
Q: Please provide this question solution general accounting
A: Step 1: Formula for net income with an increase Step 2: Substitute the given values Step 3: Perform…
Q: Answer do fast and step by step calculation with explanation for this general accounting question
A: Step 1: Define Accounts ReceivableThe companies with cash reserves can grab customers with their…
Q: I need this question answer general Accounting
A: Step 1: Define Payback PeriodThe payback period is the time required to recover a project's initial…
Q: Round your answers to the nearest cent
A: Step 1: Define Pre-determined Overhead RatePre-determined overhead rate is a rate used to compute…
Q: General Account Questions
A: Here's why:Variable Costs (VC): These are costs that change with the level of production. If a…
Q: None
A: To calculate Bicket, Inc.'s 2013 Return on Common Stockholders' Equity (ROE), we use the…
Q: Colson Manufacturing uses a job order costing system. During one month, Colson purchased $188,000 of…
A: Explanation of Total Manufacturing Costs: Total Manufacturing Costs represent the combined expenses…
Q: How much net income did the partnership earn in that period?
A: Step 1: Define Net incomeIt's the amount of money left to the business after the incurrence of all…
Q: Problem for cost account
A: Step 1: Understand the Accounting EquationThe accounting equation is the foundation of financial…
Q: Selected information for 2017 is: please provide answer the financial accounting question
A: Step 1: Define Inventory Turnover RatioThe inventory turnover ratio is used to measure the company's…
Q: A business purchases equipment for $25,000, paying $6,000 in cash and signing a note payable for the…
A: Concept of Total Cost:The total cost refers to the complete monetary value of an asset, including…
Q: General Account Questions
A: Step 1: Treatment of each itemGross income is taxable after deduction is allowed for business…
Q: A company recorded $4,900 of depreciation on its factory building. Prepare the general journal entry…
A: Explanation of Depreciation Expense:Depreciation Expense represents the allocation of the cost of a…
Q: Please given correct answer general Accounting
A: Step 1: Define Discount NoteDiscount notes are debt financial securities. They are issued at a…
Q: Winter company has provided solution general accounting question
A: Step 1: Definition of Contribution Margin RatioThe contribution margin ratio is a financial metric…
Q: Hii expert please provide correct answer general Accounting
A: Step 1: Define Holding Period Return (HPR)The holding period return (HPR) is a percentage metric to…
Q: Net Sales of ___.
A: Explanation of Net Sales:Net sales represent the total revenue a company earns from its sales…
Q: In accounting, depreciation is a method of allocating the cost of a(n): (a) Long-term asset (b)…
A: Concept of Depreciation: Depreciation is an accounting method used to allocate the cost of a…
Q: A firm sells 2,800 units of an item each year. The carrying cost per unit is $3.26 and the fixed…
A: Explanation of Economic Order Quantity (EOQ): This is a formula used in inventory management that…
Q: Please provide this question solution general accounting
A: Definitions:Depreciation: The systematic allocation of the cost of a tangible asset over its useful…
Q: Don't use ai solution please given correct answer general Accounting
A: Step 1: Define Adjusted Trial BalanceThe adjusted trial balance is created following the adjusting…
Q: What is the required rate of return on Clover's stock on these financial accounting question?
A: As per CAPM- Company A required return = Risk-free rate + Beta*Market Risk Premium13% =…
What is net income under absorption costing?
Step by step
Solved in 2 steps
- What is net income under absorption costing?Can you answer this financial Accounting Question?Ming Company had a net income of $780,200 based on variable costing. Beginning and ending inventories were 8,600 units and 6,000 units, respectively. Assume the fixed overhead per unit was $3.80 for both the beginning and ending inventory. What is net income under absorption costing?
- SolutionMing Company had income of $771,200 based on variable costing. Beginning and ending finished goods inventories were 7,700 units and 5,100 units, respectively. Assume the fixed overhead per unit was $2.90 for both the beginning and ending finished goods inventory. What is income under absorption costing? (Amounts to be deducted should be indicated with a minus sign.) Variable costing income Fixed overhead in beginning FG inventory Fixed overhead in ending FG inventory Absorption costing incomeA company has a net income of $918,000 based on variable costing method. Beginning and ending inventories were 56,800 units and 55,600 units. Assume the fixed overhead per unit was $2.15 for both the beginning and ending inventory. What will be the net income under absorption costing?
- Right answerI need help8. complete the following table to determine what are the total costs to account for if a company’s beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)? PLEASE NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed for that space, please enter "$0" with no quotation marks. Material Costs Conversion Costs Total Costs Beginning work in process ? ? x Added: ? ? x Direct materials ? ? x Direct labor ? ? x Manufacturing overhead ? ? x Total Costs ? ? ?
- Circetrax, Inc. has provided the following financial information for the year: Finished Goods Inventory: Beginning balance, in units Units produced Units sold Ending balance, in units Production costs: Variable manufacturing costs per unit Total fixed manufacturing costs What is the unit product cost for the year using absorption costing? OA. $117 630 1,400 1,500 530 $50 $42,000 WProblem 7: Cost of Production Report Helen Company uses FIFO process costing. Data are as follows: Beginning inventory 40% complete Units completed during period Ending inventory 70% complete 25,000 units 500,000 units 45,000 unitsBurgundy Manufacturing uses a process cost system and computes cost using the weighted average method. The beginning work-in-process inventory cost was $13,525. Manufacturing cost added during the period was $57,000. If Burgundy's ending work-in-process inventory was valued at $15,100, then cost of goods transferred must have been: a. $70,525. b. $55,425. c. $84,625. d. $58,575.