The accounting records of ABC Corp shows the following: Increase of RM if 45,000; decrease din FG Inventory of 150,000; Purchases of raw materials of 1,290,000; Direct labor payroll of 600,000; Factory overhead of 900,000 (excludes indirect labor and indirect material of 10,000 and 20,000, respectively); Freight out of 135,000; Transportation in of 60,000 and decrease in WIP of 80,000. The cost of direct materials used for the period is?

Q: company's net operating income for the year would be:

A: The Variable costing is a cost accounting method which includes only variable costs for producing…

Q: The following information is available from the accounting records of Oklahoma Manufacturing. Sales…

A: Break even point is the state where the company is not able to earn profit from its business nor it…

Q: During Heaton Company’s first two years of operations, it reported absorption costing net operating…

A: Variable costs are costs that vary with the change in the level of output whereas fixed costs are…

Q: AJ Manufacturing Company incurred $53,500 of fixed product cost and $42,800 of variable product cost…

A: Three components of the income statement are as follows: Gross profit component ( it is the…

Q: Wu Company incurred $40,000 of fixed cost and $50,000 of variable cost when 4,000 units of product…

A: Total cost =fixed cost+ variable cost Total cost per unit= Total cost/ number of units

Q: Kim Company provided the following information for the current year: Increase in raw materials…

A: Cost of goods sold(COGS) implies for the amount of outlay made on making the goods which are sold in…

Q: Whitman Company has just completed its first year of operations. The company’s absorption costing…

A: Lets understand the basics. Entity follows two type of costing system. (1) Variable costing (2)…

Q: Midlands Inc. had a bad year in 2021. For the first time in its history, it operated at a loss.  The…

A: An income statement, also known as a profit and loss statement or P&L statement, is a financial…

Q: gross margin (loss)

A: Gross Margin is the residual income available after reduction of manufacturing costs and other…

Q: Portmann Company, operating at full capacity, sold 1,000,000 units at a price of $188 per unit…

A: Dear student, check the answer in the explanation box below.Explanation:Dear student, I have…

Q: At the end of the year, factory overhead applied was $3,744,000. Actual factory overhead was…

A: Applied Overhead is calculated by multiplying predetermined overhead rate by actual usage of cost…

Q: During Heaton Company's first two years of operations, it reported absorption costing net operating…

A: ABSORPTION COSTINGAbsorption Costing is a Cost Management Accounting method in which all costs…

Q: The records of the Dodge Corporation show the following results for the most recent year: Sales…

A: Step 1: Contribution margin Contribution margin = Sales - Variable expensesContribution margin =…

Q: Whitman Company has just completed its first year of operations. The company’s absorption costing…

A: Variable costing is that costing system under which all variable manufacturing costs will be part of…

Q: The condensed income statement for Monroe Corp. for the past year is as follows: Product В C Sales…

A: If product B is discontinued  then Total Fixed costs will be allocated to product "C" Because Fixed…

Q: A condensed income statement by product line for Crown Beverage Inc. indicated the following for…

A: Solution:- Calculation of Differential cost analysis as follows:-

Q: During Heaton Company's first two years of operations, it reported absorption costing net operating…

A: The Absorption Costing Method is a method of determination of the total product cost of the goods…

Q: Ivanhoe Corporation has collected the following information after its first year of sales. Sales…

A: Lets understand the basicsCost-volume-profit (CVP) analysis is a managerial accounting technique…

Q: Please give answer

A: Step 1 : Determine the unit cost: Perticular AmountDirect material cost$12,385Direct labor…

Q: The cost data relating to units of production for the year ending 31st December 2020 are as follows:…

A: Inventory valuation is an accounting practice that is followed by companies to find out the value of…

Q: During Heaton Company's first two years of operations, it reported absorption costing net operating…

A: Unit product cost refers to the cost incurred in factory for the production of goods. Under variable…

Q: During Heaton Company’s first two years of operations, it reported absorption costing net operating…

A: Variable costing is a managerial accounting cost concept. Under this method, manufacturing overhead…

Q: he following information is available for Carter Corporation: Materials inventory decreased $4,000.…

A: a.  Compute Finished goods inventory on January 1.

Q: During Heaton Company’s first two years of operations, it reported absorption costing net operating…

A: Absorption costing and variable costing are defined as two method of calculating net profit. There…

Q: During Heaton Company's first two years of operations, It reported absorption costing net operating…

A: The income statement can be prepared using various methods as variable costing and absorption…