The four categories of soft skills given in the question. They are: Thinking and problem solving Oral and written communication Personal qualities and work ethic Interpersonal and teamwork The instructor wants the candidate to identify his soft skills and note down what a potential employer would value. A list of four items corresponding to each of the categories has to be noted down. Introduction : Soft skills and hard skills are both required in a job, however some companies pay more emphasis on soft skills as they are essential career attributes that include the ability to communicate, involves working well with others, problem solving ability, ethical decision making and embracing diversity.

Question

Kenzi Kayaking, a manufacturer of kayaks, began operations this year. During this first year, the company produced 1,000 kayaks and sold 750. at a price of $1,000 each. At this first year-end, the company reported the following income statement information using absorption costing. Sales (750 $1,000) $750,000 Cost of goods sold (750 $450) 337,500 Gross margin 412,500 Selling and administrative expenses 240,000 Net income $172,500 Additional Information: a. Production cost per kayak totals $450, which consists of $350 in variable production cost and $100 in fixed production cost the latter amount is based on $100,000 of fixed production costs allocated to the 1,000 kayaks produced. b. The $240,000 in selling and administrative expense consists of $95,000 that is variable and $145,000 that is fixed. Required: Prepare an income statement for the current year under variable costing.

Answer 1

Question

Chapter 1, Problem 1.4AAC

Summary Introduction

To determine:

The four categories of soft skills given in the question. They are:

Thinking and problem solving

Oral and written communication

Personal qualities and work ethic

Interpersonal and teamwork

The instructor wants the candidate to identify his soft skills and note down what a potential employer would value. A list of four items corresponding to each of the categories has to be noted down.

Introduction:

Soft skills and hard skills are both required in a job, however some companies pay more emphasis on soft skills as they are essential career attributes that include the ability to communicate, involves working well with others, problem solving ability, ethical decision making and embracing diversity.

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Kenzi Kayaking, a manufacturer of kayaks, began operations this year. During this first year, the company produced 1,000 kayaks and sold 750. at a price of $1,000 each. At this first year-end, the company reported the following income statement information using absorption costing. Sales (750 $1,000) $750,000 Cost of goods sold (750 $450) 337,500 Gross margin 412,500 Selling and administrative expenses 240,000 Net income $172,500 Additional Information: a. Production cost per kayak totals $450, which consists of $350 in variable production cost and $100 in fixed production cost the latter amount is based on $100,000 of fixed production costs allocated to the 1,000 kayaks produced. b. The $240,000 in selling and administrative expense consists of $95,000 that is variable and $145,000 that is fixed. Required: Prepare an income statement for the current year under variable costing.

Don't use ai given answer accounting questions

Operating expenses