absorption costing income statement from variable costing income statement under the sale of 50,000 units from the production of 80,000 units.

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Answer 1

Question

Chapter 19, Problem 11QS

1.

To determine

To prepare: absorption costing income statement from variable costing income statement under the sale of 50,000 units from the production of 80,000 units.

2.

To determine

the reason of difference in net income under variable costing and absorption costing.

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If an oil rig was built in the sea, the cost to be capitalised is likely to include the cost of constructing the asset and the present value of the cost of dismantling it. If the asset cost $10 million to construct, and would cost $4 million to remove in 20 years, then the present value of this dismantling cost must be calculated. If interest rates were 5%, the present value of the dismantling costs are calculated as follows: $4 million x 1/1.0520 = $1,507,558 The total to be capitalised would be $10 million + $1,507,558 = $11,507,558. This would be depreciated over 20 years, so 11,507,558 x 1/20 = $575,378 per year. Each year, the liability would be increased by the interest rate of 5%. In year 1 this would mean the liability increases by $75,378 (making the year end liability $1,582,936). This increase is taken to the finance costs in the statement of profit or loss.

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Answer 2

Question

Chapter 19, Problem 11QS

1.

To determine

To prepare: absorption costing income statement from variable costing income statement under the sale of 50,000 units from the production of 80,000 units.

2.

To determine

the reason of difference in net income under variable costing and absorption costing.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 19, Problem 11QS

1.

To determine

To prepare: absorption costing income statement from variable costing income statement under the sale of 50,000 units from the production of 80,000 units.

2.

To determine

the reason of difference in net income under variable costing and absorption costing.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 19, Problem 11QS

1.

To determine

To prepare: absorption costing income statement from variable costing income statement under the sale of 50,000 units from the production of 80,000 units.

2.

To determine

the reason of difference in net income under variable costing and absorption costing.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 19, Problem 11QS

1.

To determine

To prepare: absorption costing income statement from variable costing income statement under the sale of 50,000 units from the production of 80,000 units.

2.

To determine

the reason of difference in net income under variable costing and absorption costing.

Answer 6

Chapter 19, Problem 11QS

1.

To determine

To prepare: absorption costing income statement from variable costing income statement under the sale of 50,000 units from the production of 80,000 units.

Answer 7

Chapter 19, Problem 11QS

1.

To determine

To prepare: absorption costing income statement from variable costing income statement under the sale of 50,000 units from the production of 80,000 units.

Answer 8

2.

To determine

the reason of difference in net income under variable costing and absorption costing.

Answer 9

2.

To determine

the reason of difference in net income under variable costing and absorption costing.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 19 - Prob. 1MCQ Ch. 19 - Prob. 2MCQ Ch. 19 - Prob. 3MCQ Ch. 19 - Prob. 4MCQ Ch. 19 - Prob. 5MCQ Ch. 19 - Prob. 1DQ Ch. 19 - Prob. 2DQ Ch. 19 - Prob. 3DQ Ch. 19 - Prob. 4DQ Ch. 19 - Prob. 5DQ

absorption costing income statement from variable costing income statement under the sale of 50,000 units from the production of 80,000 units.

To prepare: absorption costing income statement from variable costing income statement under the sale of 50,000 units from the production of 80,000 units.

the reason of difference in net income under variable costing and absorption costing.

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Chapter 19 Solutions