International Business: The Challenges of Globalization (9th Edition) (What's New in Management)
9th Edition
ISBN: 9780134729220
Author: John J. Wild, Kenneth L. Wild
Publisher: PEARSON
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Question
Chapter 3.3, Problem 3QS3
Summary Introduction
To Determine:
The legal system that is based on religious teaching.
Introduction:
The theocratic law is a traditional legal system that is based on divine beliefs and religious principles.
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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
Chapter 3 Solutions
International Business: The Challenges of Globalization (9th Edition) (What's New in Management)
Ch. 3.1 - Prob. 1QS1Ch. 3.1 - Prob. 2QS1Ch. 3.1 - Prob. 3QS1Ch. 3.1 - Prob. 4QS1Ch. 3.2 - Prob. 1QS2Ch. 3.2 - Prob. 2QS2Ch. 3.2 - Prob. 3QS2Ch. 3.2 - Prob. 4QS2Ch. 3.3 - Prob. 1QS3Ch. 3.3 - Prob. 2QS3
Ch. 3.3 - Prob. 3QS3Ch. 3.4 - Prob. 1QS4Ch. 3.4 - Prob. 2QS4Ch. 3.4 - Prob. 3QS4Ch. 3.5 - Prob. 1QS5Ch. 3.5 - Prob. 2QS5Ch. 3.5 - Prob. 3QS5Ch. 3.5 - Prob. 4QS5Ch. 3 - Prob. 1TAI1Ch. 3 - Prob. 2TAI1Ch. 3 - Prob. 3TAI2Ch. 3 - Prob. 4TAI2Ch. 3 - Prob. 5ECCh. 3 - Prob. 6ECCh. 3 - Prob. 7ECCh. 3 - Prob. 8MESPCh. 3 - Prob. 9MESPCh. 3 - Prob. 10MESPCh. 3 - Prob. 11MESPCh. 3 - Prob. 12MESPCh. 3 - Prob. 13MESPCh. 3 - Prob. 16MESPCh. 3 - Prob. 17MESPCh. 3 - Prob. 18MESPCh. 3 - Prob. 19MESP
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