Income Statements under Absorption Costing and Variable Costing

Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July:

Sales (19,500 units) $2,145,000
Production costs (25,000 units):
Direct materials $1,017,500
Direct labor 487,500
Variable factory overhead 245,000
Fixed factory overhead 162,500 1,912,500
Selling and administrative expenses:
Variable selling and administrative expenses $296,400
Fixed selling and administrative expenses 114,800 411,200

Answers

Answer 1

The Income Statements under Absorption Costing and Variable Costing are as follows:

                                                       Absorption Costing     Variable Costing

Sales (19,500 units)                              $2,145,000               $2,145,000

Cost of goods sold                                $1,491,750               $1,365,000

Gross profit                                            $653,250                 $780,000

Selling and administrative expenses:

Fixed factory overhead                                          $162,500

Variable selling and

 administrative expenses    $296,400                  296,400

Fixed selling and

 administrative expenses       114,800    411,200    114,800   573,700

Net Income                                          $242,050                $206,300

What is the difference between Absorption Costing and Variable Costing?

The difference between Absorption Costing and Variable Costing is that the Ending Inventory costs under Variable Costing include only direct materials, direct labor, and variable factory overhead.  Absorption Costing includes all the variable factory costs plus fixed factory overhead (a period cost) in the Ending Inventory costs.

Data and Calculations under Absorption Costing:

Sales (19,500 units)                              $2,145,000

Production costs (25,000 units):

Direct materials                $1,017,500

Direct labor                          487,500

Variable factory overhead 245,000

Fixed factory overhead       162,500

Total production costs      1,912,500

Cost per unit = $76.50 ($1,912,500/25,000)

Less Ending inventory        420,750               (5,500 x $76.50)

Cost of goods sold                              $1,491,750

Gross profit

Selling and administrative expenses:

Variable selling and administrative expenses $296,400

Fixed selling and administrative expenses 114,800 411,200

Data and Calculations under Variable Costing:

Sales (19,500 units)                              $2,145,000

Production costs (25,000 units):

Direct materials                $1,017,500

Direct labor                          487,500

Variable factory overhead 245,000

Total variable production costs  1,750,000

Cost per unit = $70 ($1,750,000/25,000)

Less Ending inventory       385,000               (5,500 x $70)

Cost of goods sold                              $1,365,000

Gross profit

Selling and administrative expenses:

Variable selling and

administrative expenses $296,400

Fixed factory overhead       162,500

Fixed selling and administrative expenses 114,800 411,200

Learn more about absorption costing and variable costing at https://brainly.com/question/6337340

#SPJ1


Related Questions

what mixed number is equivalent to the fraction 28/5

Answers

The mixed number equivalent to the fraction 28 / 5 is 5 3 / 5

What is mixed fraction?

A fraction represented with its quotient and remainder is a mixed fraction.

Therefore, it is a combination of a whole number and a proper fraction.

Hence,

The fraction is in improper fraction, let's convert it to mixed fraction.

Therefore,

28 / 5 = 5 3 / 5

learn more on fraction here: https://brainly.com/question/11709591

#SPJ1

Which functions have a maximum and are transformed to the left and down of the parent function, f(x)=x2? Check
all that apply.
p(x) = 14(x + 7)² + 1

g(x) = -5(x + 10)² - 1

s(x) = –(x − 1)? +0.5

g(x) = 2x² + 10x-35

t(x) = -2x² - 4x - 3

Answers

Using translation concepts, the functions that have a maximum and are transformed to the left and down of the parent function are given by:

g(x) = -5(x + 10)² - 1t(x) = -2x² - 4x - 3

What is a translation?

A translation is represented by a change in the function graph, according to operations such as multiplication or sum/subtraction in it's definition.

For the translations, we have that:

Shift left, hence x -> x + a, a > 0.Shift down, hence y -> y - a, a > 0.Having a maximum means that the leading coefficient is negative.

The functions that respect these conditions are:

g(x) = -5(x + 10)² - 1t(x) = -2x² - 4x - 3 = -2(x² + 2x) - 3 = -2(x + 1)² - 1

More can be learned about translation concepts at https://brainly.com/question/4521517

#SPJ1

Dr. Dominic Estores has written a prescription for a patient to take a preoperative medication at 2200 on the evening before his scheduled surgery. Using the standard time system, what time should you tell the patient to take his medication?

Answers

Using the conversion from the 24-hour system to the AM/PM system, the patient should take the medicine at 10 PM.

How to convert from 24 hours to AM/PM?

If the hour is between 0 and 11:59, the hour is kept with AM.If the hour is 12, it is PM.If the hour is between 13 and 23:59, the hour the remainder of the division of the hour and 12, PM.

22 divided by 12 has remainder 10, hence 22 is equivalent to 10 PM.

More can be learned about the conversion from the 24-hour system to the AM/PM system at https://brainly.com/question/17477625

#SPJ1

Please help me....trying to get my HS diploma, i did not graduate :(

Kevin wants to buy an area rug for his living room. He would like the area rug to be no smaller that 48 square feet and no bigger than 80 square feet. If the length is 2 feet more than the width, what are the range of possible values for the length?

Answers

Answer:

It would be B.

Step-by-step explanation:

[tex]area = l \times w \\ but \: w = l - 2[/tex]

[tex]area = l(l - 2) = l {}^{2} - 2l[/tex]

[tex]l {}^{2} - 2l \geqslant 48 \\ l {}^{2} - 2l - 48 \geqslant 0 \\ (l + 6)(l - 8) \geqslant 0[/tex]

[tex]l {}^{2} - 2l \leqslant 80 \\ l {}^{2} - 2l - 80 \leqslant 0 \\ (l + 8)(l - 10) \leqslant 0[/tex]

Sol 1: L in ]-∞,-6]U[8,∞[Sol 2: L in [-8,10]

Intersection:L belongs [-8,-6[U[8,10]

But Length cannot be negative

L belongs [8,10] or 8≤L≤10

The ages of 30 students in a class are given below. Construct a frequency table for grouped data using 6 classes. For convenience, the data has been ordered from smallest to largest. 15, 17, 18, 19, 25, 25, 27, 28, 29, 30, 30, 32, 33, 36, 38, 45, 45, 48, 49, 50, 52, 53, 55, 56, 57, 58, 59, 59, 63, 68 All responses should be whole numbers. Provide your answer below:

Answers

Here is the frequency table:
Class       Frequency

15 - 24       4

25 - 34        9

35 - 44       2

45 - 54        7

55 - 64         7

65 - 74          1

What is the frequency table?

A frequency table is used to track the frequency of a data set. The data ranges from 15 to 68, if the classes are to be 6, then the class interval would have to be 9.

Class       Frequency

15 - 24       4

25 - 34        9

35 - 44       2

45 - 54        7

55 - 64         7

65 - 74          1

To learn more about frequency tables, please check: https://brainly.com/question/12576014

#SPJ1

At a restaurant levys total bill is 46 bucks, if he wants to tip 15 percent how much should he leave as a tip?

Answers

Total bill is 46
Wants to tip 15%
There; 15/100 * 46/1 = 6.9

What is the slope of a line parallel to the line with equation 2x−5y=9?


25

−25

−95

−52

Answers

Answer:

For this one the parallel slope is going to be 2/5

Step-by-step explanation:

The coordinates of the points P, Q and R are given by (-2, 1), (1, 4) and (4, k) respectively. Find the value(s) of k if
(b) PQ=QR(clue:distance).​

Answers

There are two values of k based on the assumption that PQ = QR and the definition of distance and the Pythagorean theorem, k₁ = 7 and k₂ = 1.

How to find the missing value of a coordinate

Herein we can find the value of the missing coordinate of point by the Pythagorean theorem, which is described below:

PQ = QR     (1)

[tex](Q_{x}-P_{x})^{2} + (Q_{y}-P_{y})^{2} = (R_{x}-Q_{x})^{2} + (R_{y}-Q_{y})^{2}[/tex]

If we know that P(x, y) = (- 2, 1), Q(x, y) = (1, 4) and R(x, y) = (4, k), then the missing value of the point R is:

[1 - (- 2)]² + (4 - 1)² = (4 - 1)² + (k - 4)²

(k - 4)² = 9

k - 4 = ± 3

k = 4 ± 3

There are two values of k based on the assumption that PQ = QR and the definition of distance and the Pythagorean theorem, k₁ = 7 and k₂ = 1.

To learn more on Pythagorean theorem: https://brainly.com/question/26183488

#SPJ1

Which statements are true? Select three options.

You can use for reference ;)

Answers

The answers are A,C,&E

does 6(2x-6)=-7(-2x+4) have no solution or infinite solution

Answers

Answer:

It does not.

Step-by-step explanation:

[tex]6(2x - 6) = -7(-2x + 4); \\ 6 * 2x - 6 * 6 = -7 * (-2x) + (-7) * 4; \\ 12x - 36 = 14x - 28; \\ 14x - 12x = -36 + 28; \\ 2x = -8; \\ x = -4.[/tex]

[tex]\{-4\}[/tex] is our set of solutions. Answering your question, it does not.

Work out the surface area of the triangular prism below. Give your answer in cm cm². 17 cm 14 cm 15 cm 8 cm​

Answers

Answer:

Step-by-step explanation:

A= 2AB+(a+b+c)h

AB= s (s﹣a) ( s﹣b) (s﹣c)

s = a+b+c

2

Solving for A

A= ah +bh+ch+1

2﹣a4+2(ab)2+2(ac)2﹣b4+2(bc)2﹣c4=17·8+14·8+15·8+1

2·﹣174+2·(17·14)2+2·(17·15)2﹣144+2·(14·15)2﹣154≈ 567.35897

Answer: 567.36

The formula = A = 1/2 bh

You can find the answer with that formula

Describe the transformation of the function, y=1/7 x from y = x.

Answers

The transformation of the function, y=1/7 x from y = x is y = 7x

How to determine the transformation?

The function is given as:

y = 1/7x

The transformation rule is given as:

y = x

This means that we swap x and y.

So, we have:

x = 1/7 y

Multiply through by 7

y = 7x

Hence, the transformation of the function, y=1/7 x from y = x is y = 7x

Read more about transformation at:

https://brainly.com/question/5994940

#SPJ1

The graph of f(x) was vertically translated down by a value of k to get the function g(x) = 5x + k. What is the value of k?

Answers

The value of k in g(x) = 5^x + k is -7

How to determine the value of k?

The complete question is added as attachment

The functions are given as:

f(x) = 5^x

g(x) = 5^x + k

From the attached graph, we can see that:

f(x) is shifted down by 7 units to form g(x)

This means that:

g(x)= f(x) - 7

This gives

g(x) = 5^x - 7

Substitute g(x) = 5^x - 7 in g(x) = 5^x + k

5^x + k = 5^x - 7

This gives

k = -7

Hence, the value of k in -7

Read more about translation at:

https://brainly.com/question/12802998

#SPJ1

The auto parts department of an automotive dealership sends out a mean of 4.2 special orders daily. What is the probability that, for any day, the number of special orders sent out will be exactly 3? Round your answer to four decimal places.

Answers

The probability that, for any day, the number of special orders sent out will be exactly 3 is 0.1633.

What are some of the properties of Poisson distribution?

The Poisson distribution is a discrete probability distribution that describes the likelihood of a specific number of events occurring in a specified span of time or space, if these events occur at a constant mean rate and regardless of the time since the last occurrence.

Let X ~ Pois(λ)

Then we have:

E(X) = λ = Var(X)

Since standard deviation is the square root (positive) of variance,

Thus,

The standard deviation of X = [tex]\sqrt{\lambda}[/tex]

Its probability function is given by

[tex]f(k; λ) = Pr(X = k) = \dfrac{\lambda^{k}e^{-\lambda}}{k!}[/tex]

Given the mean is 4.2.

We have to find the probability that on any day, the number of special orders sent out will be exactly 3. Therefore, the value of x will be 5.

Using the Poisson distribution,

[tex]P(x) = \dfrac{e^{-\lambda}\lambda ^x}{x!}\\\\P(5) =\dfrac{e^{-4.2}(4.2)^5}{5!}\\\\P(5) = 0.1633[/tex]

Hence, the probability that, for any day, the number of special orders sent out will be exactly 3 is 0.1633.

Learn more about Poisson distribution here:

https://brainly.com/question/7879375

#SPJ1

Find the missing value of the ordered triple that will make the solution to the equation x + 2y – 3z = 8 true.

7. (4, , 0)

8. ( , -2, -2)

9. (2, 3, )

10. (-3, -2, )

Answers

The missing value of the ordered triple for questions 7,8,9 and 10 will be  y=2,x=6,z=0, and z=-5 respectively.

What is the equation?

A mathematical statement consisting of an equal symbol between two algebraic expressions with the same value is known as an equation.

The given equation in the problem is;

7) (4, ,0)

Substitute the values in the equation;

⇒x+2y-3z = 8,

⇒4+2y-3(0) = 8

⇒2y=8-4

⇒2y=4,

⇒y=4/2

⇒y=2

8) (, -2, -2)

Substitute the values in the equation;

   

x+2(-2) -3(-2)= 8

x-4+6 =8

x= 8-6+4

x=8-6+4

x=6

9)(2, 3, )

Substitute the values in the equation;

⇒2+2(3)-3z = 8

⇒8-3z = 8

⇒-3z = 0

⇒z = 0/-3

⇒z= 0

10) (-3, -2, )

Substitute the values in the equation;

   

⇒-3+2(-2) -3z = 8

⇒-7 -3z = 8

⇒-3z = 15

⇒z = 15/-3

⇒z = -5

Hence, the missing value of the ordered triple for questions  7,8,9, and 10 will be  y=2,x=6,z=0, and z=-5 respectively.

To learn more, about equations, refer;

https://brainly.com/question/10413253

#SPJ1

how would i explain my students proportional reasoning

Answers

Answer:

proportional reasoning involved thinking about relationship and making comparisons of countries are values in the words of John went Diwali portion reasoning is difficulty find it is not something that you can or not to but is diploma over 3 reasoning

X. y.
-1. 1/10
0. 1/2
1. 5/2
2. 25/2
3. 125/2



What is the rate of change of the function described in the table?
a. 12/5
b. 5
c. 25/2
d. 25​

Answers

Answer: B

Step-by-step explanation:

Each time x increases by 1, y is multiplied by 5.

Silva the formula I=Prt, in general, to find the principal, p.

Answers

Dividing both sides by rt,

[tex]\boxed{P=\frac{I}{rt}}[/tex]

Whats the correct answer answer asap for brainlist

Answers

Answer:

B

Step-by-step explanation:

The answer to the question is C

Given that a bag of m&ms has 21 brown candies, 15 orange candies, 10 yellow candies, 14 red candies, and 5 green candies, find the probabilities

Answers

The probability of drawing brown candies , orange candies,  yellow candies, red candies, green candies is 0.323 , 0.231 , 0.154 , 0.215 ,0.077

What is Probability ?

Probability is the study of likeliness of an event to happen.

It is given that a bag of  candies that have

21 brown candies

15 orange candies,

10 yellow candies,

14 red candies,

5 green candies,

probabilities of drawing each candy =?

Total Candies = 21 +15+10+14+5 = 65

Probability = No. of chances / Total outcomes

Probability of drawing Brown candies = P(B) = 21 /65 =  0.323

Probability of drawing Yellow candies = P(Y)= 10/65= 0.154

Probability of drawing Orange candies = P(O) = 15/65=  0.231

Probability of drawing Red candies =P( R) = 14/65= 0.215

Probability of drawing Green candies = P(G) = 5/65= 0.077

Therefore the probability of drawing brown candies , orange candies,  yellow candies, red candies, green candies is 0.323 , 0.231 , 0.154 , 0.215 ,0.077.

To know more about Probability

https://brainly.com/question/11234923

#SPJ1

3) Which letter has a perpendicular line segment?

A. Y

B. L

C. R

D. U

Answers

Answer: L

Step-by-step explanation:

The two segments that form L meet at a 90 degree angle.

sari ran for class president. each student in her class voted one time. sari won 25% of the student votes. if sari recived 60 votes, how many students voted altogether

Answers

The number of students who voted is 240.

How many students voted?

Percentage can be described as a fraction out of an amount that is usually expressed as a number out of hundred.

The number of students who voted = number of votes Sari received / percentage number

60 / 0.25 = 240

To learn more about percentages, please check: https://brainly.com/question/25764815

#SPJ1

Problem
A prime trio is a collection of three prime numbers [tex]\{p,q,r\}[/tex] in arithemtic progression, with common difference [tex]q-p=r-q[/tex]. For example, the prime trio [tex]\{3,5,7\}[/tex]has common difference 2.
(a) Find a prime trio with common difference 50.
(b) Find two prime trios with common difference 60.
(c) Prove that there is no prime trio with common difference 70.

Answers

Answer:

(a) 50:

3 53 103

(b) 60:

7 67 127

11 71 131

Step-by-step explanation:

OK, I think you can prove this with the theorem that any prime greater than 3 is 6n-1 or 6n+1, for integer n. In other words, any prime is near a multiple of 6; it is either one less or one more. The proof for this is very easy, look it up.

Given this fact, if two primes (p,q) are 70 a part, this means the first one has to be a case of 6n+1 and the second one has to be a case of 6n-1. Why? Because the nearest multiple of 6 is 72 and with +1 on one end and -1 on the other end, you can reach a "gap" of 70.

Now for the next two primes (q,r) the same must hold. Only, it can't because this requires q to be both 6n-1 and 6n+1.

how long would it take to drive 18 miles while going 18 mph

Answers

Answer:

1 hour

Step-by-step explanation:

18 miles because if u go 18 miles per hour it takes a hour

Evaluate the following expression.

(5x)^0

Answers

Hello,

Answer:

1

Step-by-step explanation:

(5x)⁰ = 1

Rule : a⁰ = 1

Answer:

1

Step-by-step explanation:

(5x)^0

Any base raised to the zero power is 1

a^0 = 1

5^0 =1

(5x)^0 =1

Two friends, Olivia and Melanie, took summer jobs. The equation y=22.2xy=22.2x represents Melanie's earnings in dollars and cents, yy, for working xx hours. Olivia earned $1156 in 40 hours. How much less per hour does Melanie earn than Olivia?

Answers

Answer:

  $6.70 per hour

Step-by-step explanation:

We want to compare the pay for 1 hour's work.

Melanie's pay

The equation tells us that her pay for working 1 hour can be found from the equation using x=1.

  y = 22.2x

  y = 22.2×1 = 22.2 . . . . pay for 1 hour

Melanie earns $22.20 per hour.

Olivia's pay

We assume that Olivia's pay is proportional to hours worked, so pay for 40 hours will be 40 times 1 hour's pay.

  pay per hour = $1156/(40 h) = $28.90/h

Olivia earns $28.90 per hour.

Pay difference

The difference in their rates of pay is ...

  $28.90 -22.20 = $6.70

Melanie earns $6.70 less per hour than Olivia.

Find the angle between the vectors A = <2,-3> asnd B = <-2, -5> to the nearest tenth of a degree.

Answers

Answer:

55.5

Step-by-step explanation:

answer is 55.491477012331599 which rounded to the nearest tenth is 55.5

when you said to the nearest tenth of degree i assume that meant like rounding to the nearest tenth

ANSWERS QUCIK PLS AND THINK U

Answers

Answer:

50.3cm²

Step-by-step explanation:

Formula: The area of a circle is found by A = πr²

Given:

radius is 4cmπ = 3.142

Plug in:

A = πr² → A = (3.142)(4)²

            → A = (3.142)(16)

            → A = 50.272

"1 decimal places",  round up to 50.3

Learn more about Circles here: https://brainly.com/question/10368742

Giving brainliest to first accurate answer

Answers

Answer:

x<3

Step-by-step explanation:

There isn't a question that I can see for the first image, and I cannot see the yellow part, so I am not 100% sure if this is an accurate answer to the question you were asking.

A coach in a train can seat exactly 72 people for a trip. The train has 12 such coaches. If the train made 156 trips in full capacity this year, how many people has it carried in that time. I will give brain to the first person who answers this question correctly.

Answers

Answer:

134,784 people

Step-by-step explanation:

Hello!

Let's first find the number of people it can carry on 1 trip. We can do this by multiplying the number of people per coach, by the number of coaches.

72 x 12864

The train carries 864 people per trip. We can find the number of people in 156 trips by multiplying 864 by 156.

864 x 156134,784

The train, in full capacity, will carry 134,784 people in 156 trips.

Other Questions
Listen and choose the correct image that matches the verb in the audio. People sharing a pizza Person Person drinking a shake Person writingThe audio in this question says (compartir)which means to share in Spanish(Choose the option which has multiple hands in the pizza). Alexander is creating his graphic design rsum. which is the most common font that he should avoid? Madeline uses a mirror on the ground to measure the height of her school building. She walks a distance of 9.5 m from the building, then place is a mirror flat on the ground. she then walks 2.75 more meters Write the equation of the line with a slope of 2/3 and y-intercept of 1. Write your answer in slope-intercept form Given: p: x is prime. q: x is even. What is the truth value of p^q when x is replaced by 2? When the number of turns in a solenoid and its length are both doubled, the ratio of the magnitude of the new magnetic field inside to the magnitude of the original magnetic field inside is: What is a good quote?? The term economists use to describe a situation in which the economy's overall price level is rising is a. growth. b. expansion. c. inflation. d. recession. Factorize this equation:6=x^2-x A bank has stock shares of $100,000, property assets of $90,000, and cash of $10,000. If households and businesses decide to deposit $50,000 in the bank as checkable deposits, the balance sheet will be ______. Bruce lies, cheats, exploits, and violates others rights without feeling guilty. His behavior best fits the diagnosis of ___________ personality disorder What is the density of a liquid with a mass of 6 grams, and a volumeof 3 milliliters? Judith bought a new Coach purse for herself as a birthday present. She had never spent that much on a purse, but decided it was worthcan influence buyingit because she would look so chic when she used it. This demonstrates how a customer's perception of____ can influence buyingbehavior. What can you say about the drop in potential energy (per unit mass or volume) of water traveling through either pipe? What can you say about the drop in potential energy (per unit mass or volume) of water traveling through either pipe? The drop is greater for pipe L. The drop is greater for pipe S. The drop is the same for both pipes. Please solve this question The ______ argues that Whites will gradually lose their dominant status as Latino and Asian American groups grow in numbers . Write the following sentences in present perfect tense i) (I / study / French) How to compare my DNA with the DNA of my best friend?How would our DNA be similar? How would it be different? Which type of light is best for checking the security features of a california issued id or driver license?. Item cost $430 sales tax was $8.60 what is the percentage of the sales tax rate