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Question
A company had a tractor destroyed by fire. The tractor originally cost $85,000 with accumulated depreciation of $60,000. The proceeds from the insurance company were $20,000. The company should recognize:A.A loss of $5,000.
B.A gain of $5,000.
C.A loss of $20,000.
D.A gain of $65,000.
E.A gain of $20,000.
Answer
This answer is hidden. It contains 105 characters.
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Q:
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Direct labor X X
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Variable manufacturing overhead
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Direct materials
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Match the following
Q:
Given the following data, calculate product cost per unit under variable costing.
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Overhead
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Total fixed overhead $85,000
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Q:
Tim's Tools, a manufacturer of cordless drills, began operations this year. During this year, the company produced 20,000 units and sold 18,000 units. At year-end the company reported the following income statement using absorption costing:
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Q:
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Direct labor $2.50 per unit
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Q:
What is the Red and White's contribution margin for this month if 980 units were sold?
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C. $24,500
D. $50,000
E. $21,560
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Given the Cool Pools Company data, what is net income using absorption costing?
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Given the Scavenger Company data, what is net income using variable costing?
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E. $276,250
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Given the Galaxy, Inc. data, what is net income using absorption costing?
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B. $17,400,000
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E. $16,220,000