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Question
An asset's book value is $18,000 on December 31, Year 5. The asset has been depreciated at an annual rate of $3,000 on the straight-line method. Assuming the asset is sold on December 31, Year 5 for $15,000, the company should record:A.A loss on sale of $12,000.
B.A gain on sale of $12,000.
C.Neither a gain nor a loss is recognized on this transaction.
D.A gain on sale of $3,000.
E.A loss on sale of $3,000.
Answer
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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
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Given the following data, calculate product cost per unit under variable costing.
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Direct materials $3 per unit
Overhead
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Total fixed overhead $85,000
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B. $13.30 per unit
C. $11.00 per unit
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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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Net income $198,000
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Q:
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Direct labor $2.50 per unit
Variable overhead $3.50 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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B. $18,620
C. $24,500
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E. $21,560
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Given the Cool Pools Company data, what is net income using absorption costing?
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B. $1,648,600
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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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D. $16,800,000
E. $16,220,000