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Question
On April 1, 2015, due to obsolescence resulting from a new technology, a company discarded a computer that cost $5,000, had a useful life of 4 years, and a salvage value of $400. Based on straight-line depreciation, the accumulated depreciation as of December 31, 2014 was $3,450.a. Prepare the journal entry to record depreciation up to the date of disposal of the computer.
b. Prepare the journal entry to record the disposal of the computer.
Answer
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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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Direct materials $3 per unit
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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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Q:
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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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Given the Galaxy, Inc. data, what is net income using absorption costing?
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