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Question
The Oberon Company purchased a delivery truck for $95,000 on January 2. The truck was estimated to have a $3,000 salvage value and a 4 year life. The truck was depreciated using the straight-line method. At the beginning of the third year, it was obvious that the truck's total useful life would be 6 years rather than 4, and the salvage at the end of the 6th year would be $1,500. Determine the depreciation expense for the truck for the 6 years of its life.| Year | Depreciation expense |
| 1 | |
| 2 | |
| 3 | |
| 4 | |
| 5 | |
| 6 |
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
Q:
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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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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Gross margin $288,000
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Q:
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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
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 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