Probably white space because you want it to be full of information and organized
Answer:
According to generally accepted accounting principles, inventoriable cost per unit of Big would be $17.00
Explanation:
Absorption Costing method is suitable for external reporting purposes and thus preferred in reporting According to the generally accepted accounting principles (GAAP)
Absorption Costing Includes Both Fixed and Variable <em>Manufacturing Overheads</em> in Product Costings Calculations
<u>Calculation of Inventory Cost per Unit According to Absorption Costing:</u>
Direct material 2.00
Direct labor 8.00
Variable Manufacturing Overhead 3.00
Fixed Manufacturing Overhead ($24,000/6,000) 4.00
Inventory Cost per Unit 17.00
Answer: $90
Explanation: closing stock as at November ending is 3, consisting of:
1 DVD bought on 1st June @ $47
1 DVD bought on 1st Nov @ $43
1 DVD bought on 30th Nov @ $36
using FIFO (First in first Out) inventory method, 2 of the DVD was sold as at the end of December.
Cost of goods sold in the month of December is $47 +$43 = $90
Answer:
The ending balance in the retained earnings account is $31400.
Explanation:
The ending balance in the retained earnings accounts is equal to the opening balance of the retained earnings account plus the addition to the retained earnings for the year.
The addition to retained earnings will be the Net income less dividends.
The net income for the year was = 75200 - 55000 = $20200
Addition to Retained earnings = 20200 - 12600 = $7600
Closing balance of retained earnings = 23800 + 7600 = $31400
Answer: PLease see answer below
Explanation:
Date Account title and explanation Debit Credit
Dec 31 Interest receivable $168
2021 Interest revenue $168
Calculation
Interest =Principal x time x rate
= 7,200 x 8% x 3.5 /12(15th september to 31st December)
=$168