Questions from Financial Accounting

Q: Taft Co. reports the following data: Sales……………………………………………………..$

Taft Co. reports the following data: Sales……………………………………………………..$875,000 Variable costs…………………………………………..425,000 Contribution margin……………………………….$450,000 Fixed costs……………………………………………….150,000 Income...

Q: Kimbrell Inc. manufactures three sizes of utility tables—small (

Kimbrell Inc. manufactures three sizes of utility tables—small (S), medium (M), and large (L). The income statement has consistently indicated a net loss for the M size, and manageme...

Q: Marley Company has the following information for March: Sales

Marley Company has the following information for March: Sales………………………………………………………………………$912,000 Variable cost of goods sold………………………………………..474,000 Fixed manufacturing costs………………………………………….82,000 V...

Q: Fixed manufacturing costs are $44 per unit, and variable manufacturing

Fixed manufacturing costs are $44 per unit, and variable manufacturing costs are $100 per unit. Production was 67,200 units, while sales were 50,400 units. Determine (A) whether variable costing incom...

Q: The beginning inventory is 52,800 units. All of the

The beginning inventory is 52,800 units. All of the units that were manufactured during the period and 52,800 units of the beginning inventory were sold. The beginning inventory fixed manufacturing co...

Q: Variable manufacturing costs are $126 per unit, and fixed manufacturing

Variable manufacturing costs are $126 per unit, and fixed manufacturing costs are $157,500. Sales are estimated to be 10,000 units. A. How much would absorption costing income from operations differ b...

Q: The following information is for LaPlanche Industries Inc.: /

The following information is for LaPlanche Industries Inc.: Determine the contribution margin for (A) Product YY and (B) West Region.

Q: The actual variable cost of goods sold for a product was $

The actual variable cost of goods sold for a product was $140 per unit, while the planned variable cost of goods sold was $136 per unit. The volume increased by 2,400 units to 14,000 actual total unit...

Q: The chief executive officer (CEO) of Platnum Inc. has

The chief executive officer (CEO) of Platnum Inc. has just returned from a management seminar describing the benefits of the lean philosophy. The CEO issued the following statement after returning fro...

Q: The financial statements for Nike, Inc. , are presented in

The financial statements for Nike, Inc. , are presented in Appendix E at the end of the text. The following additional information is available (in thousands): Accounts receivable at May 31, 2013…………...