FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Reeds Co has established a marginal costing profit of $72,300. Opening inventory was 300 units and closing inventory is 750 units. The fixed production overhead

image text in transcribed

Reeds Co has established a marginal costing profit of $72,300. Opening inventory was 300 units and closing inventory is 750 units. The fixed production overhead absorption rate has been calculated as $5/unit. Required: What would be the profit under absorption costing system

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Cost Accounting

Fundamentals of Cost Accounting

Authors: William Lanen, Shannon Anderson, Michael Maher

4th edition

78025524, 978-0078025525

More Books

Students also viewed these Accounting questions

Question

★★★★★
GlaxoSmithKline, the global maker of medicines, vaccines, and consumer health-care products and headquartered in the United Kingdom, reported net cash inflow from operating activities of 6,250...

Answered: 1 week ago

Question

★★★★★
LO 7-4 How can an understanding of the nervous system help us fi nd ways to alleviate disease and pain?

Answered: 1 week ago

Question

★★★★★
10. What behaviors would make you suspect that wor~place tension is escalating into ,folcnce? What steps would you take to deal with your suspicions?

Answered: 1 week ago

Question

★★★★★
The gross earnings of the factory workers for Larkin Company during the month of January are $76,000. The employers payroll taxes for the factory payroll are $8,000. The fringe benefits to be paid by...

Answered: 1 week ago

Question

★★★★★
Reeds Co has established a marginal costing profit of $72,300. Opening inventory was 300 units and closing inventory is 750 units. The fixed production overhead absorption rate has been calculated as...

Answered: 1 week ago

Question

★★★★★
Pete Frost made a deposit into his savings account 3 years ago and earned interest at an annual rate of 8%. The deposit accumulated to $20,500. How much was initially deposited assuming that the...

Answered: 1 week ago

Question

★★★★★
Analyse organisational politics in terms of the following : Why they arise and exist;the consequences on organizations and the effective management thereof. Support your analysis with examples from...

Answered: 1 week ago

Question

★★★★★
> library(class) A > train.x-cbind(Lag1,Lag2) [train,] > test.x-cbind(Lag1,Lag2) [!train,] > train. > Direction-Direction[train] > set.seed(1) > knn. pred knn(train. x, test.x, train. Direction, k=1)...

Answered: 1 week ago

Question

★★★★★
Suppose that P(A) = 0.6, P(B) = 0.7, and that events A and B are independent a. Find P(AB) b. Find P(AUB) c. Are the two events A and B mutually exclusive? Give reason.

Answered: 1 week ago

Question

★★★★★
Please provide solutions HC3181 2839 32. Total fixed costs allocated to the department are $25,000. Total number of units expected to be sold based on a market study are 12,000. Total variable costs...

Answered: 1 week ago

Question

★★★★★
From the Factory to the Frontlines The Operation Warp Speed Strategy for Distributing a COVID-19 Vaccine What This Strategy Aims to Do This report to Congress details a strategy to achieve the...

Answered: 1 week ago

Question

★★★★★
Do you find that most of your identified procedures are manual or automatic?

Answered: 1 week ago

Question

★★★★★
How does version history act as a control for data files?

Answered: 1 week ago

Question

★★★★★
How many attributes/fields are available in the dataset?

Answered: 1 week ago

Previous Question Next Question