Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 30 Apr 2018 My Price 9.00

Lynch Company

Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s first year of operations:

 

      

 

     
  Variable costs per unit:    
    Manufacturing:    
        Direct materials   $ 10
        Direct labor   $ 4
        Variable manufacturing overhead   $ 2
        Variable selling and administrative   $ 2
  Fixed costs per year:    
    Fixed manufacturing overhead $ 374,000
    Fixed selling and administrative $ 284,000
 

 

    

 

During the year, the company produced 34,000 units and sold 26,000 units. The selling price of the company’s product is $44 per unit.

 

    

 

Required:

 

1. Assume that the company uses absorption costing:

 

    

 

a. Compute the unit product cost.
   

 

                   

 

b.

Prepare an income statement for the year.

 
 
Lynch Company
Absorption Costing Income Statement
Sales  
Cost of goods sold  
Gross margin 0
Total selling and administrative expense  
Net operating income $0
   

 

  

 

2. Assume that the company uses variable costing:

 

   

 

a. Compute the unit product cost.
   

 

               

 

b.

Prepare an income statement for the year.
 
 
 
Lynch Company
Variable Costing Income Statement
Sales    
Variable expenses:-    
Variable cost of goods sold    
     
     
Variable selling and administrative expense   0
Contribution margin   0
Fixed expenses :-    
Fixed manufacturing overhead    
     
     
Fixed selling and administrative expense   0
Net operating income   $0

Answers

Maurice Tutor
(5)
Status NEW Posted 30 Apr 2018 07:04 PM My Price 9.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------.Pl-----------eas-----------e p-----------ing----------- me----------- on-----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be-----------

Not Rated(0)
Relevent Questions