This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Ireland Corporation planned to be in operation for three years. During the first year, 2017, it had ... (Read 58 times)

Alainaaa8

  • Hero Member
  • *****
  • Posts: 576
on: Mar 6, 2021
Ireland Corporation planned to be in operation for three years. 

∙  During the first year, 2017, it had no sales but incurred $240,000 in variable manufacturing expenses and $80,000 in fixed manufacturing expenses.
∙  In 2018, it sold half of the finished goods inventory from 2017 for $200,000 but it had no manufacturing costs.
∙  In 2019, it sold the remainder of the inventory for $240,000, had no manufacturing expenses and went out of business.
∙  Marketing and administrative expenses were fixed and totaled $40,000 each year. 

 Required: 
a.Prepare an income statement for each year using absorption costing.
b.Prepare an income statement for each year using variable costing. 
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Alainaaa8 on Mar 6, 2021

al

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Mar 6, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


Alainaaa8

  • Member
  • Posts: 576
Reply 2 on: Mar 6, 2021
Thanks for the timely response, appreciate it

JaynaD87

  • Member
  • Posts: 368
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

“Career choice” for many women means leaving their paid jobs for a number of years when they ... “Career choice” for many women means leaving their paid jobs for a number of years when they ...
screen-shot-2017-02-17-at-9-29-16-am.png screen-shot-2017-02-17-at-9-29-16-am.png
screen-shot-2017-02-17-at-9-28-03-am.png screen-shot-2017-02-17-at-9-28-03-am.png
screen-shot-2017-02-01-at-8-35-23-pm.png screen-shot-2017-02-01-at-8-35-23-pm.png
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement ... Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement ...
Video: Cellular Respiration & Glucose Mobilization (Glucose transport & Phosphorylation of Glucose)

For a complete list of videos, visit our video library