What amount should have been reported, Accounting Basics

+44 141 628 6080
[email protected]

What amount should have been reported

During its most recent fiscal year, Simon Enterprises sold 400,000 electric screwdrivers at a price of $21.00 each. Fixed costs amounted to $1,600,000 and pretax income was $2,000,000. What amount should have been reported as variable costs in the company's contribution margin income statement for the year in question?

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What amount should have been reported

Reference No:- TGS0702296

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : How many grams of water cooled by the evaporation

How many grams of water can be cooled from 43'C to 22'C by the evaporation of 60 g of water? The heat of vaporization of water in this temperature range is 2.4 kJ/g.

Q : Is the force attractive or repulsive

Two long, parallel wires separated by 3.50 cm carry currents in opposite directions. The current in one wire is 1.60 A, and the current in the other is 3.45 A. Is the force attractive or repulsive?

Q : Explain the unique item ordered

A company estimates that ordering costs are $2.00 per order, picking costs are $1.00 per unique item ordered, packing costs are $0.07 per item, and return costs are $40.00 per return.

Q : Draw structure of product of organic reactions

Draw the structure of the product of each of these organic reactions: Reaction of Methanol and aqueous Potassium permanganate.

Q : What amount should have been reported

During its most recent fiscal year, Simon Enterprises sold 400,000 electric screwdrivers at a price of $21.00 each. Fixed costs amounted to $1,600,000 and pretax income was $2,000,000.

Q : How much heat is released

When one mole of solid NaOH is dissolved in 1L of solution, 44.5kj of heat are released. How much heat is released when 1.00g of NaOH is dissovled in 100.0mL of water?

Q : Describe the variable costs per unit

A product sells for $255 per unit, and its variable costs per unit are $153. The fixed costs are $416,000. What is the break-even point in dollar sales?

Q : Discuss the effect of disposal on the accounting equation

As part of a major renovation at the beginning of the year, Hauser Pharmaceuticals, Inc., sold shelving units (store fixtures) that were 10 years old for $1,000 cash.

Q : What is the net operating income

Reed Company's sales last year totaled $167,000 and its return on investment was 10.40%. If the company's turnover was 2.60, then its net operating income for the year must have been?

1948882

Questions
Asked

3,689

Active Tutors

1447429

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

How perception refers to herself as a gestalt psychologist

A psychologist who specializes in the study of perception refers to herself as a Gestalt psychologist.

Practicing independent behavior analyst

As a practicing independent Behavior Analyst, you have received an email from a staff member representing a provider of education

How should one break down the steps in a complex behavior

How should one break down the steps in a complex behavior such that they can be trained using forward or backward chaining?

Illustrate the difference in cognitive performance

Question: Which difference in cognitive performance is supported by scientific evidence?

Journal articles focus on treatment of addictive behaviors

Locate several journal articles that focus on the treatment of addictive behaviors. First, choose one of the following interventions:

Review the documentary series - the baby human

Watch the following clip from the documentary series "The Baby Human: To FeelLinks to an external site."

Potential contributing factor to schizophrenic episodes

Question: Which event in Mark Vonnegut's life is noted as a potential contributing factor to his schizophrenic episodes?