# Required information The following information applies to the questions displayed below) Oak Mart, a producer of...

###### Question:

Required information The following information applies to the questions displayed below) Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. 319 per unit 110,000 units 113,250 units 3,250 units $455,000 260,000 715,000$ Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,250 units x $140) Fixed (3,250 units X$80) Total Manufacturing costs this year Direct materials Direct labor Overhead costs this year Variable overhead Fixed overhead Selling and administrative costs this year Variable Fixed 44 per unit 62 per unit $3,400,000 57,400,000$1,400,000 4,400,000
2. Prepare the current year income statement for the company using absorption costing. art 2 of 2 OAK MART COMPANY Absorption Costing Income Statement $35,107,500 nts Sales Less: Cost of goods sold Beginning inventory Manufacturing costs this year Direct materials Direct labor Variable overhead costs Fixed overhead costs 4,840,000 4,840 6,820,000 3,400,000 7400,000 Cost of goods sold Gross margin 22,460,000 11,932,500 Net Income (loss) 5 6,132,500 Number of units added to subtracted from) inventory Fixed costs added to(subtracted from) inventory 1. Prepare the current-year income statement for the company using variable costing. OAK MART COMPANY Variable Costing Income Statement of 2 35107500 Sales Less: Variable costs Beginning inventory Variable costs 11 6.820 000 4.840.000 Fixed costs Manufacturing costs this year Direct materials Direct labor [ 4.840,000 6,820,000 3,400,000 26.720,000 Variable overhead costs Total variable costs available Less: Ending finished goods inventory Variable cost of goods sold Variable selling and administrative expenses 18.192.500 Total variable costs Contribution margin Less: Fixed expenses Beginning inventory Fixed overhead costs Fixed selling and administrative costs Total fixed expenses$ 260,000 7400 000 4 400.000 12.060.000 \$ 6.132.500 Net income (loss)

#### Similar Solved Questions

##### REPORT SHEET EXPERIMENT Colorimetric 22 Determination of an Equilibrium Constant in Aqueous Solut...
Determination of the equilibrum constant REPORT SHEET EXPERIMENT Colorimetric 22 Determination of an Equilibrium Constant in Aqueous Solution A. Preparation of the Calibration Curve Concentration of Fe(NO,), in 0.10 M HNO, solution Concentration of NaSCN in 0.10 M HNO, solution Y Y Flask Number...
##### Question 26 (2.5 points) Saved Which psychotherapy is likely most effective in treating phobias? Psychoanalysis Behavior...
Question 26 (2.5 points) Saved Which psychotherapy is likely most effective in treating phobias? Psychoanalysis Behavior therapy Humanistic therapy None of the above Question 23 (2.5 points) A token economy is to operant conditioning as conditioning. is to classical systematic desensitization active...
##### How do you solve x+ y = - 6 and 4x + y = 3?
How do you solve x+ y = - 6 and 4x + y = 3?...
##### What is the mathematical condition prevailing when the consumer sets its optimum combination of (two) goods...
What is the mathematical condition prevailing when the consumer sets its optimum combination of (two) goods he/she consumes. What is the adjustment process if this condition does not prevail? Why would there be utility gain as the individual moves toward the optimum—w/o spending more of his/he...
##### Help please I would appreciate it. Required information The Foundational 15 (LO2-1, LO2-2, LO2-3, LO2-4) (The...
help please I would appreciate it. Required information The Foundational 15 (LO2-1, LO2-2, LO2-3, LO2-4) (The following information applies to the questions displayed below.) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufactu...
##### Why is nursing important to patient satisfaction and how that satisfaction impacts healthcare
why is nursing important to patient satisfaction and how that satisfaction impacts healthcare...
##### To calculate the torsional strain energy of the shaft with constant cross-section area below, we use...
To calculate the torsional strain energy of the shaft with constant cross-section area below, we use the correct equation for every segment (0.5 m each) between the applied torques and sum up the result. The correct equation is: 900 N.m 200 N.m 0.5 m 300 N·m 0.5 m 0.5 m MPL 2EI M2 2GJ TML 2GJ...
##### Normal text Arial 12. y BIU A 15 21 3. 4. 5. 6 1-What is the...
Normal text Arial 12. y BIU A 15 21 3. 4. 5. 6 1-What is the formal charges on B and Br (with double bond) in the following structure? a) 0,0 b) +1, + 1 C) -1, +1 d) 0, +1 :Br: Il B : Br Br: .. 2- The polarity of a covalent bond is due to (a) lesser electronegativity difference between two atoms (b)...
##### An egg is thrown nearly vertically upward from a point near the cornice of a tall...
An egg is thrown nearly vertically upward from a point near the cornice of a tall building. It just misses the cornice on the way down and passes a point 23.9 m below its starting point 6.70 s after it leaves the thrower’s hand. Air resistance may be ignored. c) What is the magnitude of the ve...
##### 8) A buffer solution is formed by adding 0.0100 moles of potassium dihydrogen phosphate (KH2PO4) and...
8) A buffer solution is formed by adding 0.0100 moles of potassium dihydrogen phosphate (KH2PO4) and 0.0100 moles of potassium hydrogen phosphate (K2HPO4) into 1.000 liters of water. When 0.0010 moles of NaOH is added to this solution, what will happen? The pH of the solution will decrease by a larg...
##### Can I get some help to solve both these questions please , thank you (b) Answer...
Can I get some help to solve both these questions please , thank you (b) Answer ALL parts (i) - (iii) The resorcinarene derived 4 folds into a deep (8 x 10 Å) open-ended cavity as shown below Et Et HN Et Et Et Et Et O- H O H-No H-N Et NH HN Et Et (i) Indicate the main supramolecular interactio...
##### Interconverting the wavelength and frequency of electromagn A VHF television station assigned to channel 9 transmits...
Interconverting the wavelength and frequency of electromagn A VHF television station assigned to channel 9 transmits its signal using radio waves with a frequency of 186. MHz. Calculate the wave Round your answer to 3 significant digits. x ?...
##### Find the orthogonal trajectories of the family of curves. (Use C for any needed constant.) y...
Find the orthogonal trajectories of the family of curves. (Use C for any needed constant.) y = 18k х Use a graphing device to draw several members of each family on a common screen. y у 4H y -4 Need Help? Read It Watch It Talk to a Tutor...
##### What are the nominal and effective costs of trade credit under the credit terms of 3/20,...
What are the nominal and effective costs of trade credit under the credit terms of 3/20, net 40? Assume a 365-day year. Do not round intermediate calculations. Round your answers to two decimal places. Nominal cost of trade credit: % Effective cost of trade credit: %....
##### How to solve 2, A spherical shell is made of dielectric material with relative permittivity εR...
how to solve 2, A spherical shell is made of dielectric material with relative permittivity εR and contains a uniform free charge density pF. The inner radius of the shell is R1 and the outer radius is R2 a. What is D in the material that makes up the shell? b. What is E in the material ...