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Accounting homework help

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Polk Company builds custom fishing lures

Polk Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2012, the company incurred the following costs.

Variable Cost per Unit

Direct materials    $7.50

Direct labor    $2.45

Variable manufacturing overhead    $5.75

Variable selling and administrative expenses    $3.90

Fixed Costs per Year

Fixed manufacturing overhead $234,650

Fixed selling and administrative expenses $240,100



Variable vs Absorption Costing

I. Write a paper of no more than 350 words after completing Exercise 19-17 in WileyPLUS in which you respond to the following questions:

• In this case, would it be better to use the variable or absorption costing method, and why?

• What are the benefits of the two methods?

• Which method would lead to the best decision when a competitor is submitting a lower bid for your product?

• Compute product cost and prepare an income statement under variable and absorption costing.

ACC Assignment

1. Comprehensive budgeting

The balance sheet of Watson Company as of December 31, 20X1, follows.

WATSON COMPANY

Balance Sheet

December 31, 12X1 

The following data (in thousands of dollars) have been taken from the accounting records of Larop Corporation

The following data (in thousands of dollars) have been taken from the accounting records of Larop Corporation for the just-completed year:

 

Sales................................................................. $910

Purchases of raw materials...............................$225

Direct labor........................................................$245 

Manufacturing overhead...................................$265 

Administrative expenses...................................$150 

A cement manufacturer has supplied the following data:

A cement manufacturer has supplied the following data:

 

Tons of cement produced and sold                                  220,000

 

Sales revenue                                                               $924,000

 

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Instead Whitney Mercilus Jersey

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