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Question
Vaughn Co. operates three separate departments (A, B, C). The data below are provided for the current year:
| Total sales | $120,000 | ($40,000 from each department) |
| Cost of goods sold | 80,000 | ( 50% from A; 25% from B; 25% from C) |
| Direct expense | 26,000 | ($6,000 from A; $12,000 from B; $8,000 from C) |
| Indirect expenses | 9,000 | |
Required: Prepare an income statement showing the departmental contributions to overhead for the current year.
Answer
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Related questions
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Periods
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E. A processing further decision cannot be made from the available data.
Q:
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Q:
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Q:
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A. Total cost times markup percentage.
B. Total cost per unit times markup percentage per unit.
C. Total cost per unit divided by markup percentage per unit.
D. Markup percentage per unit divided by total cost per unit.
E. Markup percentage divided by total cost.
Q:
Capital budgeting decisions are generally based on:
A. Tentative predictions of future outcomes.
B. Perfect predictions of future outcomes.
C. Results from past outcomes only.
D. Results from current outcomes only.
E. Speculation of interest rates and economic performance only.
Q:
If net present values are used to evaluate two investments that have equal costs and equal total cash flows, the one with more cash flows in the early years has the higher net present value.