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# Exercise 6-2 variable costing income statement; explanation of difference in net operating income [lo6-2] ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for \$970. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 200 units sold 180 units in ending inventory 20 variable costs per unit: direct materials \$ 130 direct labor \$ 300 variable manufacturing overhead \$ 30 variable selling and administrative \$ 15 fixed costs: fixed manufacturing overhead \$ 63,000 fixed selling and administrative \$ 25,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales \$ 174,600 cost of goods sold 139,500 gross margin 35,100 selling and administrative expense 27,700 net operating income \$ 7,400 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing.

The wall street journal reported that walmart stores inc. is planning to lay off 2,300 employees at its sam's club warehouse unit. approximately half of the layoffs will be hourly employees (the wall street journal, january 25-26, 2014). suppose the following data represent the percentage of hourly employees laid off for 15 sam's club stores. 55 56 44 43 44 56 60 62 57 45 36 38 50 69 65 (a) compute the mean and median percentage of hourly employees being laid off at these stores. (b) compute the first and third quartiles. (c) compute the range and interquartile range. (d) compute the variance and standard deviation. (e) do the data contain any outliers? (f) based on the sample data, does it appear that walmart is meeting its goal for reducing the number of hourly employees?
Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget.the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total \$772,800, of which \$556,800 is fixed overhead.a total of 119,300 units, using 478,000 direct labor hours, were produced during the year.actual variable overhead costs for the year were \$260,400 and actual fixed overhead costs were \$555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.
Describe what fixed costs and marginal costs mean to a company.
Exercise 6-2 variable costing income statement; explanation of difference in net operating income [...
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