Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. jean peck's furniture manufactures tables for hosp

Jean Peck's Furniture manufactures tables for hospitality sector. It takes only bulk orders and each...

60.1K

Verified Solution

Question

Accounting

image

Jean Peck's Furniture manufactures tables for hospitality sector. It takes only bulk orders and each table is sold for $500 after negotiations. In the month of January, it manufactures 3,100 tables and sells 2,700 tables. Actual fixed costs are the same as the amount of fixed costs budgeted for the month. The following information is provided for the month of January; Variable manufacturing costs $130 per unit Fixed manufacturing costs $105,000 per month Fixed Administrative expenses $30,000 per month At the end of the month Jean Peck's Furniture has an ending inventory of finished goods of 400 units. The company also incurs a sales commission of $13 per unit What is the gross margin when using absorption costing? (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.) A

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

RIs BYOD Good for Business? explain in 500 words.

Programming
Q

The Monty Hall problem is named for its similarity to the Let's Make a Deal television...

Basic Math
Q

POPULATION Time Years A irregular B stable C exponential D cyclical The human population shown...

Biology
Q

Select the correct answer from each drop-down menu.Gene expression in eukaryotes can be regulated at...

Biology
Q

For the following distribution decide whether you expect the mean median or mode to give...

Basic Math
Q

PR 8-3A Bank reconciliation and entries OBJ.S The cash...

Accounting
Q

Price Corporation acquired 100 percent ownership of Saver Company on January 1, 20X8, for $198,000....

Accounting
Q

BAK Corp. is considering purchasing one of two new diagnostic machines. Either machine would make...

Accounting
Q

9.2%. a. Calculate Treynor's measure for Anna's portfolio for the year just ended. ...

Accounting
Q

Context for Question 2: These financial statement items are for Evans Corporation at year-end, December...

Accounting
Q

On 1/1/14, Frank Lucas Inc. had a normal balance in the Allowance for Doubtful Accounts...

Accounting
Q

The Summer Corporation manufactures cellular modems. It manufactures its own cellular modem circuit boards(CMCB), an...

Accounting