Ewing Company Planned to Be in Operation for Three Years

question 55

Essay

Ewing Company planned to be in operation for three years.During the first year, it had no sales but incurred $120,000 in variable manufacturing expenses and $40,000 in fixed manufacturing expenses.In the next year, it sold half of the finished goods inventory from the previous year for $100,000 but it had no manufacturing costs.In the third year, it sold the remainder of the inventory for $120,000, had no manufacturing expenses and went out of business.Marketing and administrative expenses were fixed and totalled $20,000 each year.Required:
a.Prepare an income statement for each year using absorption costing in the gross margin format.
b.Prepare an income statement for each year using variable costing contribution margin format.

Understand the balance between security measures and civil liberties in combating terrorism.

Grasp the strategic considerations and ethical dilemmas in counterterrorism tactics.

Become familiar with controversial counterterrorism practices and their legal and ethical implications.

Understand Reamer's (1986) grounds for policy making and differentiate between ideological, contingent, ethical, and empirical grounds.

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Definitions:

Cost Per Hire

The total expenses incurred by an organization to fill a job vacancy, divided by the number of hires, including advertising, recruiting, and administrative costs.

Direct Costs

Costs directly associated with the manufacture of particular products or services, including labor and raw materials.

Apportioned Costs

Expenses that are divided and allocated among different departments, projects, or processes within an organization based on agreed-upon criteria.

Human Resource Plans

Strategic documents outlining how an organization intends to manage its workforce to meet its business goals, including staffing, development, and compensation strategies.