Anchovy, Inc Production Costs Per Case Total $19, Which Consists of $15

question 115

Short Answer

Anchovy, Inc., a producer of frozen pizzas, began operations this year.During this year, the company produced 16,000 cases of pizza and sold 15,000.At year-end, the company reported the following income statement using absorption costing:
$\begin{array}{lr}\text { Sales } ( 15,000 \times\$ 48 ) & \$ 720,000\\\text { Cost of goods sold } ( 15,000 \times \$ 19 ) & \underline { 285,000 }\\\text { Gross margin } &\$ 435,000 \\\text { Selling and adrninistrative } & \underline { 79,000 }\\\text { expenses } &\\\text { Net incorne } & \underline {\$ 356,000 }\end{array}$ Production costs per case total $19, which consists of $15.50 in variable production costs and $3.50 in fixed production costs (based on the 16,000 units produced).Eight percent of total selling and administrative expenses are variable.Compute net income under variable costing.

Critically assess how individual perceptions affect the helpfulness of different social support efforts.

Understand the psychological factors that contribute to obedience and disobedience in social psychology experiments.

Identify the influence of attractiveness on brain reward systems and how it affects person perception.

Recognize the role of attributional biases in interpreting other's behaviors and circumstances.

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Definitions:

Federal Tax Revenues

The income received by the government from taxpayers, including individuals and corporations, used to fund public services and operations.

Cognitive Therapy

A form of psychotherapy that aims to change patterns of thinking or behavior that are causing people's psychological problems.

Behavior Modification

A therapeutic approach that applies principles of learning to change undesirable behaviors into positive behaviors.

Learning Theory

Theories and models that explain how knowledge is absorbed, processed, and retained during the process of learning.