The Records of Count Bases Pizza's Showed the Following What Is the Investing Cash Inflow for Equipment Sold During

question 18

Multiple Choice

The records of Count Bases Pizza's showed the following:
$\begin{array}{lcr}&30 \text { June } 13&30 \text { June } 14\\\text { Pizza ovens and equipment } & \$ 49000 & \$ 53000 \\\text { Accumulated depreciation ovens and equipment } & 10000 & 12000\\\text { Cost of equipment sold } && 5000 \\\text { Carrying value of equipment sold } && 3000 \\\text { Proceeds of sale of equipment } && 4500\end{array}$
What is the investing cash inflow for equipment sold during 2013/14?

• A)Carrying value of equipment sold $3 000
• B)Equipment sold $4 000
• C)Proceeds of sale of equipment $4 500
• D)Cost of equipment sold $5 000

Understand the composition of product costs under variable costing.

Identify which costs are included in the cost of products manufactured under the absorption costing concept.

Distinguish between variable and absorption costing in the treatment of fixed and variable costs.

Recognize how variable and absorption costing impact the income statement presentation, specifically gross profit, contribution margin, and net profit.

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Definitions:

Union League

An organization that supported the Union cause during the Civil War and worked to mobilize the Northern civilian support for the Union Army.

Partisan Organization

A group or entity aligned with a specific political cause or ideology, often working towards advancing those specific political or social agendas.

Terrorist Bands

Groups that engage in acts of terrorism, using violence and intimidation to pursue political goals.

Presidential Reconstruction

The period immediately following the Civil War, wherein Presidents Abraham Lincoln and Andrew Johnson attempted to reintegrate the Southern states back into the Union with minimal changes to their social systems.