Question:What is a business segment? Give some examples.
A business segment is a separate chain of a business.
A business segment is a separately identifiable chain that extracts revenue from the sale of goods or rendering of services.
A business segment is an identifiable part of the firm for which financial information is available. The business segment can be segmented by customer (commercial and residential), geography (domestic and international), Products, etc.
Question: Preparing variable costing income statements, production less than sales
Refer to your answers to Exercise E21-16. In May 2018, ReVitalAde produced 22,000 cases of powdered drink mix and sold 23,000 cases, of which 1,000 were produced in April. The sales price was $29, variable costs were $12 per case ($9 manufacturing and $3 selling and administrative), and total fixed costs were $100,000 ($91,000 manufacturing and $9,000 selling and administrative).
Question: Preparing absorption costing income statements, production exceeds sales
Refer to Exercise E21-16.
94% of StudySmarter users get better grades.Sign up for free