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1)This discussion is designed to get you to see the behavior of costs in companies with which they are familiar

Accounting

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1)This discussion is designed to get you to see the behavior of costs in companies with which they are familiar. You should identify and describe the company. Then, identify three different costs that behave differently. You should identify at least one fixed cost, variable cost and mixed cost and be able to justify their selections.

Think of a company with which you are familiar. Describe the company and their primary product(s)/service(s). Identify a fixed cost, a variable cost, and a mixed cost that company would incur and explain how you determined that those costs would fit those behavior patterns.

2)From the following information of NaNo Company prepare a multi-step income statement For the Year Ended December 31, 2019 (2 marks)

Sales                               $137,460    

Sales Returns       $2,060      

Sales Discounts           $5,190           

Cost of Goods Sold     $62,990        

Freight-Out                   $6,150         

Advertising Expense   $5,790

Sales Commissions Expense   $3,470

Office Salaries Expense          $18,510          

Office Rent Expense $14,000          

Office Supplies Expense         $5,330           

Gains on Sale Equipment        $2,430

Loss on Sales of Investments $1,640

Interest Expense        $930