Answer:
Axe Corporation
Journal Entries:
Feb. 6 Debit Inventory $1,200
Credit Accounts payable (Green) $1,200
To record the purchase of goods with terms 2/10, n/30.
Feb. 6 Debit Inventory $900
Credit Accounts payable (Munoz) $900
To record the purchase of goods with terms 2/10, n/30.
Feb. 14 Debit Accounts payable (Green) $1,200
Credit Cash $1,176
Credit Cash Discounts $24
To record the payment on account with discounts.
Feb. 20 Debit Accounts payable (Munoz) $900
Credit Cash $900
To record full settlement on account.
Feb. 28 Debit Inventory $350
Credit Accounts payable (Reynolds) $350
To record the purchase of goods with terms n/45.
Explanation:
a) Data and Analysis:
Feb. 6 Inventory $1,200 Accounts payable (Green) $1,200
with terms 2/10, n/30.
Feb. 6 Inventory $900 Accounts payable (Munoz) $900
with terms 2/10, n/30.
Feb. 14 Accounts payable (Green) $1,200 Cash $1,176 Cash Discounts $24
Feb. 20 Accounts payable (Munoz) $900 Cash $900
Feb. 28 Inventory $350 Accounts payable (Reynolds) $350
with terms n/45.
VICTORIA COMPANY CVP Income Statement For the Month Ended April 30, 2020 Total Per Unit Sales (9,000 units) $450,000 $50 Variable costs 225,000 25.00 Contribution margin 225,000 $25.00 Fixed expenses 184,950 Net income $40,050 Management is considering the following course of action to increase net income: Reduce the selling price by 5%, with no changes to unit variable costs or fixed costs. Management is confident that this change will increase unit sales by 20%. Using the contribution margin technique, compute the break-even
Answer:
Follows are the solution to the given question:
Explanation:
In this question, we assume that there is no change in selling price.
So,
[tex]\text{Break-even point}\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \frac{184950}{25}\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 7398\ units\\\\\text{Break-even point} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 7398\times 50 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 369900\\\\ \text{Margin of safety}\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 450000-369900 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 80100\\\\[/tex]
Buff is considering a new packaging machine. The initial cost is $10,000 and we would save $4,000 per year in labor costs. If our MARR is 12% and our projects must have a 3-year discounted payback period, should we purchase this packaging machine?
Yes
No
Not enough nformation to answer.
Answer:
NO
Explanation:
Discounted payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative discounted cash flows
For the machine to be accepted, the total amount invested should be recovered in three years or less
Amount recovered = - cost of the project + discounted value of the cash flow
Amount recovered in year 1 = -10,000 + (4000 / 1.12) = -6,428.57
Amount recovered in year 2= -6,428.57 - (4000/ 1.12^2) = -3239.74
Amount recovered in year 3= -3239.74 + (4000/ 1.12^3) = -392.62
the project would not be accepted because the amount invested would not be recovered within 3 years
On September 1, Home Store sells a mower (that costs $320) for $620 cash with a one-year warranty that covers parts. Warranty expense is estimated at 8% of sales. On January 24 of the following year, the mower is brought in for repairs covered under the warranty requiring $43 in materials taken from the Repair Parts Inventory. Prepare the September 1 entry to record the mower sale (and cost of sale) and the January 24 entry to record the warranty repairs. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet 3 4 Record the cost of mower sales. Note: Enter debits before credits. General Journal Debit Credit Date Sep 01 Record entry Clear entry View general journal
Answer:
Sep 1
Dr Cash $620
Cr Sales revenue $620
Sep 1
Dr Cost of Goods Sold $320
Cr Inventory $320
Sep 1
Dr Warranty expense $47
Cr Estimated warranty liability $47
Jan 24
Dr Estimated warranty liability $43
Cr Repair parts inventory $43
Explanation:
Preparation of the September 1 entry to record the mower sale (and cost of sale) and the January 24 entry to record the warranty repairs
Sep 1
Dr Cash $620
Cr Sales revenue $620
( To record sale )
Sep 1
Dr Cost of Goods Sold $320
Cr Inventory $320
(To record costs)
Sep 1
Dr Warranty expense $47
Cr Estimated warranty liability $47
($620*8%)
(To record Warranty expense )
Jan 24
Dr Estimated warranty liability $43
Cr Repair parts inventory $43
(To record Warranty incurred)
Answer:
Explanation:
1 September:
Dr Cash $620
Cr Sales revenue $620
(To record cash receipt from mower sale)
1 September:
Dr Cost of goods sold $320
Cr Finished goods inventory $320
(Cost of mower sale recorded)
1 September:
Dr Warranty expense $49.60
Cr Warranty liability $49.60
(To record estimated warranty expense)
24 January:
Dr Warranty liability $43.00
Cr Repair Parts Inventory $43.00
(To record cost of warranty repairs)
Calculation:
Warranty Expense = Sales Revenue × Estimated Warranty Expenses
= $620 × 8%
= $49.60
Each of Professor A and Professor B at UTD has a private secretary, who can type four letters per hour. The letters are generated at a rate of three per hour by each of the two professors, who have been wondering if they would benefit from pooling the two secretaries. Perform a queuing analysis. What is the average waiting time of a letter in the system.
Answer:
Average waiting time = 7.5 minutes
Explanation:
UTD private secretary can type the number of letters = 4 per hour by each.
By professor, the letter generated = 3 per hour by each
Thus by pooling the average time will be the time that comes by dividing the one hour with total letters in an hour.
Use the below formula:
Average waiting time = Minutes in one hour / total letters
Average waiting time = 60 / 8
Average waiting time = 7.5 minutes
A group of workers normally consists of 60 men, 30 women and 20 boys. They are paid at standard hourly rates as under:
Men Rs. 280.00
Women Rs. 160.00
Boys Rs. 140.00
In a normal working week of 40 hours, the group is expected to produce 5,000 units of output.
During the week ending on March 21, 2021 the group consisted of 70 men, 25 women, and 25 boys. The actual wages paid were Rs. 270, Rs. 165 and Rs. 130 respectively. 4,500 units were produced.
The Company is using Flexible Budgeting.
Calculate:
2(a) Labour cost variance
2(b)Labour rate variance
2(c) Labour efficiency variance
Given:
Standard Number of men = 60
Standard Number of women = 30
Standard Number of boys = 20
Standard hour rate for men = R.s 280
Standard hour rate for women = R.s 160
Standard hour rate for boys = R.s 140
Weekly working hour = 40 hours
Expected unit = 5,000 units
Number of men in march week = 70
Number of women in march week = 25
Number of boy in march week = 25
Actual wage for men = R.s 270
Actual wage for women = R.s 165
Actual wage for boys = R.s 130
Actual units = 4,500 units
Find:
Labour cost varianceLabour rate varianceLabour efficiency varianceComputation:
Labour cost variance = [SC for AO] - AC
Labour cost variance = [( 70 × 280) + (25 × 160) + (25 × 140)] - [(70 × 270) + (25 × 165) + (25 × 130)] × 40
Labour cost variance = (27,100 - 26,275 ) × 40
Labour cost variance = R.s 33,000 (F)
Labour rate variance = (SR - AR) × AH worked
Labour rate variance = [(280 - 270)70 + (160 - 165)25 + (140 - 130)25]40
Labour rate variance = [700 - 125 + 250]40
Labour rate variance = [825]40
Labour rate variance = R.s 33000 (F)
Labour efficiency variance = (SH allowed - AH worked)SR
Labour efficiency variance = (0 - 0)SR
Labour efficiency variance = 0
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a granary allocates the cost of unprocessed wheat to the production of feed flour and starch 100000. how much of the 120000 cost should be allocated to feed if the value basis is used
Question is incomplete : Find complete version in the comment section:
Answer:
$42,000
Explanation:
Product __ pound ___ price/pound ____ value
Feed ___ 100000 ____ 0.70 ________ 70000
Flour ___ 50000 _____ 2.20 ________ 110000
Starch __ 20000 _____ 1.00 ________ 20000
Total value _____________________ 200000
In value basis :
Feed's percentage of total value :
(Feed value / total value) * 100%
(70000 / 200000) * 100%
0.35 * 100% = 35%
Feed percentage * joint cost
35% * 120,000 = 42,000
PET Co. owns 80% of the common shares of SAL Corp. PET has no other investments. Goodwill associated with the investment is nil, but there is a fair value increment of $62,500 relating to SAL's patent that is being amortized over 10 years. PET's and SAL's reported net income for 20X5 is as follows: PET Co. SAL Corp. Net income $200,000 $50,000 SAL declared $25,000 in dividends in 20X5. Assuming PET uses the cost method, what amount of consolidated net income attributable to the parent (ATP) would be reported in 20X5?
a) $210,000
b) $215,000
c) $223,750
d) $235,000
Swifty Corporation manufactures a product with a unit variable cost of $100 and a unit sales price of $176. Fixed manufacturing costs were $480000 when 10000 units were produced and sold. The company has a one-time opportunity to sell an additional 1000 units at $145 each in a foreign market which would not affect its present sales. If the company has sufficient capacity to produce the additional units, acceptance of the special order would affect net income as follows:
Income would increase by $45000.
Income would increase by $3000.
Income would increase by $145000.
Income would decrease by $3000.
Coronado Industries is using the target cost approach on a new product. Information gathered so far reveals:
Expected annual sales 350000 units
Desired profit per unit $0.35
Target cost $168000
What is the target selling price per unit?
a. $0.48
b. $0.35
c. $0.70
d. $0.83
Answer:
1. Swifty Corporation
If the company has sufficient capacity to produce the additional units, acceptance of the special order would affect net income as follows:
Income would increase by $45000.
2. Coronado Industries:
The target selling price per unit is:
d. $0.83
Explanation:
a) Data and Calculations:
Swifty Corporation:
Variable cost per unit = $100
Sales price per unit = $176
Contribution margin per unit = $76 ($176 - $100)
Fixed manufacturing costs = $480,000
Production and sales units = 10,000 units
Revenue from special order = $145,000 ($145 * 1,000)
Variable costs for 1,000 units 100,000 ($100 * 1,000)
Contribution margin $45,000 ($145,000 - $100,000)
Fixed costs for special order $0
Net income = $45,000
Coronado Industries:
Expected annual sales 350,000 units
Desired profit per unit $0.35
Target cost $168,000
Desired profit = $122,500 (350,000 * $0.35)
Total sales revenue = $290,500 ($168,000 + $122,500)
Target selling price per unit = $0.83 ($290,500/350,000)
This year, Gogo Inc. granted a nonqualified stock option to Mrs. Mill to buy 10,000 shares of Gogo stock for $8 per share for five years. At date of grant, Gogo stock was selling on a regional securities market for $7.87 per share. Gogo recorded $26,700 compensation expense for the estimated value of the option. Five years after Gogo granted the option to Mrs. Mill, she exercised it on a day when Gogo stock was selling for $10.31 per share. Required: How much income must Mrs. Mill recognize in the year of exercise
Answer:
Gogo Inc. and Mrs. Mill
The Income that Mrs. Mill must recognize in the year of exercise is:
= $23,100
Explanation:
a) Data and Calculations:
Options given to Mrs. Mill = 10,000 shares of Gogo stock
Exercise price of the options = $8 per share
Period of option exercise = 5 years
Selling price of shares at grant date = $7.87
Selling price of shares at exercise date = $10.31
Compensation expense recorded by Gogo = $26,700
Cost of options to Mrs. Mill = $80,000 (10,000 * $8)
Income that Mrs. Mill must recognize in the year of exercise = $23,100 ($10.31 - $8) * 10,000
Answer:
marco
Explanation:
A project manager forgets to assess how national holidays and team member vacations will affect the project’s completion date. Now, because of team member time off, the project delivery will be two weeks late. What flexible planning strategy could the project manager have used to avoid the delay?
The flexible strategy is used to avoid the delay in assessing the external constraints.
The following information regarding accessing external constraints:
It could be thrust upon an organization.It permits for uncovering the things that are beyond the control.The example involved national holidays or sick leaves.If we accessing the external constraints so the delay could be avoided.
So, The other options seem incorrect
Therefore we can conclude that the flexible strategy is used to avoid the delay in assessing the external constraints.
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To reduce delays in considering external restrictions, a flexible technique is employed. The following details about external limitations are available:
It has the potential to be imposed on a company.It enables us to see what we can't see.National holidays and sick leave were used as examples.The delay may be minimized if we used external limitations.It concludes that the flexible technique is employed in order to prevent a delay in considering external limitations.Therefore, "Assessing external constraints" is correct.
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Inventors in developing countries are usually unable to capture the full benefit of their innovations. They therefore tend to devote too few resources to research. Government can address this problem of under-investment in research by (i) increasing restrictions on trade; (ii) establishing a patent system to provide inventors with exclusive control over their inventions for a period of time; (iii) subsidising the purchase of technology from other countries.
a. only (i) is used.
b. only (ii) is used.
c. only (iii) is used.
d. (i), (ii) and (iii) are all used.
Answer:
establishing a patent system to provide inventors with exclusive control over their inventions for a period of time.this way inventors will devout a lot of resources to research.
I hope this helps and sorry if it's wrong
On January 2, 2021, Cullumber Hospital purchased a $106,000 special radiology scanner from Bella Inc. The scanner had a useful life of 4 years and was estimated to have no disposal value at the end of its useful life. The straight-line method of depreciation is used on this scanner. Annual operating costs with this scanner are $104,000. Approximately one year later, the hospital is approached by Dyno Technology salesperson, Jacob Cullen, who indicated that purchasing the scanner in 2021 from Bella Inc. was a mistake. He points out that Dyno has a scanner that will save Cullumber Hospital $25,000 a year in operating expenses over its 3-year useful life. Jacob notes that the new scanner will cost $110,000 and has the same capabilities as the scanner purchased last year. The hospital agrees that both scanners are of equal quality. The new scanner will have no disposal value. Jacob agrees to buy the old scanner from Cullumber Hospital for $57,500.
(a) Your answer is correct.
If Twilight Hospital sells its old scanner on January 2, 2022, compute the gain or loss on the sale.
(b) Prepare an incremental analysis of Twilight Hospital. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Should Twilight Hospital purchase the new scanner on January 2, 2022?
Answer:
Explanation:
EI lá, nn sou da área da matemática, foi mal
The finished goods inventory on hand on December 31, 2018 was 21,000 units. It is the company's policy to maintain a finished goods inventory at the end of each quarter equal to 20% of the next quarter's anticipated sales. Prepare a production budget for 2019.
Question Completion:
Benet Company has budgeted the following unit sales for 2019 and 2020:
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Quarter 1
Sales units 105,000 60,000 75,000 120,000 90,000
Answer:
Benet Company
Production Budget for 20198:
Quarter 1 Quarter 2 Quarter 3 Quarter 4
Sales units 105,000 60,000 75,000 120,000
Ending inventory 12,000 15,000 24,000 18,000
Units available for
sale 117,000 75,000 99,000 138,000
Beginning inventory 21,000 12,000 15,000 24,000
Production 96,000 63,000 84,000 114,000
Explanation:
a) Data and Calculations:
Budgeted unit sales for 2019 and 2020:
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Quarter 1
Sales units 105,000 60,000 75,000 120,000 90,000
Ending inventory 12,000 15,000 24,000 18,000
Units available for
sale 117,000 75,000 99,000 138,000
Beginning inventory 21,000 12,000 15,000 24,000 18,000
Production 96,000 63,000 84,000 114,000
state and explain five (5) challenges you will encounter as a service marketer.
Explanation:
1.Not finding your market segment
2.Not knowing how to explain the product or dervice you want to sell
Some of the challenges a service marketer faces are:
It being harder to sell a service than a product. The fact that services are perishable. Services being variable which means that others can offer it. Customers being rude. Finding it difficult to find a niche.A service marketer will find it harder to sell a service than a good because services are perishable which means that they cannot be stored like goods. People might therefore not want to buy because they can only use the service once.
Services are also variable which means that several people can offer it at reduced prices which makes it difficult to make a profit. Customers can also be rude.
Some services are also applicable to certain people and finding those people can be difficult to a service marketer.
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On June 30, 2021, Moran Corporation issued $9.0 million of its 8% bonds for $8.1 million. The bonds were priced to yield 10%. The bonds are dated June 30, 2021. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, by how much should the bond discount be reduced for the six months ended December 31, 202
Answer:
$45,000
Explanation:
Calculation to determine by how much should the bond discount be reduced for the six months ended December 31, 202
First step
Semiannual interest paid on 31.12.2021 = $9,000,000*8%*6/12
Semiannual interest paid on 31.12.2021= $360,000
Second step
Effective interest expense on 31.12.2021 = $8,100,000 * 10% * 6/12
Effective interest expense on 31.12.2021= $405,000
Last step
Bond discount to be reduced for 6 months ended 31.12.2021 = $405,000 - $360,000
Bond discount to be reduced for 6 months ended 31.12.2021=$45,000
Therefore by how much should the bond discount be reduced for the six months ended December 31, 202 will be $45,000
________ refers to a method of matching a single project of a company to another company with a single business focus in an effort to assign an appropriate level of risk to the project. A. Outside assignment B. Ghosting C. Subjective assignment D. Pure play
The method that should be matched the individual project of a company to the other company having an individual business focus for allocating a risk level is pure-play.
The information related to the pure-play is as follows:
It is to be focused on one business line only.It is distinct from the expanded companies where there are diversify product lines and revenue sources. It determined the beta coefficient because it compared to the other project as an individual business focus.So it cannot be as the outside assignment, ghosting, and subjective assignment.
Therefore we can conclude that the method that should be matched the individual project of a company to the other company having an individual business focus for allocating a risk level is a pure-play.
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Network externalities: Select one: A. exist when the usefulness of a product increases with the number of consumers who use it B. are created when celebrity endorsements of products lead to a surge in the demand for those products C. can only exist when there are economies of scale D. prevent the dominance of a market by one firm.
Answer:
A. )exist when the usefulness of a product increases with the number of consumers who use it
Explanation:
Network externality can be regarded as a change that occur in benefit as well as in surplus, which is been derived by agent from a good when there is a change in number of other agents that consumes this same type of good. Network externality can as well be regarded as "network effect" this effect is one is that is been had by one user of a good/service on the value of the product with respect to each other people.
It should be noted that Network externalities exist when the usefulness of a product increases with the number of consumers who use it
The company has net sales revenue of $3.6 million during 2018. The company's records also included the following information: Assets 12/31/17 12/31/18 Property, plant and equipment $ 2.3 million $ 2.5 million Licensing agreements $ 0.5 million $ 0.4 million Goodwill $ 0.3 million $ 0.3 million Investments $ 0.4 million $ 0.5 million What is the company's fixed asset turnover ratio for 2018
Answer:
1.5
Explanation:
Calculation to determine the company's fixed asset turnover ratio for 2018
Average Net Fixed Assets=3,600,000/ [(2,300,000 + 2,500,000)/2]
Average Net Fixed Assets=3,600,000/(4,800,000/2)
Average Net Fixed Assets=3,600,000/2,400,000
Average Net Fixed Assets = 1.5
Therefore the company's fixed asset turnover ratio for 2018 is 1.5
Floyd tells his daughter Glenda that she can have his Harley Davidson when he dies, but he does not add this to his will, and he is not on his deathbed. This is
The scenario explained shows that this is not a valid gift.
Some of the criterias for a gift to be considered a valid gift is that there should be a competent donor, an eligible donee, an intention to donate a particular thing and there should be a transfer of possession of that property or thing.
In this case, Floyd tells his daughter that he will give her a particular gift when he dies, but he eventually does not add this to his will.
Therefore, in this case, there's no transfer of possession to the daughter. Therefore, it's not a valid gift.
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Joe had made an agreement with Auto Insurance Co. not to use his van for commercial business purposes when he purchased auto insurance. Joe had an accident while delivering pizzas for Bigger Pizza, Inc. For which type of violation will Joe not be covered under his insurance?
Answer:
.Concealment
Explanation:
From the question we are informed about Joe who had made an agreement with Auto Insurance Co. not to use his van for commercial business purposes when he purchased auto insurance. Joe had an accident while delivering pizzas for Bigger Pizza, Inc. the type of violation that Joe will not be covered under his insurance is Concealment.
Concealment can be regarded as omission of information during insurance process, which would definitely has effect on the issuance as well as the rate of an insurance contract. In a case whereby the insurer is unable to get access to the nondisclosed information and the
nondisclosed information is material as regards the decision-making process, nullification of the insurance contract can be carried out by the insurer.
Vera PLC uses exponential smoothing with trend to forecast monthly sales. At the end of September, Small Industries PLC hopes to forecast sales for October. The trend through August has been 500 additional unit sales per month (Tt-1). Average sales have been 1800 units per month (St-1). The demand for September was 1780 units (AL). Vera PLC uses alpha (a) - 0.2 and Beta (B)-0.3. Note: This Forecasting Question relates to Questions 65-67. Following the first stage of the trend-adjusted exponential smoothing method, smooth the level of the series and calculate St for Vera PLC. (retain your answer and calculation for:________
a) 1985
b) 2563
c) 2196
d) 2144
e) 2373
Answer:
Option c (2196) is the right solution.
Explanation:
Given:
[tex]\alpha = 0.2[/tex]
[tex]\beta=0.3[/tex]
[tex]A_t=1780[/tex]
By using the formula, we get
⇒ [tex]S_t=\alpha\times A_t+(1-\alpha)\times (S_{t-1}+T_{t-1})[/tex]
By substituting the values, we get
[tex]=0.2\times 1780 + (1 - 0.2)\times (1800+500)[/tex]
[tex]=356+0.8\times 2300[/tex]
[tex]=356+1840[/tex]
[tex]=2196[/tex]
In markets where the government imposes an excise tax on unit sales, it also has a tendency to dabble with restrictions on advertising (for example, cigarettes and hard liquor). Do potential (or actual) restrictions on advertising in these markets serve the interest of a government that is interested in maximizing its tax revenue from the sale of these products? Explain your answer
Answer:
I am sorry I don't know sorry again
Capstone Inc. collects 85% of its sales on account in the month of the sale and 15% in the month following the sale. If sales on account are budgeted to be $265,000 for September and $225,000 for October, what are the budgeted cash receipts from sales on account for October? $fill in the blank 1
Answer: $231,000
Explanation:
The budgeted cash receipts in October is:
= (85% * October sales) + (15% * September sales)
= (85% * 225,000) + (15% * 265,000)
= 191,250 + 39,750
= $231,000
A job was budgeted to require 5 hours of labor per unit at $12.00 per hour. The job consisted of 8,100 units and was completed in 37,500 hours at a total labor cost of $489,800. What is the direct labor rate variance
Answer:
3,800 unfavorable
Explanation:
A job was budgeted at 5 hours of labour unit at $12 for an hour
The job consists of 8,100 units
It was completed in 37,500 hours
The total labor cost is $489,800
The direct labor rate variance can be calculated as follows
= 5×12×8100
= 486,000
486,000-489,800
= -3,800(since It has a negative sign it is unfavorable)
= 3,800 unfavorable
You have been tasked with advising the dictator of a nation over what he should do to increase the countries GDP. He suggests printing money and increasing the growth rate of the money supply. He wants to give this newly printed currency to his soldiers and best political supporters. You know this will not increase GDP in the long run because:
I. Money is neutral
II. Increasing the growth of the money supply only causes inflation in the long run
III. He would only increase GDP in the long run if he distributed the money equally to all citizens
IV. He would only increase GDP in the long run only if he printed a large enough sum of money
a. I and II only I
b. II, and III only
c. I, II, III, and IV
d. III only
Answer: a. I and II only
Explanation:
Money is neutral which means that even if you change to supply of money in an economy, it will not translate to an increase in GDP because only the nominal values of things will change (as a result of inflation) while the real values of things like GDP will remain the same.
Increasing the growth of money supply by printing money would also cause inflation in the long run because the money will lose its value like goods do when their supply is increased even though demand does not. A weaker currency needs more units to buy a good which is where the inflation will come from.
TRUE OR FALSE?WHY?
The goods that the enterprise wants or intends to add to its capital stock are inventories.
Answer:
True
Explanation:
Because for their profit
Aureolin Company manufactures toothpaste and packs them in tubes of 250 grams. Standard variable overhead rate (SVOR) $3.90 per direct labor hour Actual variable overhead $79,721 Actual hours worked (AH) 22,290 hours Hours allowed for production (SH) 18,000 hours Determine the variable overhead spending variance.
Answer:
Variable manufacturing overhead spending variance= $7,132.8 favorable
Explanation:
Giving the following information:
Standard variable overhead rate (SVOR) $3.90 per direct labor hour
Actual variable overhead $79,721
Actual hours worked (AH) 22,290 hours
To calculate the variable overhead spending variance, we need to use the following formula:
Variable manufacturing overhead spending variance= (standard rate - actual rate)* actual quantity
Variable manufacturing overhead spending variance= (3.9 - 3.58)*22,290
Variable manufacturing overhead spending variance= $7,132.8 favorable
Actual rate= 79,721/22,290= $3.58
If the importer... the bill
Answer:
sorry
Explanation:
On January 1, 2021, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $101,600. The ending inventory, valued at year-end costs, and the relative cost index for each of the next three years is below:
Year-end Ending inventory at year-end costs Cost Index
2021 $131,040 1.05
2022 150,040 1.10
2023 160,320 1.20
In determining the inventory balance for Badger to report in its 12/31/2022 balance sheet: _____________-
a. An additional layer of $12,760 is added to the 12/31/2021 balance.
b. An additional layer of $24,760 is added to the 12/31/2021 balance.
c. An additional layer of $23,760 is added to the 12/31/2021 balance.
d. None of these answer choices are correct.
Answer:
a. An additional layer of $12,760 is added to the 12/31/2021 balance.
Explanation:
The computation of the inventory balance is given below:
2021 Base year cost is
= $131,040 ÷ 1.05
= $124,800
Additional layer is
= $124,800 - $101,600
= $23,200
2022 Base year cost is
= $150,040 ÷ 1.10
= $136,400
Additional layer is
= ($136,400 - $124,800 ) × 1.10
= $11,600 1.10
= $12,760
Therefore the first option is correct
Pop owns 87% of the common stock of Sugar. On December 31, 2017, Pop's Receivables include $296,880 that Pop advanced to Sugar. What portion (stated in dollars) of the intercompany receivable should be eliminated in preparing Pop's consolidated financial statements
Answer: $296,880
Explanation:
Pop owns more than 50% of Sugar which means that Sugar is a subsidiary of Pop's. When this happens, trade between the two are not shown in the consolidated financial statement unless the goods traded have been sold off to a third party.
As these goods have not, and are still considered accounts receivable to Sugar, the entire amount will be removed from the consolidated financial statements.
