Butrico Manufacturing Corporation uses a standard cost system, records materials price variances when direct materials are purchased, and prorates all variances at year-end. Variances associated with direct materials are prorated based on the balances of direct materials in the appropriate accounts, and variances associated with direct labor and manufacturing overhead are prorated to Finished Goods Inventory and to Cost of Goods Sold (COGS) on the basis of the relative direct labor cost in these accounts at year-end.
The following information is for the year ended December 31:
The company had no beginning inventories and no ending Work-in-Process (WIP) Inventory. It applies manufacturing overhead at 80% of standard direct labor cost.
Finished goods inventory at 12/31:
Direct materials
$ 89,610
Direct labor
134,415
Applied manufacturing overhead
107,532
Direct materials inventory at 12/31
65,300
Cost of goods sold for the year ended 12/31:
Direct materials
$ 358,440
Direct labor
761,685
Applied manufacturing overhead
609,348
Direct materials price variance (unfavorable)
10,300
Direct materials usage variance (favorable)
15,450
Direct labor rate variance (unfavorable)
20,600
Direct labor efficiency variance (favorable)
5,150
Actual manufacturing overhead incurred
710,700
Required:
1. Compute the amount of Direct Materials Price Variance to be prorated to Finished Goods Inventory at December 31.
2. Compute the total amount of direct materials cost in the Finished Goods Inventory at December 31, after all materials variances have been prorated.
3. Compute the total amount of direct labor cost in the Finished Goods Inventory at December 31, after all variances have been prorated.
4. Compute the total Cost of Goods Sold (COGS) for the year ended December 31, after all variances have been prorated.
Direct Materials price variance ?
Direct Materials cost ?
Direct Labor Cost ?
Cost of goods sold ?
Answers
The amount of Direct Materials Price Variance to be prorated to Finished Goods Inventory at December 31 is $10,300 (unfavorable).
The total amount of direct materials cost in the Finished Goods Inventory at December 31, after all materials variances have been prorated, is $65,300.
The total amount of direct labor cost in the Finished Goods Inventory at December 31, after all variances have been prorated, is $134,415.The total Cost of Goods Sold (COGS) for the year ended December 31, after all variances have been prorated, is $1,737,483.
1 The Direct Materials Price Variance to be prorated to Finished Goods Inventory is the amount of the unfavorable variance, which is $10,300. This variance represents the difference between the actual price paid for materials and the standard price, indicating that materials were purchased at a higher cost than expected.
2 The total direct materials cost in the Finished Goods Inventory at December 31 is $65,300. This includes the actual cost of direct materials ($89,610) and the unfavorable Direct Materials Price Variance ($10,300), which is prorated to the Finished Goods Inventory.
3 The total direct labor cost in the Finished Goods Inventory at December 31 is $134,415. This amount represents the actual direct labor cost incurred during the year. There are no labor variances mentioned in the given information, so the total direct labor cost remains unchanged.
4 The total Cost of Goods Sold (COGS) for the year ended December 31 is $1,737,483. This includes the actual direct materials cost ($358,440), actual direct labor cost ($761,685), applied manufacturing overhead ($609,348), and the unfavorable Direct Materials Price Variance ($10,300), which is prorated to the COGS. The variances related to direct labor and manufacturing overhead are prorated to Finished Goods Inventory, not included in COGS.
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Related Questions
The _____ reports the financial position of a firm by identifying and reporting the value of the firm's assets, liabilities, and owners' equity.
Answers
Answer:
balance sheet
Explanation:
PLEASE HELPPP!!!!
Emily has decided to close her business and sell off her assets. Her Capital balance before liquidation
is $30000. Assets valued at $35000 were sold for $16000 in cash. The total liabilities of $5000 were
paid in full. She paid the liquidator $1000. After liquidation of her assets and liabilities, what would
be Emily's Capital balance? Explain your answer by showing your calculations?
Answers
Emily's Capital balance is $10,000
Capital can be defined a the assets which a business owner own in a business such as:
•Machinery
•Cash
•Land and Building
•Factory Equipment
•Office Equipment.
•Account Receiveble
Using this formula
Capital Balance=Assets - Liabilities
Where:
Assets=$16,000
Liabilities=$5,000+$1,000=$6,000
Let plug in the formula
Capital Balance=$16,000-($5,000+$1,000)
Capital Balance=$16,000-$6,000
Capital Balance=$10,000
Inconclusion Emily's Capital balance is $10,000.
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Excuse me,
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ง ง
Answers
Explanation:
explain internal economics and internal diseconomics
Answers
Answer:
These are the cost advantage that an organization obtains due to their scales of operation . Diseconomies are the cost disadvantages that firms build up due to an increase in firm size or output . This result in the production of goods and services at increased per unit costs . Economics of scale leads to cost reduction .
Explanation:
Thaats what upp
Answer:
These occur when mass producing a good results in lower average cost. Economies of scale occur within an firm (internal) or within an industry (external). Internal Economies of Scale - As a business grows in scale, its costs will fall due to internal economies of scale.
Explanation:
The times interest earned ratio is calculated by dividing net income by interest expense true or false
Answers
The answer is false. The times interest earned ratio is calculated by dividing earnings before interest and taxes (EBIT) by interest expense.
The times interest earned ratio is a financial ratio that measures a company's ability to pay its interest expenses.
It is calculated by dividing EBIT by interest expense.
A high times interest earned ratio indicates that a company is able to easily cover its interest expenses.
Net income is the profit that a company makes after paying all of its expenses, including interest expense. However, the times interest earned ratio is not calculated using net income because it can be affected by non-recurring items, such as one-time gains or losses.
EBIT is a better measure of a company's ability to pay its interest expenses because it is not affected by non-recurring items.
The times interest earned ratio is a useful tool for investors and creditors to assess a company's financial health. A high times interest earned ratio indicates that a company is able to easily cover its interest expenses and is therefore less likely to default on its debt.
However, a low times interest earned ratio does not necessarily mean that a company is in financial trouble. There are other factors that can affect a company's ability to pay its interest expenses, such as the amount of debt it has and the interest rate on its debt.
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24. The company is considering two independent projects with an initial cost of $18,000 each. The cash inflows of Project A are $3,000, $7,000, and $10,000 for Years 1 to 3, respectively. The cash inflows for Project B are $3,000, $7,000, and $15,000 for Years 1 to 3, respectively. The required return is 12 percent and the cutoff discounted payback period is 3 years. Based on discounted payback, which project(s), if either, should be accepted
Answers
Answer: Project B
Explanation:
To find out the project that should be accepted based on the discount rate and the cut-off discounted payback periods, find the present value of the three year cashflows of each project. If it is larger than the initial investment then it should be accepted:
Project A
= 3,000 / (1 + 12%) + 7,000 / (1 + 10%)² + 10,000 / (1 + 12%)³
= $15,376.73
Project A's present value is less than the initial investment of $18,000 so it should not be chosen.
Project B
= 3,000 / (1 + 12%) + 7,000 / (1 + 10%)² + 15,000 / (1 + 12%)³
= $18,935.63
Project B's present value is larger than the initial investment of $18,000 so it should be chosen.
Can someone co-sign on multiple car loans?
I want to get a car right now, but my mom is co-signing on my sister's car. Is she able to co-sign on my car loan as well, or can she only co-sign on one?
Answers
Answer:
Yes
Explanation:
I believe so as long as you do the credit check and as long as you can afford the price you should be fine.
I am not 100% sure but I am pretty sure you can. Make sure you get others answers before making a definite decision.
Hope this helps and if it does, don't be afraid to give my answer a "Thanks" and maybe a Brainliest?
Answer:
She should be allowed to co-sign both of you.
Explanation:
Disclaimer: Not an expert on this topic, but can give you relevant info I found.
I goog.led it and it said that she can infact co-sign both of you if she has good enough credit history and is financially stable. Here's the websites that say that:
"You can even co-sign multiple car loans at the same time."
https://www.autocreditexpress.com/blog/can-i-cosign-if-i-have-a-car-loan-already/
https://itstillruns.com/can-cosign-multiple-cars-7746994.html
P.s. the car dealer you go to can also clarify these things more clearly or your bank would be more credible so feel free to reach out to them.
the strategic model of corporate social responsibility conceives social responsibility as part of the very mission or strategy of the firm.
Answers
The strategic model of corporate social responsibility (CSR) is based on the idea that social responsibility should be integrated into a company's overall business strategy and mission. This model views CSR as an opportunity for businesses to create shared value for both the company and society as a whole.
How does corporate social responsibility work?CSR is a wide corporate idea that applies to many different company practices. It typically refers to a company's dedication to conducting business ethically. This entails managing their commercial operations while considering the human rights, and social, economic, and environmental impacts.
According to the strategic CSR model, a company should identify and prioritize social and environmental issues that are relevant to its business operations and stakeholders, and develop strategies and initiatives to address these issues. By doing so, a company can not only improve its social and environmental impact, but also enhance its reputation, attract and retain customers and employees, reduce risks, and create new business opportunities.
In contrast to other models of CSR, such as the philanthropic model or the compliance model, the strategic model sees social responsibility as a strategic business imperative rather than a separate or optional activity. This approach acknowledges that companies have a responsibility to create long-term value for all stakeholders, including shareholders, employees, customers, suppliers, and the broader community and environment in which they operate.
Overall, the strategic model of CSR recognizes that social responsibility is not just a matter of ethics or compliance, but an integral part of a company's mission and strategy for long-term success and sustainability.
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List parts of a thermometer
Answers
Answer: look at the pic in corner. haha sorry I just wanted to finish my goal. hope it helps!! :)
This is for business studies
How do national factors affect a pharmacy
This is what they're looking for.
National Factors
Give a brief sentence stating what and how factors can affect a business.
Now list all the National factors that could affect a business and THAN how national factors can affect YOUR start up business (provide detail with current examples e.g. exchange rates).
Answers
I can help with the pharmacy one.
Different countries require different certifications and inspections for pharmacies. Some medicine may not even be allowed in that country, meaning some medicines may not be sold, resulting in less sales. As well as that, the taxes paid may be different, affecting profit after tax. Aditionally, different currencies mean exchange rates can add extra expenses and different languages affect marketing.
in a quiz for Marks and given for correct answer and negative marks are given for incorrect answer if Jacks score 20 five successive rounds 25,-5,-10,15 and 10, what was total at the end
Answers
Answer:
35
Explanation:
I believe he has 35 marks at the end but I could be wrong.
in centralized companies, many important decisions are made at lower levels of the hierarchy.
Answers
In centralized companies, many important decisions are made at higher levels of the hierarchy, rather than at lower levels.
Centralized organizations have a top-down decision-making structure, where senior management makes strategic decisions and passes them down to lower-level employees for implementation. This approach helps maintain a unified vision and control across the company, ensuring that all departments and teams are working towards the same goals and objectives.
However, this centralized structure can sometimes lead to slower decision-making processes, as information and ideas must be passed up and down the hierarchy. In contrast, decentralized organizations empower lower-level employees to make decisions, fostering a more agile and adaptable approach. Decentralized companies often encourage creativity and innovation, as employees at various levels can contribute to problem-solving and decision-making.
While centralized companies have their advantages, such as a clear chain of command and consistent decision-making, they can face challenges in terms of adaptability and responsiveness. It is important for companies to evaluate their organizational structure and decision-making processes to ensure that they are effective and aligned with their overall business strategy.
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true or false: cumulative voting means board members are elected one at a time, with each shareholder casting his or her allotted votes for each seat on the board.
Answers
False, cumulative voting means board members are elected one at a time, with each shareholder casting his or her allotted votes for each seat on the board.
Why should tiny shareholders favor a cumulative vote over a straight vote?Minority shareholders benefit from cumulative voting because it improves their power to choose a director. In contrast to straight voting, cumulative voting allows shareholders to vote for a single candidate with all of their votes. There are two primary types of majoritarian systems, one that uses ranked voting in a single election and the other that uses numerous elections to gradually reduce the number of candidates. Both are typically applied to constituencies with a single member. Shareholders can focus their votes for a single candidate they support by using cumulative voting.
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1. ____ includes studying what people want and designing a product's packaging
A.Marketing
B.Management
2.Shopping at Walmart and paying cash for your purchases is a marketing strategy called ____
A.Promotion
B.Pricing
Answers
2. pricing
Rising interest rates have made borrowing more costly to consumers. As a result
of the most recent increase in interest rates, borrowing and consumption have
fallen throughout the economy, triggering a contractionary period. Growing
uneasy, citizens have been asking Congress to make an official statement as to
how long this contractionary period is expected to last. Which of the following is
an appropriate response?
Answers
Answer:
it depends on the measures taken to ensure that economy is stable.
Answer:
1. it is difficult to say since contractionary periods have varying lengths in different business cycles.
2. shock
3. high unemployment
4. two
5. expansion stage of the business cycle
Explanation:
just took it
At what rate per cent per annum will 4000 yield an interest of 410 in 2 years?
Answers
Answer:
5%
Explanation:
The applicable formula is A = P( 1 + r) ^ n
where A= amount: P is the principal, r, interest rate, n time
In this case,
A = principal + interest = Rs 410 { Rs 4000 + Rs410}
P= Rs 4000
r= ?
n= 2
r is?
4410 = 4000(1 + r) ^2
(1 + i)^ 2 = 4410/4000
(1 + i)^ 2 = 1.1025
1 + i = √1.1025
1 + i = 1.05
i = 1.05 - 1
i = 0.05
0.05 × 100 = 5%
Money, Banking, and the Federal Reserve System - End of Chapter Problem a. Show the changes to the T-accounts for the Federal Reserve when the Federal Reserve sells $30 million in U.S. Treasury bills. Assets Liabilities Treasury bills +30 million Monetary base +30 million Treasury bills - 30 million Monetary base-30 million Answer Bank b. Show the changes to the T-accounts for commercial banks when the Federal Reserve sells $30 million in U.S. Treasury bills. Assets Liabilities Answer Bank Treasury bills 30 million Reserves - 30 million Treasury bills 30 million Reserves 30 million c. If the public holds a fixed amount of currency (so that all new loans create an equal amount of checkable bank deposits in the banking system) and the minimum reserve ratio is 5%, by how much will the money supply change in response to this open market operation? Enter your answer in terms of millions of dollars. Total change in money supply: $ million
Answers
a) The Federal Reserve sells $30 million worth of T-Bills to commercial banks.
b) There won't be any "immediate" changes made to its liabilities.
c) The commercial banks' T-account will ultimately change when the money supply falls by $600 million.
a) Commercial banks purchase T-Bills worth $30 million from the Federal Reserve. As the money is deducted from the bank's reserve account, the Federal Reserve's assets, which are T-bills, will decline by $30 million (-$30 million), and its liabilities, which are the monetary base and reserves of the banks, will likewise decrease by $30 million (-$30 million).
Consequently, the initial adjustment to the Federal Reserve T-account following the sale of the T-Bill is
Federal Reserve assets equal Treasury Bills less than $30 million.
Federal Reserve liabilities equal the monetary base minus $30 million.
b) According to the Commercial Bank, while its assets in the form of T-Bills will rise (by +$30 million), its assets in the form of cash reserves will fall (by -$30 million), so reducing the quantity of money in circulation. No "immediate" change will be made to its liabilities.
Assets of Commercial Banks:
T-Bill plus $30 million
Bank's Commercial Liabilities:
Reserve of Cash -$30 million
It shows No Change.
c) Commercial banks will make fewer cash loans since banks have $30 million less in their cash reserves. The amount available for loans and deposits would further decrease if a minimum reserve ratio of 5% were mandated. The bank will need to cut its loan portfolio by $600 million in order to meet the 5% minimum reserve requirement. This is the maximum amount that 5% cash in reserve can support.
⇒ [5 / 100(x)] = -$30 million
⇒ [(30 * 100) /5] = 3000 / 5 = -$600 million
As a result, when the money supply decreases by $600 million, the ultimate change in the T-account of commercial banks is as follows:
Assets of Commercial Bank:
T-Bill plus $30 million
Loans = $600 Million
Bank's Commercial Liabilities:
Reserve of Cash = -$30 million
Checkable Deposits = $600 million
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How do perception, learning and attitudes affect consumer decision making and how marketer influence these processes
Answers
Perception means how a person is thinking, learning refers to acquiring new knowledge and attitudes means feeling towers the product or service. Consumer decision-making is significantly influenced by perception, learning, and attitudes.
Perception, learning, and attitudes are all important factors that affect consumer decision making. Perception influences how a consumer interprets and evaluates stimuli in the marketplace. Learning affects how a consumer learns from past experiences and develops buying habits. Attitudes influence a consumer's predisposition towards a product or service. Marketers can influence these processes by designing their campaigns to appeal to the target audience's senses, past experiences, and biases.
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Montez Supply is expected to pay an annual dividend of $.95 per share next year. The market price of the stock is $43.50 and the growth rate is 4.5 percent. What is the cost of equity
Answers
Based on the annual dividend, the growth rate, and the market price, the cost of equity is 6.68%
What is the cost of equity?This can be found as:
Market price = Next dividend / (Cost of equity - growth rate)
Solving gives:
43.50 = 0.95 / (Cost - 4.5%)
Cost - 4.5% = 0.95 / 43.50
Cost = 2.18% + 4.5%
= 6.68%
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one of the primary purposes of co-op advertising is to build the manufacturer’s brand image. T/F
Answers
"One of the primary purposes of co-op advertising is indeed to build the manufacturer's brand image". The statement is true.
Cooperative advertising, or co-op advertising, refers to a partnership between a manufacturer and a retailer where they collaborate on advertising efforts. Co-op advertising allows manufacturers to support and promote their products through the retailer's advertising channels.
One of the key benefits for manufacturers in participating in co-op advertising is the opportunity to enhance their brand image. By partnering with retailers and featuring their products in joint advertising campaigns, manufacturers can increase brand visibility, reach a wider audience, and strengthen their brand perception among consumers.
Co-op advertising provides manufacturers with a platform to showcase their products and establish a positive brand image in the market.
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Why would a young adult be likely to purchase disability insurance?
Answers
Answer:
D
Explanation:
The only time a healthy young person will purchase disability assurance is when they work in an interstate that requires them to this interesting will most likely be dangerous
please help me answer these questions
Answers
Answer: See explanation
Explanation:
1. Inelastic demand occurs when a change in price doesn't really have an effect on the quantity of the goods demanded. Examples of products with inelastic demand are salt and prescription drugs.
2. Elasticity for demand helps in the determination of the prices of factors of production. It is also vital in knowing how price changes will affect the revenue of the firm.
3. Normal goods are the goods that when income increases, the demand for them increases as well e.g. household appliances
For inferior goods, when Income increases, their quantity demand reduces. These are common with extremely cheap products.
Kendra is trying to decide whether to go to Abby's house to watch a movie or to go to Samuel's house to play board games. They live about the same
distance away, and there is no cost for either event. If she chooses to go to Abby's house, what is the opportunity cost? (1 point)
There is no opportunity cost because there is not cost associated with either option.
Economics do not apply to this kind of decision.
The difference in value to Kendra of the two options.
The net value to Kendra of going to Abby's house to watch a movie
The net value to Kendra of going to Samuel's house to play games
Answers
Answer: The net value to Kendra of going to Samuel's house to play games
Kendra decision to go to Samul
The person named Kendra is trying to decide whether she should go to her abbeys house or whether to watch a movie. The first the option of going to the Samul house and playing a board game and can also go for a movie as she stays at the same distance. There are no costs involved in both events.
Thus answer is the net value to Kendra of going to Samuel's house for playing games.
The concept of the opportunity cost can be seen when the loss of a valve product for the cost of another more valuable item or an important product is considered to benefit. It often gives us a much higher value.Thus the option C is correct.Learn more about the decision whether.
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Which of the following is a reason you can be fired under an employment at
will policy?
A. The company relocates to a smaller facility.
B. The company learns that your parents were born in Russia.
C. The company suspects you are stealing inventory.
D. The company wants to hire a younger worker.
Answers
Answer:
A
Explanation:
Cause they might need new people if they relocate Nd might fire a lot of ppl if the working space is small
Write a dynamic succseess plan for your capital growth
Answers
My dynamic success plan for capital growth is focused on four key areas: education, investment strategy, risk management, and discipline.
First and foremost, I will prioritize ongoing education to stay up-to-date on market trends and changes. I will dedicate time and resources towards researching and studying successful investment strategies and making informed decisions that align with my goals and values.
My investment strategy will be a diversified approach with long-term value in mind. I will focus on allocating resources to areas that have historically shown steady growth, while also being discerning with individual stock picks.
Risk management will also play a critical role in my success plan. I recognize that investing comes with inherent risks, and I will actively monitor and adjust my portfolio to balance risk and reward.
Finally, discipline is key to success in any endeavor. I will stick to my investment plan, stay patient through market fluctuations, and avoid reactionary decisions. Over time, I am confident that my focus on education, strategy, risk management, and discipline will help me achieve my capital growth goals.
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A manufacturing plant produces two product lines: golf equipment and soccer equipment. An example of indirect cost for the soccer equipment line is the
Answers
An example of indirect cost for the soccer equipment line is the : Monthly lease payments for a specialized piece of equipment needed to manufacture the golf driver
Indirect cost is a cost used by multiple activities which and cannot be directly assigned to any specific cost objects.
Indirect costs are expenses unrelated to producing a good or service hence not associated to specific product or project within a company.
Examples of indirect cost includes :
Accounting and legal expenses Administrative salariesTherefore, monthly lease payments for a specialized piece of equipment needed to manufacture the golf driver is an example of indirect cost.
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3) What is the present value of $1000, received at the end of 4 years of investment, with a discount rate of 4%?
Answers
Answer:
$854.81
Explanation:
The formula for calculating the present value is as below
PV = FV/( 1 + r)^n
Where Fv =1000
r = 4% or 0.04
n= 6
PV = $1000/ (1 + 4/100)^4
PV=$1000/(1 + 0.04)^4
PV=$1000/1.16985
PV =$854.81
.
Answer:
3629.9
Explanation:
I just did the test and thats what it told me the correct answer was.
Samantha keeps $1,000 in her checking account. A friend has suggested that she move that money into a savings account which pays interest and that she apply for a debit card on that savings account so that she can spend money in her account directly with merchants without having to write a check. What's wrong with this idea
Answers
Answer:
Few banks will issue debit cards for savings accounts since the law limits the use of a debit card with merchants to 6 times per month.
What do you mean by search of trade?Why is it essential?
Answers
Answer:
trade means buying and selling good and service
Answer:
it takes time,resourses and money to creat and luanch distinctive and affective brands..in most instances,trade searching id an important first step in any trade registration to avoid adopting brans that infrige third-party trademark rights.
What do you think is most important when choosing a career?
Answers
Job Security
benefits
wage/salary
workplace environment