Answers
Answer and Explanation:
The computation is shown below:
Total material variance = Actual quantity × Actual rate - Standard quantity × Standard rate
= 29000 × $6.3 - (16,000 units × 2) × $6
= $182,700 - $192,000
= - $9,300 favorable
Material price variance = Actual quantity × Actual price - Actual quantity × Standard price
= (29,000 units × $6.3) - (29,000 units × $6)
= $182,700 - $174,000
= $8,700 unfavorable
Material quantity variance = Standard quantity × Actual quantity - Standard rate × Standard quantity
= $6 × 29,000 units - $6 × (16,000 units × 2)
= $174,000 - $192,000
= -$18,000 favorable
The favorable is when the standard cost is more than the actual one while the unfavorable is when the standard cost is less than the actual one
Related Questions
mackenzie, an agent for lindsay, signs an agreement with kirk on lindsay's behalf but neglects to tell her that the agreement requires the payment of a certain tax. the government prosecutes lindsay for failing to pay the tax. she is
Answers
She is Liable, because liable to mckenzie, liable to lindsey.
What does being liable mean?accountable; required by law or equity (see equity sense 3). The business's debts are the responsibility of both owners and are vulnerable to appropriation or attachment. All of his assets are subject to debt repayment.To deem something means to judge it to possess specific qualities. An act is considered to be a crime if it is classified as such by the law. If someone is found to be responsible for damages, they must be paid.Libel is a form of defamation that mainly refers to remarks made about someone without justification that subject them to ridicule from the public. In contrast, the term "liable" implies someone who is legally accountable for anything, such as an unpaid bill.To learn more about defamation refer,
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The operating budget provides a roadmap for financial plans for a short-term, future period. What is a typical “future period” for an operating budget?
Answers
An operating budget is a financial statement that outlines the organization's expenditures and revenues for a specific period.
The operating budget is typically for a fiscal year, which is usually twelve months. The future period for an operating budget is usually a fiscal year or less than a year. The operating budget is critical because it establishes guidelines for financial activities and operations in an organization. It provides a roadmap for financial plans for a short-term, future period, which typically begins on January 1st and ends on December 31st.
An organization creates an operating budget to aid in the allocation of resources and expenditures to achieve its objectives for a given period. A typical operating budget is for a fiscal year. A fiscal year is the period when an organization prepares its financial statements. It is usually 12 months, but it may be shorter or longer depending on the organization. An operating budget typically covers one fiscal year; however, it may be longer or shorter based on the organization's preferences.
The future period for an operating budget is frequently updated to reflect the company's current situation and financial standing. It takes into account the actual results of the previous period and the estimated expenditures and revenues for the upcoming year to develop the operating budget for a future period.
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how do you define entrepreneurship?
Answers
1. Think about a business idea (sector)
2. Create a budget and a cash flow statement for that business
3. Highlight the investment appraisal technics to determine if such a business is viable or not.
4. Indicate the source of funding and if it's a loan create an amortisation schedule.
5. Try to convince someone to invest in your project with convincing evidences.
Answers
Answer:
i didn't understand
Explanation:
A company purchased factory equipment on April 1, 2021 for $175000. It is estimated that the equipment will have a $25000 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2021 is $17500. $11250. $13125. $15000.
Answers
Answer:
b. $11250
Explanation:
Capitalized Cost of Equipment = $175,000
Life of Assets = 10 years
Residual value = $25,000
Depreciable value = Cost - Salvage value
Depreciable value = $175,000 - $25,000
Depreciable value = $150,000
Depreciation per year = Depreciable value / Life of assets
Depreciation per year = $150,000/10 years
Depreciation per year = $15,000
Depreciation from April to December 2021 = $15,000*9/12
Depreciation from April to December 2021 = $11,250
What is the purpose of every item in the SHARKS mnemonic?
Answers
The purpose of every item in the SHARKS mnemonic is:
S – state the agenda before you start your meeting;
H – hijackers will be at your meeting, so watch out;
A - adding relevant information is the key to a good meeting;
R – repeat the agenda at the end of the meeting;
K - keep the meeting small and short;
S - scheduling should be outside the meeting.
What is the significance of a mnemonic?A mnemonic can be referred to or considered as a tool of the English language wherein the initial letters of a concept are used to easily memorize the concept effectively.
In the given condition above, the mnemonic of SHARK is used as an effective memory tool for memorizing the purpose behind each initial in a meeting of intelligence department.
Therefore, the significance regarding mnemonic is aforementioned.
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Identify effective decision making techniques?
Answers
Answer:
Step 1: Identify the decision. You realize that you need to make a decision. ...
Step 2: Gather relevant information. ...
Step 3: Identify the alternatives. ...
7 STEPS TO EFFECTIVE.
Step 4: Weigh the evidence. ...
Step 5: Choose among alternatives. ...
Step 6: Take action. ...
Step 7: Review your decision & its consequences.
Alan Krueger conducted a survey of fans at the 2001 Super Bowl who purchased tickets to the game for $325 or $400. Krueger found that (a) 94 percent of those surveyed would not have paid $3,000 for their tickets, and (b) 92 percent of those surveyed would not have sold their tickets for $3,000. These results are an example of A. the failure to ignore sunk costs. B. rational consumer behavior. C. the endowment effect. D. the fallacy of composition.
Answers
Answer:
C. the endowment effect
Imagine the products are in decline and recommend an extension strategy for each one. Make sure you explain your
A Galaxy chocolate bar
Candy Crush mobile app.
Evian water
Ferrari world.
Answers
All of these products should use a rebranding extension strategy.
Once a product reaches maturity and the market is saturated, it gradually starts to decline.
Because of this, one approach to lengthen the life of a product strategy is to always seek out ways to make it better, different, and even stand out from similar products that have already hit the market.
Rebranding, offering discounts, and looking for new markets are all examples of extension strategy methods. Rebranding is the process of giving an existing product a fresh look and feel in order to set it apart from the competition. For instance, a cosmetics company might provide additional brushes, blenders, or sponges.
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State where this following question is a fact, opinion or informed opinion. "Conspiracies are perennial favourite for television producers because there is always a receptive audience?
Answers
This question corresponds to an informed opinion by presenting a judgment based on certain reasons.
How is an opinion formed?The judgment or vision that an individual acquires on a given topic may be constituted from facts, individual values or acquired knowledge, and the opinion may not correspond to the reality of the facts.
Therefore, it is essential that, when forming their own view of a situation, the individual seeks reliable sources and develops critical thinking, so that their opinion is more consistent and grounded.
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Question Content Area
Journalize the entries to record the following selected transactions:
a. Sold $900 of merchandise on account, subject to 7% sales tax. The cost of the goods sold was $510.
b. Paid $436 to the state sales tax department for taxes collected.
If an amount box does not require an entry, leave it blank.
a.
- Select -
- Select -
blank
- Select -
- Select -
- Select -
- Select -
b.
Answers
When the final sale in the supply chain is made, the retailer is responsible for collecting sales tax. The required journalized entries for the selected transactions involving sales tax are attached below.
The state levies a consumption tax, the so-called sales tax, on the purchase of goods and services. A standard sales tax is collected at the point of sale, collected at the store and remitted to the government.
Depending on the regulations in that country, a business may be responsible for sales taxes in that jurisdiction if it has a presence there, which can be a physical site, an employee, or an associate. The calculation of sales tax for (a) is:
Sales Tax Payable = Amount of sales× Sales Tax
= $900 × 7%
= $63
Therefore, all the selected transactions are explained with the help of the journal entries.
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Your question is incomplete, but most probably the full question was,
Question Content Area
Journalize the entries to record the following selected transactions:
a. Sold $900 of merchandise on account, subject to 7% sales tax. The cost of the goods sold was $510.
b. Paid $436 to the state sales tax department for taxes collected.
If an amount box does not require an entry, leave it blank.
a.
- Select -
- Select -
blank
- Select -
- Select -
- Select -
- Select -
b.
- Select -
- Select -
blank
If the amount of gasoline purchased per car at a large service station has a population of $15 and a population standard deviation of$4 then 99.73% of all cars will purchase between $3 and $27
Answers
The range between $3 and $27 is three standard deviations away from the mean.
Since we know that 99.73% of the data falls within three standard deviations of the mean, we can estimate that 99.73% of all cars will purchase gasoline between $3 and $27.
According to the given information, the population mean is $15, and the population standard deviation is $4.
This means that 99.73% of all cars will purchase gasoline within three standard deviations of the mean, using the empirical rule.
Therefore, we can use the empirical rule to estimate the percentage of cars that will purchase gasoline between $3 and $27.
The empirical rule is also known as the 68-95-99.7 rule, which states that:Approximately 68% of the data falls within one standard deviation of the meanApproximately 95% of the data falls within two standard deviations of the meanApproximately 99.7% of the data falls within three standard deviations of the mean.
To find the number of standard deviations that correspond to $3 and $27, we need to calculate the z-scores.
The z-score formula is given as:z = (x - μ) / σwhere z is the standard score, x is the value of the variable, μ is the population mean, and σ is the population standard deviation.
To find the z-score for $3, we plug in the values:z = (3 - 15) / 4z = -3To find the z-score for $27, we plug in the values:z = (27 - 15) / 4z = 3.
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[Total = 25marks]
QUESTION 2
a. Azon and Son Ltd acquired use of plant over three years by way of a lease. Installments of
GhC700,000, are paid six monthly in arrears on 30 June and 31 December. Delivery of the plant
was on 1 January 2010 so the first payments of GhC700,00 was on 30 June 2010. The present
value of minimum lease payments is GhC3,000,000, Interest implicit in the above is 10% per six
months. The plant would normally be expected to last three. Azon and Son is required to insure
the plant and cannot return it to the lessor without severe penalties.
Required
i. Describe whether the above lease should be classified as an operating or finance
1
Answers
A significant portion of the asset's economic life—three years—is covered by the lease period. The minimum lease payment present value is GhC3,000,000, which is essentially the entire leased asset's fair market value.
The equivalent of monthly rent, a lease payment is formally stipulated in a contract between two parties and gives one party the right to use the other party's real estate holdings, manufacturing equipment, computers, software, or other fixed assets for a predetermined period of time.
A lease payment will be shown as a right-of-use asset and lease liability on the balance sheet. The ROU asset is the ownership of the asset under the lease contract, whereas the lease liability period is the payment obligation during the course of the lease contract.
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Quintina decided to increase the deduction percentage of her federal income tax rate from 14% to 16%. Quintina’s gross pay per month is $2,100. Her deductions before the change are listed in the table.
Deduction
Dollar Amount
Federal Income Tax
$294
State Income Tax
$89
Social Security
$85
Medicare
$35
What is her new monthly net pay? Round your answer to the nearest dollar.
$1555
$1591
$1595
$1639
Answers
Answer:
The answer would be A. $1555
A. $1555
Have a good day
When an interviewer says, “Tell me about yourself,” you should feel free to talk openly about your personal life.
False
True
Answers
Answer:
False
Explanation:
You should tell them about your personality and how others see you. Take for example your strengths and weaknesses as a person, or about your traits. If they ask you about your personal life keep it brief, they don't need too much info about that rather a small aspect of it.
Answer:
TRUE
Explanation:
The second step of writing a career action plan is to: perform an informational interview. list all work experience. list and analyze the results of self-assessments. make short term goals.
Answers
The second step of writing a career action plan is to make short term goals. The Option D is correct.
What is the significance of career action plan?A career action plan refers to a roadmap that guide someone from the starting point in your career to a place where you feel like you're truly advancing. For example, the plan can help you choose an occupation and then guide you to getting a job and advancing in your career.
Career action plan is also referred to as an Individualized Career Plan or an Individualized Career Development Plan which will help you reach your career goals.
In essence, the timeline for achieving one's career action plan goals should start with your short-term ones and end with your primary objective. We need to be flexible as career action plan can always change.
Full question "The second step of writing a career action plan is to: a. perform an informational interview. b. list all work experience. c. list and analyze the results of self-assessments. d. make short term goals.
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Identify the true statements about Kaizen Improvement.
Answers
Kaizen refers to eliminating inventories. Both lean systems and just-in-time (JIT) systems can benefit from kaizen. Cost reduction can be achieved by kaizen.
What does "Kaizen Improvement" mean?Since the term's introduction as a systematic method for company improvement, businesses who use KAIZENTM have consistently produced better outcomes. Continuous improvement costing is referred to as kaizen costing. This method concentrates on examining the expenses incurred.
Kaizen, also known as continuous improvement, asserts that an organization can only succeed in the long run if every employee seeks out and implements improvements on a daily basis.
The pursuit of minor changes encourages reflection on the procedure and how it is being run.
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question:-
Identify a true statement about kaizen.
O It involves a huge financial investment.
O It is performed on a part-time basis.
O It is an intense, rapid improvement process.
O It is based on the concept of continuous improvement.
11. A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:
selling price $140
units in beginning inventory 0
units produced 1,200
units sold 800
units in ending inventory 400
Direct materials $25
Direct labor $41
Variable manufacturing overhead $6
Variable selling and administration $6
Fixed manufacturing overhead 24,000
fixed selling administration $12,000
What is the net operating income for the month under variable costing?
A. $21,600
B. $(15,200)
C. $8,000
D. $13,600
Answers
Answer:
I THINK ITS B
Explanation:
The accounting treatment of owner-occupied properties and that of investment properties is prescribed by IAS 16: Property, Plant and Equipment and IAS 40: Investment Property respectively.
Required:
Define property, plant and equipment under IAS 16 and explain why its accounting treatment is different from that of investment property.
Explain how the treatment of owner-occupied property carried under the revaluation model differs from an investment property carried under the fair value model.
Answers
A property, plant, or piece of equipment must be depreciated separately for each component that has a cost that is significant relative to the total cost of the item.
How is property, plant, and equipment measured?Property, plant, and equipment are initially valued at their cost, then revalued or measured using a cost model. Finally, they are depreciated so that the depreciable amount is distributed systematically over the course of their useful lives.
Property, plant, and equipment are tangible items that are held for use in the manufacture or provision of goods or services, for rental to third parties, or for administrative needs, and that is anticipated to be used over a prolonged period of time.
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Anong ahensya kaya ng gobyerno ang dapat makialam sakasong ito?
Answers
DEPARTMENT OF ENVIRONMENT AND NATURAL RESOURCES(DENR)
the year-end adjusted trial balance of aggies corporation included the following account balances: retained earnings, $228,000; service revenue, $890,000; salaries expense, $388,000; rent expense, $148,000; interest expense, $83,000; and dividends, $58,000.
Answers
The answer is The closing entry for the following accounts are shown below:
1. Service Revenue A/c Dr $850,000
To Income Summary $850,000
(Being revenue account closed)
2. Income summary A/c Dr $595,000
To Salaries Expense $380,000
To Rent Expense $140,000
To Interest Expense $75,000
(Being expenses accounts are closed)
3. Income summary A/c Dr $255,000 ($850,000 - $595,000)
To Retained earning $255,000
(Being the difference is credited to retained earning)
4. Retained earnings A/c Dr $50,000
To Dividend A/c $50,000
(Being dividend account is closed)
What is a brief explanation of a corporation?A corporation is a legally recognized body with the power to contract, own property, incur debt, bring legal actions, and be sued independently of its owner (s). A corporation technically has an infinite lifespan because it is specified by law.
What is the primary goal of a corporation?Nowadays, the accepted response is that a business exists to serve the interests of its owners. Academics refer to this as the "shareholder primacy norm," and many refer to the duty of corporate management as "shareholder wealth maximization." Even ostensibly benevolent business actions like gifts are acceptable.
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Daniel was driving down the highway at a constant speed of 70mph.
Which of the following graphs demonstrates this?
a b c or d
100 points if u help me
Answers
You can earn 3% interest on a CD and 1.25% interest on a savings account.
How much more interest will the CD earn for one year if you make a deposit of
$1,650?
Financial Lit, please help!!
Answers
Answer:
The CD will earn $49.50 more interest than the savings account for one year if you make a deposit of $1,650.
Valeria deposited $80 in an account earning 5% interest compounded annually. To the nearest cent, what is the total amount in the account after 2 years?.
Answers
After two years, Valeria will accrue interest of $8.20, rounded to the nearest cent. It will come to $88.20 in total.
What is the rate of compound interest?
Compound interest is calculated as interest on an account's principal plus any previously accumulated interest.
What is the balance of the account after a period of two years?
Using the following formula, compound interest can be calculated:
Since x equals compound interest, x = P (1+r/n)^nt.
Initiator = (the initial deposit or loan amount)
r is the annual interest rate.
n is equal to the number of compounding periods per second.
t is the duration for which the funds are borrowed or invested.
Given: Valeria put $80 into a savings account earning 5% interest annually compounded.
P = 80 dollars, r = 0.05 (5% represented in decimal form), t = 2 years, and n = 1 (annual compounded).
The formula becomes A = $80(1 + 0.05/1)^2 when these numbers are substituted.
= $88.20
Subtracting the principal from the total amount yields the amount of interest earned:
Interest equals $88.20 - $80, or $8.20.
Interest equals $8.20 as a result.
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An American-style call option with six months to maturity has a strike price of $35. The underlying stock now sells for $43. The call premium is $12. What is the intrinsic value of the call
Answers
Answer:
$8
Explanation:
An American style call option has a strike price of $35
The underlying stock now sells for $43 in the market
The call premium is $12
Therefore, the intrisic value of the call can be calculated as follows
Intrisic value= Market price - strike price
= $43-$35
= $8
Hence the intrinsic value of the call is $8
Unbanked Partner #1
1. I've had terrible customer service at the banks I've been into, so I don't like them and I
don't trust them. I'm certainly not leaving my money with them,
Answers
Being unbanked has become an increasingly common situation for many individuals in recent years. An unbanked person is someone who has no financial account with any institution. Individuals may choose to be unbanked for a variety of reasons, including a lack of trust in banks due to poor customer service or a negative experience.
A person may have experienced a bad encounter with a bank employee and choose to leave the bank and seek other banking options. They may also be unable to maintain a minimum balance in their bank account, and banks may impose fees for accounts that fall below a certain amount. It can be inconvenient to have to travel to a bank to withdraw money, especially if the nearest bank is far away. Additionally, the time spent waiting in line at a bank can be tedious, and it can be difficult to fit into a busy schedule.
There are alternatives to traditional banks that may be more convenient and better suit the needs of unbanked individuals. Credit unions, for example, offer similar services as banks but are often smaller and more focused on serving the community. Mobile banking apps have also become increasingly popular, offering services such as depositing checks and transferring money.
The use of prepaid debit cards is another option that allows for the convenience of a card without the need for a traditional bank account. The unbanked may also benefit from budgeting tools and financial literacy resources, which can help them make informed financial decisions and take control of their finances. Overall, being unbanked does not mean that an individual cannot access financial services or manage their money effectively.
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How are laws of supply and demand similar
Answers
What is a class action suit?
OA. When a lawsuit is dismissed by a judge because the court does
not have proper jurisdiction
B. When a lawsuit involves not only one punishment, but an entire list
of consequences
C. When a group of consumers that suffer similar damages bring a
case against a business together
D. When an individual brings a lawsuit against all businesses in an
industry together
it’s c
Answers
A class action suit is a case, brought up by a group of consumers that suffer similar damages, against a business together. Hence, the correct answer will be an option(c).
Consumers, suffering a similar loss caused by a business, come forward and file a lawsuit together against the same business. This type of lawsuit is known as a class action suit. It is also known as Representative action. If the group wins the lawsuit, it will be compensated for the damages caused but if they lose the lawsuit, it will not receive any type of financial compensation.
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Why was the sport of volleyball invented?
Answers
Answer:
History has it that William G. Morgan, who invented the game of volleyball in 1895, came up with the idea so that people who found basketball's 'bumping' or 'jolting' too strenuous could have an alternative physical activity to fall back on.
Bettina Amman is a sales consultant. She travels all over the country selling her company’s products. Her total monthly expenses for June, July, and August were $4,356.01, $9,011.20, and $8,780.00. What was her average monthly expenditure?
a
$7,382.40
b
$22,147.21
c
$8,090.25
d
$6,565.00
Answers
Answer:
a. $7,382.40
Explanation:
With regards to the above,
Bettina Amman 's average monthly expenditure calculation is shown below;
= Total monthly expenses / Number of months
= $4,356.01 + $9,011.20 + $8,780 / 3
= $7,382.40
Therefore, Bettina Amman's average monthly expenditure is $7,382.40