Answer:
The fixed overhead production-volume variance is $9,000 U
Explanation:
In this question, we are tasked with calculating the fixed overhead production-volume variance.
We start by calculating the fixed overhead applied to production.
mathematically that is equal to : 54,000 * 0.03 * 50 = 81,000
The budgeted fixed overhead = 90,000
Mathematically,
Fixed overhead production-volume variance = Budgeted fixed overhead - fixed overhead applied to production = 90,000 - 81,000 = $9,000 U
Use the formula of the present value of an annuity ordinary to find the monthly payment
The formula is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value 14000
PMT monthly payment?
R interest rate 0.07
K compounded monthly 12
N time 4years
Solve the formula for PMT
PMT=pv÷[(1-(1+r/k)^(-kn))÷(r/k)]
PMT=14,000÷((1−(1+0.07÷12)^(
−12×4))÷(0.07÷12))
=335.25
Total payments
335.25×12 months×4years
=16,092
Total amountof interest
16,092−14,000
=2,092
Hope it helps!
The current ratio is 1.5.
<h3>What is the current ratio?</h3>
Current ratio is a liquidity ratio. Liquidity ratios measure a firm's ability to honour its short terms obligations.
Current ratio is the ratio of current assets to current liabilities. Current assets are assets that would be used up in a year. Current liabilities are debt obligations that would be settled within a year. Current liabilities excludes long-term debt.
The higher the current ratio, the higher the firm's liquidity and its ability to meet short term obligations.
Current ratio = current asset /current liability
= 600 / (1500 - 1100)
= 600 / 400
= 1.5
To learn more about financial ratios, please check: brainly.com/question/26092288
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Answer:
(A) debit Cash; credit Dividend Revenue
Explanation:
As Blanton Corporation has 35% investment in Worton Corporation, the dividend received from Worton Corporation will be recorded as Dividend Income / revenue. Cash received in the form of dividend will be debited to the cash account. Dividend is the income on the investment so it will not effect the original investment balance.
Answer: Increases by $30,800
Explanation:
If the inventory increased by $38,500 in January then that means that the Net Income for the previous period has increased because the Cost of Goods sold for the previous period will be less.
Since the Income for the year 2020 has increased by $38,500, the tax rate needs to be applied to it to see how much goes to retained earnings.
= 38,500 ( 1 - tax rate)
= 38,500 * ( 1 - 20%)
= $30,800
The beginning Retained Earnings balance Increases by $30,800
