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34kurt
1 year ago
15

The difference between the standard cost of a product and its actual cost is called a variance.

Business
1 answer:
-Dominant- [34]1 year ago
7 0

The difference between the standard cost of a product and its actual cost is called a cost variance. Therefore the statement is true.

<h3>What is the objective of variance?</h3>

Changing across all of the pieces of information in a data set, variance is a measurement of distribution. It enables us to estimate how far away a set of factors are from each other.

To describe the variation or difference between the standard cost of a product and its actual cost the use of cost variance is done. It is utilized to estimate the financial performance of any project.

Therefore, the statement is True.

Learn more about Variance, here:

brainly.com/question/16269880

#SPJ1

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Concord Corporation reported net income of $177,200 for 2017. Concord Corporation also reported depreciation expense of $35,230
klio [65]

Answer

Net income 177,200

+35230 depreciation

+4,920 loss on disposal

217,350 adjusted net income (a)

↑↓

↑AR -14,160

↑Prepaid -4,190

↑AP 17,220

Change in working Capital -1,130(b)

<u />

<u>Cash Flow generated from operating activities 216,220</u>

<u />

Explanation:

(a) we must remove the non-monetary account from the income statement

This means add the non-monetary expenses and losses

Subtract the non monetary revenue and gains

(b)

The increase in assets account have a negative meaning, because it is assumed the company used cash to adquire it.

Whiel increase in liabilities are positive, because the company receive aah or delay the payment of cash.

4 0
2 years ago
During your presentation, you realize that you are talking too fast. This is a
Valentin [98]

Answer:

Presentation skills challenges​

Explanation:

Presentation can be defined as an act of talking or speaking formally to an audience in order to explain an idea, piece of work, project, and product with the aid of multimedia resources or samples.

Basically, any speaker who wish to create an effective presentation should endeavor to interact frequently with the audience by holding a conversation.

This ultimately implies that, to create an effective presentation, speakers are saddled with the responsibility of interacting more often with the audience by taking questions, making a joke, getting them to repeat informations loud at intervals etc.

If during your presentation, you realize that you are talking too fast. This is a problem of presentation skills challenges.

Hence, speakers are advised to be passionate and show enthusiasm during their presentation because it would enhance their ability to speak confidently and as such leading to an engaging presentation.

3 0
2 years ago
Chang Industries has 2,500 defective units of product that have already cost $14.50 each to produce. A salvage company will purc
Lubov Fominskaja [6]

Answer:

$27,250

Explanation:

The computation of incremental income or loss on reworking the units is shown below:-

For computing the incremental income or loss on reworking the units first we need to follow some steps which is shown below:-

Incremental revenue per unit = Selling price after rework - Selling price as scrap

= $22.00 - $5.60

= $16.40

Total Incremental Revenue = Incremental revenue per unit × Total defective units

= $16.40 × 2,500

= $41,000

Total rework costs = Total defective units × Defects per unit

= 2,500 × $5.50

= $13,750

Now,

Incremental income or loss on reworking the units = Total Incremental Revenue - Total rework costs

= $41,000 - $13,750

= $27,250

7 0
3 years ago
Alex, who is single, conducts an activity in 2021 that is appropriately classified as a hobby. The activity produces the followi
Nataliya [291]

Alex, who is single, conducts an activity in 2021 that is appropriately classified as a hobby.  The amount of income that Alex must report and the amount of the expenses he is permitted to deduct are:

  • Income $18,000
  • Expenses $3,000

An activity or business  is classified as hobby :

  • The owner of the business is not making profit from the business
  • When their is no proof as to whether the business owner is making profit
  • When the owner does not intend to make profit from the business etc

Based on the given information the revenues or income amount of $18,000 will be the  amount that will be reported by Alex  as part of the gross income.

While the expenses or  property taxed amount of $3,000 is deductible because the deductions are itemized deductions.

Inconclusion Alex, who is single, conducts an activity in 2021 that is appropriately classified as a hobby.  The amount of income that Alex must report and the amount of the expenses he is permitted to deduct are:

  • Income $18,000
  • Expenses $3,000

Learn more here:

brainly.com/question/16633416

3 0
2 years ago
Sensitivity analysis:______.
alisha [4.7K]

Answer:

b. helps identify the variable within a project that presents the greatest forecasting risk.

Explanation:

Sensitivity analysis refer to the financial model that measures how the variable i.e. target one should be impacted and depend on the change in the other variable that we called as an input variable

In this, it would help to identify the variable that lies within the project and provide the high risk of forecasting

Therefore the option b is correct

4 0
2 years ago
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