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stepan [7]
1 year ago
14

brown industries operates a defined benefit pension plan. information received from the actuary and the trustee related to the y

ear 2 pension plan includes the following: projected benefit obligation, january 1, year 2 $1,889,000 service cost 105,000 interest cost 190,000 retirement benefits paid 182,000 employer contribution 155,000 actual return on plan assets 215,000 amortization of prior service cost 122,000 amortization of prior-year net pension loss 37,000 fair value -- pension plan assets, december 31, year 1 1,825,000 brown’s year 2 net pension cost is
Business
1 answer:
algol [13]1 year ago
3 0

Brown’s Year 2 net pension plan cost is- $239,000

Pension Cost = Service Cost + Interest Cost + Prior Service Cost + Prior Loss - Actual Return

= $105,000 + $190,000 + $122,000 + $37,000 - $215,000

= $239,000.

A retirement plan is an employee benefit plan established or maintained by an employer and/or an employee organization.

A pension plan is a type of retirement plan that provides monthly income after retirement. Employers are obliged to contribute to the pool of funds invested for the benefit of their employees. As an employee, you can also pay part of your wages to the plan. Not all companies offer these plans.

Learn more about pension plan at

brainly.com/question/27757390

#SPJ4

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The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 12200 gallons of direct materials that a
Anika [276]

Answer:

$8,800 favourable

Explanation:

The computation of direct material quantity variance is seen below;

= Standard price × ( Standard quantity - Actual quantity)

= $4 × [(2 gallons × 7,200 units) - 12,200 gallons)

= $4 (14,400 gallons - 12,200 gallons)

= $4 × 2,200 gallons

= $8,800 favorable

Therefore, the direct materials quantity variance for last month is $8,800 favourable

8 0
2 years ago
The Waverly Company has budgeted sales for the year as follows:
Yanka [14]

Answer:

Production= 15,000 units

Explanation:

Giving the following information:

Sales:

Q2=14,000

Q3=18,000

The ending inventory of finished goods for each quarter should equal 25% of the next quarter's budgeted sales in units.

To calculate the production for the second quarter, we need to use the following formula:

Production= sales + desired ending inventory - beginning inventory

Production= 14,000 + (18,000*0.25) - (14,000*0.25)

Production= 15,000 units

6 0
2 years ago
At the Blue Restaurants Corporation, an employee survey reports that efforts to increase worker satisfaction by redesigning jobs
DiKsa [7]

Answer:

lower costs, leading to higher profits

Explanation:

Improving job satisfaction in the workplace results in better productivity. This is because employees get to enjoy what they do rather than feeling forced to work.

When the workplace is conducive it will result in lower rates of absenteeism and employee turnover.

These in turn lead to lower costs and higher profit.

Staff turnover is costly on the business as new hires have to be trained on the job to be effective.

7 0
3 years ago
Travis is a participant in the x-games every year, which features events that are high flying and exhilarating to watch or parti
Andre45 [30]

Answer:

Openness

Explanation:

Travis is willing to take chances with his health to get the adrenaline rush from these sorts of sports because of his openness to new experiences.

People who are open to new things and enjoy new experiences have their personality classifications under openness. Openness involves having insights, being imaginative and having lots of interests.

5 0
3 years ago
A company borrowed $500,000 cash from a bank and used it to purchase $500,000 of new manufacturing equipment. Which of the follo
bogdanovich [222]

Answer:

Lets see what are the double entries of borrowings and purchase of new  manufacturing equipment and their implications:

Double Entry for borrowings:

Dr Bank $500,000

Cr           Notes Payable $500,000

The above double entry shows that the total assets and Notes Payable are increased due to this transaction. Furthermore, in the Statement of Cash flow we see an increase in Cash from Financing activities and decrease in the Cash from investing activities.

The second transaction is purchase of new manufacturing equipment. It must be accounted for as under:

Dr Manufacturing Equipment $500,000

Cr                                               Bank    $500,000        

This transaction shows that net impact on the total assets is same as one asset has been increased by spending the other asset. This transaction also has no impact on Cash for financing, inventories and notes payable balances. However, their is increased negative balance in cash from investing activities.

5 0
3 years ago
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