Which of the following is not true of a budget

Ayayai Inc. had the following balance sheet at December 31, 2019.

Mrrafil [7]

Answer:

(a) Increase in cash = $50,200

(b) Total Assets = Liabilities and Stockholders' Equity = $298,900

Explanation:

Note: There are errors as date and name inconsistency in the requirements in this question. The requirements are therefore correctly stated before answering the question as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

The explanation of the answer is now provided as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

Note: See part (a) of the attached excel file for the statement of cash flows for the year 2020 for Ayayai Inc.

In the attached excel file, we have:

Increase in cash = $50,200

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

Note: See part (b) of the attached excel file for the balance sheet as it would appear as of December 31, 2020.

In the attached excel file, we have:

Total Assets = Liabilities and Stockholders' Equity = $298,900

Download xlsx

8 0

3 years ago

How many european union countries use the euro as their official currency?

BlackZzzverrR [31]

Answer:

19

Explanation:

The euro is the sole currency of 19 EU member states: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

6 0

3 years ago

Suppose that the Bureau of Labor Statistics predicts that the number of jobs for dental hygienists will grow faster than most oc

Tom [10]

Answer:

frictional unemployment created by sectoral shifts.

Explanation:

This unemployment is generated because the information between vacancies for the labor force is imperfect. People study and prepare to be dental hygienists or bookbinders without information for the total amount of vacancies that will occur. This frictional unemployment will decrease once the labor force adjust for the demand changes in the jobs. Because the shortage, the salaries for dental hygienists will increase and more people will start studies for dental hygienists. The opposite will occur with the bookbinders job, the decrease in the demand will lower the wages and less people will dive into.

5 0

3 years ago

Zanny Electronics Corporation uses a standard cost system for the production of its water ski radios. The direct labor standard

AlexFokin [52]

Answer:

Labor Rate Variance = - $1,188 Unfavorable

Explanation:

Provided labor hours for each radio = 0.9

Standard labor cost per hour = $7.20

Actual labor cost = $48,708

Actual labor hours = 6,600

Actual labor rate = $48,708/6,600 = $7.38

Labor Rate Variance = (Standard Rate - Actual Rate) $\times$ Actual Hours

= ($7.20 - $7.38) $\times$ 6,600 = - $1,188 Unfavorable

6 0

3 years ago

Aborkian Co. is forecasting sales of 75,000 units of product for November. To make one unit of finished product, seven pounds of

melamori03 [73]

Questions

Aborkian Co. is forecasting sales of 75,000 units of product for November. To make one unit of finished product, seven pounds of raw materials are required. Actual beginning and desired ending inventories of raw materials and finished goods are:

November 1 November 30

(Actual) (Desired)

Raw materials (pounds) 91,400 86,400

Finished goods 8,500 9,600

(a.) Calculate the number of units of product to be produced during November.

(b.) Calculate the number of pounds of raw materials to be purchased during November

Answer:

Number of units to be produced= 76,100 units

Raw materials to be purchased= 527,700 pounds

Explanation:

Units to be produced

Number of units to be produced = sales budget + closing inventory - opening inventory

= 75,000 + 9,600 - 8,500 = 76,100 units

Number of units to be produced= 76,100 units

Raw materials purchase budget

Raw materials to be purchased = Raw materials to be used + closing inventory of raw materials - opening inventory of raw materials

Raw material usage = production units × standard pounds per unit

= 76,100× 7 =532700 pounds

Raw materials to be purchased = 532,700 +86,400 - 91,400=527700

Raw materials to be purchased= 527,700 pounds

4 0

3 years ago