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3 years ago

Exercise 9-17 Flexible Budget Performance Report [LO9-1, LO9-2, LO9-3, LO9-4]

Business

1 answer:

Kobotan [32]3 years ago

8 0

Answer:

AirQual Test Corporation

Flexible Budget Performance Report for February:

Fixed Variable Flexible Actual

Component Budget Total

Revenue $ 275 $38,500 $ 38,500 0 None

Technician wages $ 8,100 $8,100 $ 7,950 150 F

Mobile lab operating

expenses $4,800 $ 33 $10,080 $ 9,590 490 F

Office expenses $ 2,400 $ 2 $2,720 $ 2,550 170 F

Advertising expenses $1,590 $1,590 $ 1,660 70 U

Insurance $ 2,850 $2,850 $ 2,850 0 None

Miscellaneous expenses $ 960 $ 2 $1,280 $ 565 715 F

Explanation:

Fixed Component Variable Budget Actual

Revenue $ 275 $41,250 $ 38,500

Technician wages $ 8,100 $8,100 $ 7,950

Mobile lab operating

expenses $4,800 $ 33 $9,750 $ 9,590

Office expenses $ 2,400 $ 2 $2,700 $ 2,550

Advertising expenses $1,590 $1,590 $ 1,660

Insurance $ 2,850 $2,850 $ 2,850

Miscellaneous expenses $ 960 $ 2 $1,260 $ 565

b) Variable elements for the flexible budget:

1) Mobile lab operating expenses = $4,800 + ($33 x 160) = $10,080

2) Office Expenses = $2,400 + ($2 x 160) = $2,720

3) Miscellaneous expenses = $960 + ($2 x 160) = $1,280

c) A flexible budget is a budget that is flexed with regard to the volume of activity, with respect to the variable elements. This budget type changes in value as a result of the changes in the volume of activity. It is different from a static budget, which does not change in value following the level of activity and does not account for changing incomes and expenses.

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Decisions made during the supply chain design phase regarding significant investments in the supply chain, such as the number an

Mars2501 [29]

Answer:

The correct answer is True.

Explanation:

A good supply chain aims to maximize the profitability of the company while trying to provide the best service in order to obtain a high degree of customer satisfaction. That is why, when planning the design, it must be customer oriented and not only focused on the company.

Steps prior to the design of the supply chain

When designing the supply chain, there are several points to consider in order to obtain a coherent and functional design.

The members that become part of the chain. The first thing to be fixed are the members that are part of the chain, since this will be the guide to go through the rest of the steps. Within this, a subdivision could be carried out, but it is worth mentioning that an agent can be a principal or support agent jointly depending on the work to be done at each moment:
Principal. They are the ones that provide direct value to the product or service.
Of support. They are those members whose function is to provide information or resources to the main members, such as banks.
Structure that forms the chain, that is, all the phases through which a product / service passes in order to be marketed as such. At this point we must try to be as meticulous as possible and always add as much as possible all the phases that are involved, both in manufacturing and in supply.
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3 years ago

Cycle Wholesaling sold merchandise on account, with terms n/60, to Sarah’s Cycles on February 1 for $550 (cost of goods sold of

nikitadnepr [17]

Explanation:

The journal entries are shown below:

On February 1

Account receivable - Sarah’s Cycles A/c Dr $550

To Sales $550

(Being the goods are sold on credit)

Cost of goods sold A/c Dr $375

To Merchandise Inventory A/c $375

(Being goods are sold at cost)

On February 9

Sales return and allowance A/c Dr $137.50 ($550 ÷ 4)

To Accounts receivable - Sarah’s Cycles $137.50

(Being sales return is recorded)

Merchandise Inventory A/c $85

To Cost of goods sold A/c Dr $85

(Being sales return is recorded)

On March 2

Cash A/c Dr $412.50 ($550 - $137.50)

To Accounts receivable - Sarah’s Cycles $412.50

(Being cash is received)

The net profit margin is

= (Net sales - Cost of goods sold) ÷ Net sales

= ($412.50 - $290) ÷ ($412.50)

= 29.69%

The cost of goods sold

= $375 - $85

= $290

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3 years ago

Waupaca Company establishes a $400 petty cash fund on September 9. On September 30, the fund shows $122 in cash along with recei

Lemur [1.5K]

Answer and Explanation:

The Journal entry is shown below:-

September 9

Petty cash fund Dr, $400

To Cash $400

(Being establishment of petty cash fund is recorded)

Here we debited the petty cash fund as assets is increasing while we credited the cash is decreasing.

September 30

Merchandise Inventory Dr, $51

Postage expense Dr, $73

Cash Short and over Dr, $13

Miscellaneous Dr, $141

To Petty Cash $278

(Being reimburse of petty cash find is recorded)

Here we debited the merchandise Inventory, postage expense, cash short and over and miscellaneous as it is expenses while we credited the petty cash as is reimbursed.

October 1

Petty cash fund Dr, $60

($460 - $400)

To Cash $60

(Being increase in petty cash fund is recorded)

Here we debited the petty cash fund as assets is increasing while we credited the cash is decreasing.

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4 years ago

Help Please NO FAKE ANSWERS PLEASE I REALLY NEED HELP (economics)

soldier1979 [14.2K]

If your a busy small business owner, taking time away from your store makes you less efficient. The trade offs for using this premium service are 1. your spending more money 2. control over quality. Vise versa if your paying more for the “best groceries” then that may not be an issue. Also be aware that another issue is stocking, going to the store yourself does not guarantee that the store will have all items in stock when you go. 3. Time, taking time to grocery shop takes away from your business or the cost of an employee to watch the business or do the shopping for you having you rely on a third party’s judgment. 4. Gas, the cost of gasoline to go to and from the store. If all these are added up then you are essentially paying more for your “in person” groceries as it is. Choosing to grocery shop yourself saves you money (although how much? Once everything is taken into account?) but again the time it takes away is significant. For a busy small business owner time is extremely important and this is why the trade off of cost or added expenses for groceries may be worth it. (I hope this helps guide you in answering this question).

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3 years ago

Interest rates rise faster in Scotland (GBP) than they do in the United States (USD). Which nation’s currency appreciates? Which

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There is very simple logic between demand and supply. When demand is high, price rises and currency appreciates in its value. On the other hand, price should decline if import rate is mare compared with export rates. As prices of U.S goods increases which ultimately goes to international market where producers have to pay domestic currencies. Americans will demands comparatively less expensive goods. So it will result in supplying more dollars to foreign exchange market.

Finally, increasing demand of pounds. Finally, U.S dollars appreciates and pound depreciates. Trade value is amount by which total import value deviates from export value. Due to changes in interest rates results in trade imbalance in U.S. There is not greater effect on Scotland as it is key player in transporting of energy products to rest of U.K.

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3 years ago