Answer:
Direct material price variance= $400 favorable
Explanation:
Giving the following information:
Actual quantity purchased 200 units
Actual price paid $8 per unit
Standard price $10 per unit
<u>To calculate the direct material price variance, we need to use the following formula:</u>
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (10 - 8)*200
Direct material price variance= $400 favorable
B characteristics of the children etc
Answer:
the break even point in sales dollars is $223,667
Explanation:
The computation of the break even point in sales dollars is shown below:
= Fixed cost ÷ contribution margin ratio
= $80,520 ÷ ($138,960 ÷ $386,000)
= $80,520 ÷ 36%
= $223,667
Hence, the break even point in sales dollars is $223,667
$122,000 is Shulster's net income
To find the net income, subtract expenses and taxes from the gross income.
380,000 - 210,000 - 48,000 = 122,000
Answer: The nonrefundable $20 ticket is the sunk cost.
Explanation: A sunk cost is a cost that has already been incurred and which cannot be recovered.
However, a prospective cost is a future cost that is yet to be incurred and which can be avoided if an action or inaction is taken.
Therefore, from the scenario in the question above, we can see that Susie has already purchased the soccer match ticket which costs $20, and she is yet to incur the costs of gas, wear and tear, and parking fee.
Hence, the $20 is the sunk cost because it has already been incurred and cannot be recovered, while the $10 for gas and wear and tear, and $5 for parking are the prospective costs that will be avoided.
