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3 years ago

Who is generally responsible for the materials price variance? the materials quantity variance? the labor efficiency variance?

1 answer:

8 0

THE PURCHASING MANAGER is the one who is responsible for the material price variance because he is the one in charge of buying materials that are needed for production at competitive prices. THE PRODUCTION MANAGER AND THE SUPERVISORS are the one who is responsible for the material quantity variance and the labor efficiency variance.

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A stock will have a loss of 13.6 percent in a recession, a return of 12.3 percent in a normal economy, and a return of 27 percen

SpyIntel [72]

Answer:

Standard deviation =21.34

Explanation:

Standard deviation is measure of the total risks of an investment. It measures the volatility in return of an investment as a result of both systematic and non-systematic risks. Non-systematic risk includes risk that are unique to a company like poor management, legal suit against the company .

Standard deviation is the sum of the squared deviation of the individual return from the mean return under different scenarios

Expected return (r) = (13.6% × 0.33 ) + (12.3% × 0.36) + (27%× 0.31)=17.3%

Outcome R (R- r )^2 P×(R- r )^2

Recession 13.6 13.6 4.5

Normal 12.3 24.9 8.9

Boom 27% 94.4 29.3

Total 42.7

Standard deviation = √42.7 = 21.34

Standard deviation =21.34

3 0

3 years ago

What is the book of first entry

taurus [48]

Answer:

Journals

Explanation:

“books original entry refers to the accounting journals in which business transcriptions are initially recorded the information in these books are summarized and posted into a general ledger from which financial statements are produced"

3 0

3 years ago

The common method of trading in the distant past is known as

olga nikolaevna [1]

the common method of trading in the distant past is known as marketing

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3 years ago

During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per

Arturiano [62]

Answer:

$150,000

Explanation:

The computation of value of ending inventory under absorption costing is shown below:-

Total Cost per unit = Direct Material per unit + Direct Labor per unit + Variable Overhead per unit + Fixed Overhead per unit

= $5 + $4 + $3 + ( $200,000 ÷ 25,000 units)

= $5 + $4 + $3 + $8

= $20

Ending Inventory in units = Units produced - Units sold

= 25,000 - 17,500

= 7,500

Cost of Ending Inventory = Total Cost per unit × Ending Inventory units

= $20 × 7,500

= $150,000

So, for computing the cost of ending inventory we simply multiply the total cost per unit with ending inventory units.

8 0

3 years ago

Prepare the journal entries to record the following transactions for Reese Company, which has a calendar year end and uses the s

belka [17]

Answer:

Reese Company Journal entries

September 30, 2017

Dr Depreciation Expense 12,000

Cr Accumulated Depreciation -Equipment 12,000

(To record depreciation expense)

Dr Cash 46,000

Dr Accumulated Depreciation-Equipment 44,000

Dr Loss on Disposal of Plant Assets 6,000

Cr Equipment 96,000

(To record sale of delivery equipment at a loss)

b)On June 30, 2017

Dr Cash 24,000

Dr Accumulated Depreciation-Equipment 15,000

Cr Equipment 36,000

Cr Gain on Disposal of Plant Assets 3,000

(To record sale of office equipment at a gain)

Explanation:

a.September 30, 2017

Calculation for Depreciation Expense and Accumulated Depreciation -Equipment

We have to record depreciation expense for the first 9 months of 2017 which is

$80,000 ÷ 5 years = $16,000 ×9/12 = $12,000

Calculation for Accumulated Depreciation-Equipment:

($32,000 + $12,000) =44,000

Calculation for Loss on Disposal of Plant Assets

($52,000 – $46,000) =6,000

b)On June 30, 2017

Calculation for Gain on Disposal of Plant Assets

($24,000 – $21,000)=3,000

7 0

3 years ago