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MAVERICK [17]
2 years ago
10

A favorable cost variance occurs when actual costs are more than standard costs standard costs are more than actual costs standa

rd costs are less than actual costs actual costs are the same as standard costs
Business
1 answer:
Orlov [11]2 years ago
6 0
A favorable cost variance occurs when: <span>Standard costs are more than actual costs
Standard cost refers to the cost that projected to happen when acquiring an asset. Meanwhile, actual cost refers to the total cost that actually happens when acquiring that asset.

</span>
You might be interested in
Which of the following describes accrued revenue? (Check all that apply) Multiple select question. The adjustment causes an incr
vaieri [72.5K]

Answer:

  • The adjustment causes an increase in an asset account and an increase in a revenue account.
  • Accounts receivable is usually increased when accruing revenues.
  • They refer to revenues that are earned in a period, but have not been received and are unrecorded.
  • They refer to earnings which have been earned but not yet billed.

Explanation:

Accrued revenue refers to cash earned for selling a good or delivering a service yet the cash has not been received and the transaction was not recorded in the books as revenue. This means that the cash has been earned but it has not been billed to the customer it was earned from.

When the books are being adjusted for this, the accounts receivable - which is an asset account - will increase to show that cash is owed. Revenue will also increase as this was cash earned from delivering a good or service.

6 0
2 years ago
Karl Metzger plans to invest $5,000 in a partnership with his brother to produce and sell handcrafted violins, zithers, and othe
Svet_ta [14]

Answer:

A silent partner

Explanation:

A silent partner is a partner whose liability is limited to the amount invested in the project. Also, a limited partner hardly takes part in the day to day running of the business.

I hope my answer helps you

8 0
3 years ago
You have an opportunity to invest in Australia at an interest rate of 8%. Moreover, you expect the Australian dollar (A$) to app
earnstyle [38]

Answer:

10.16%

Explanation:

The computation of the effective return for this investment is shown below:

Let us assume that we invested an amount in Australian dollars 100

The return is 8%

After one year, the amount is 108

Now the converting amount is 110.16 (108 × 102%)

Now the effective rate for this investment is

= 110.16 - 100

= 10.16%

7 0
3 years ago
Buffalo National Corp. (BNC) is currently an all-equity firm worth $320 million with 50 million common shares outstanding. BNC p
balu736 [363]

Answer:

The solution as per the given problem is provided below throughout the explanation portion below.

Explanation:

The given values are:

Debt issued,

= 120

Pretax earnings,

= 80

Tax,

= 35%

All equity firm,

= $320

Number of common stock,

= 50

(a)

Balance sheet before the debt issue's announcement will be:

<u>Assets </u><u>                                 320</u>

<u>Debt   </u><u>                                    0</u>

<u>Equity  </u><u>                                 320</u>

then,

The total will be "320".

(b)

The per share price will be:

= \frac{Equity}{Number \ of \ common \ stock}

= \frac{320}{50}

= 6.40

or,

After tax, the net income will be:

= EBIT(1-t)

= 80(1-0.35)

= 80\times 0.65

= 52

(c)

The return on equity will be:

= \frac{Net \ income \ after \ taxes}{Value \ of \ equity}

= \frac{52}{320}

= 0.1625

or,

= 16.25 (%)

5 0
3 years ago
The Smith Company manufactures insulated windows. Costs for March were as follows. Direct labor $53,000 Indirect labor 18,000 Sa
Marat540 [252]

Answer:

$27,000

Explanation:

The following costs were incurred by Smith's company during the month of March

Direct labor $53,000

Indirect labor 18,000

Salary of corporate vice president for advertising 25,000

Direct materials 48,000

Indirect materials 4,000

Interest expense 7,500

Salary of factory supervisor 3,000 Insurance on manufacturing equipment 2,000

Therefore the actual manufacturing overhead for March can be calculated as follows

= Indirect labour + indirect materials + salary of factory supervisor + insurance on manufacturing equipments

= $18,000 + $4,000 + $3,000 + $2,000

= $27,000

Hence the actual manufacturing overhead for March is $27,000

8 0
3 years ago
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