Answer:
a. Insurance expense for the month of march
= ($3,840 / 12 months) * 1 month
= $320 per month
b. Balance in prepaid insurance as of March 31
= ($3,840 / 12 months) *11 months remaining
= $3,520
c. Equipment rent expense for the month of April
= ($23,160 / 24 months) * 1 month
= $965
d. Balance in prepaid equipment rental as of April 30
= Nil ($0) as it is not mentioned that payment has been made, it is only mentioned that two year rental contract has been entered into.
Answer:
Applet's flexible budget variance for total costs is $5,140 unfavorable variance since actual is higher than budgeted cost
Explanation:
Flexible budget variance for total costs=actual total costs-budgeted total costs of 72 connectors
actual total costs of 72 connectors=$19,000
budgeted total costs of 72 connectors=budgeted fixed cost+budgeted total variable cost of 72 connectors
total budgeted variable cost=72*$130=$ 9,360.00
budgeted fixed cost is $4,500
Budgeted total costs of 72 connectors=$9,360.00+$4,500.00=$ 13,860.00
Flexible budget variance =$ 13,860.00-$19,000.00=$5140 unfavorable variance
Answer:
There should be defined roles of all the team members and they should know their responsibilities.
Explanation:
Jonas should clearly assign tasks of the project to his team members and each member should be accountable for his task. Jonas should teach his team about the significance of time management and therefore task must be completed before deadlines. Each member of the team must have defined responsibilities and roles.
Answer:
Fixed costs that can be avoided by discontinuing the line.
Explanation:
Avoidable costs are those costs which can be eliminated by closing or rejecting a decision under evaluation. These costs are mostly variable coasts which vary with the change in activities. More activity more cost, less activity less cost and no activity no cost.
So fixed costs that can be avoidable by discontinuing the project is the only irrelevant cost between the given options.
