Answer:
Net equity is $727,500.
Explanation:
Statement of Owner's Equity:
Share Capital $781,000
Withdrawals $19,000
Net Loss $34,500
Net equity $727,500
A favorable direct materials cost variance occurs when the actual direct cost of the materials is lower than the budgeted cost of materials. Favorable direct materials cost variance would indicate<span> that there was savings with the cost for the direct materials used by the company.</span>
Answer:
see below
Explanation:
Online-only banks lack a physical presence like traditional banks. They operate over the internet and usually offer higher interest rate than the regular bank. Two reasons make them offer higher interests.
- Online banks do not require huge space under brink and mortar to operate. They do not need a large number of employees compared to other banks. It means they have low operating expenses, hence more profitable. Online-only banks can afford to pass the benefits of low running costs to their customers by offering high interest on deposits.
- Online-only banking is still a new concept in the banking industry. To gains popularity and attract more customers, online banks are offering higher interest rates than regular banks.
Answer:
(1) 2,600
(2) $122
(3) $317,200
Explanation:
(1) Ending Inventory:
= Beginning Inventory + Number of Units Produced - Number of Units Sold
= 300 + 15,000 - 12,700
= 2,600
(2) Per-unit product cost:
= Direct Material + Direct Labour + Variable Overhead + Fixed Overhead
= $20 + $60 + $12 + $30
= $122
(3) Value of Ending Inventory under absorption costing:
= Ending Inventory × Absorption Per-unit product cost
= 2,600 × $122
= $317,200