Answer:
B. Scenario analysis
Explanation:
Just like the name implies, it involves the analysis or description of various possible outcomes/action/events in the future. It is the process of analyzing future event by considering alternative possible outcomes.
It estimates the expected events.
After the failures suffered by PPG, they thought it better to use a technique that predicts possible occurence in order to avoid a repetition of those failures.
Answer:
Debit Office supplies, $500; credit Accounts payable, $500.
Explanation:
Purchase of supplies on credit will increase the supplies and increase the account payable balance as well. Supplies account is an asset account therefore it has debit balance and Account payable is a liability account so it has credit balance. To reflect the event following Journal entry is recorded.
Debit Office supplies $500
Credit Accounts payable $500
Answer:
The correct answer is: to start a business plan.
Explanation:
To begin with, if Jeffery is looking forward to start a new business and with that he needs to persuade lenders or investors then he must start a business plan with enough information and strategies that can show to those people the fact that the business has a solid background and more than that it will show also that Jeffery is a serious person and will compromise to pay all the lends he take. That is why, the preliminary step in beginning his new business will be to make a plan where he state all the information necessary to start.
Answer:
$33,700 (Favorable)
Explanation:
Note: Figures are not inputted. The missing figures have been figured out as below.
"<em>Nexus industries uses a standard costing system to apply manufacturing costs to its production process. In May nexus anticipated 2700 units with fixed manufacturing overhead costs allocated at $8.40 per direct labor hour with a standard of 2.5 direct labor hours per unit. In May, actual production was 3400 units and actual fixed manufacturing overhead cost were $23000. What was nexus fixed manufacturing overhead volume variance in May</em>?"
Solution:
Budgeted fixed overhead costs = Units * Direct labor cost * Standard Direct Labor hours per unit
= 2,700 units * $8.40 * 2.5
= 2,700 units * 21
= $56,700
Fixed manufacturing overhead volume variance = Actual fixed overhead cost - Budgeted fixed manufacturing overhead costs
When Actual fixed overhead = $23,000
, Budgeted fixed overhead costs = $56,700
Fixed manufacturing overhead volume variance = $23,000 - $56,700
= $33,700 (Favorable)
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