Answer:
(i) 95 (F)
(ii) 125 (F)
(iii) 220 (Overapplied)
Explanation:
Variable Overhead Rate Variance:
= Actual Hours × (Actual Rate - Standard Rate)
= 1,900 × ($1.20 - $1.25)
= 95 (F)
Variable Overhead Efficiency Variance:
= Standard Rate × (Actual Hours - Standard Hours)
= $1.25 × (1,900 - 1 × 2,000)
= 125 (F)
Over- or Underapplied Variable Overhead:
= Actual Overhead Incurred - Overhead Applied
= (1,900 × $1.20) - (2,000 × $1.25)
= 220 (Overapplied)
Answer:
Balance sheet, what amount should Farley report as allowance for uncollectible accounts?
if we take the final balance of accounts receivable $582000
If the wrotte off difference affects the final balance and we do not register additional expenses. $469000
Explanation:
Credit balance allownace 523000
Allowance for uncollective 3%
Wrotte off 636000
Credit sales 19400000
Allowance for uncollective 3%
582000
Credit balance 523000
Wrotte off 636000
-113000
Allownace for uncollectible 469000
Answer:
MIRR = 4.32%
Explanation:
year cash flow
0 -$795,000
1 $375,000
2 -$500,000
3 $600,000
4 $400,000
Since there are 2 cash outflows, the IRR calculation would result in two different answers (1 for every cash outflow), that is why we use the MIRR function in excel.
=MIRR (cash flows, finance rate, reinvestment rate)
=MIRR (-795000 to 400000, 5.5%, 5.5%)
Since we are only given one interest rate, we will use it as our finance rate and our reinvestment rate.
MIRR = 4.32%
Answer:
A) It is subtracted from the Bonds Payable balance and shown with long-term liabilities on the balance sheet
Explanation:
The discount on Bonds payable, as their name implies, decrease the Bonds Payable carrying value. A bond with discounts, was issued at a lower price than his face value. The discount on bonds represent that difference.
It takes amortization while the time past, until at maturity, their balance is zero, to represent the reality, the obligation for the company is for the face value, so the carrying value of bonds payable should equal the face value.
Last, because the bonds are due in ten-year their place is the long-term liabilities. As their obligation are not within the 12 month period to qualify as short-term
Occasionally our economy experiences an unusual combination of rising prices and high unemployment. economists have given this unusual pairing the name stagflation.
Stagflation is a combination of the words ‘stagnation’ and ‘inflation’. It refers to the economic trend where there is rising prices yet high levels of unemployment.
It leads to an intractable situation where policy initiatives to boost economic growth such as expansionary monetary policy worsens the inflation rate, while attempts to rein in inflation has a further dampening effect on the economy. It is often caused by poor economic policies.
Stagflation was observed in the US economy during the oil crisis of the 1970s that caused a major recession. But inflation and unemployment rates were at a high during this time.
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