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-BARSIC- [3]
3 years ago
10

Edgar, Inc. has a materials price standard of $2.00 per pound. Six thousand pounds of materials were purchased at $2.20 a pound.

The actual quantity of materials used was 6,000 pounds, although the standard quantity allowed for the output was 5,400 pounds. Edgar, Inc.'s materials quantity variance is:
Business
1 answer:
butalik [34]3 years ago
6 0

Answer:

materials quantity variance: 1,200 unfavorable

Explanation:

(standard\:quantity-actual\:quantity) \times standard \: cost = DM \: quantity \: variance

std quantity 5400.00

actual quantity 6000.00

std cost  $2.00

(5,400 - 6,000) \times 2.00 = DM \: quantity \: variance

difference -600.00

quantity variance  $(1,200.00)

The difference between standard and actual quantity is negative. We used more pounds than expected, the variance will be unfavorable.

600 extra pounds at $2.00 each = 1,200

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After retirement, you expect to live for 24 years. You would like to have $75,000 income each year. How much should you have sav
poizon [28]

Answer:

The amount that you should have saved in your retirement account to receive this income is:

= $727,995.88.

Explanation:

a) Data and Calculations:

Expected lifespan = 24 years

Expected annual income = $75,000

Interest rate per year = 9%

The amount of savings in the retirement account to receive this income is calculated from an online financial calculator as follows:

N (# of periods)  24

I/Y (Interest per year)  9

PMT (Periodic Payment)  75000

FV (Future Value)  0

 

Results

PV = $727,995.88

Sum of all periodic payments = $1,800,000.00

Total Interest = $1,072,004.12

5 0
2 years ago
Frantic Fast Foods had earnings after taxes of $900,000 in 20X1 with 301,000 shares outstanding. On January 1, 20X2, the firm is
Semmy [17]

Answer:

A.$2.99

B.$1.15

Explanation:

Frantic Fast Foods

A.Computation of the earnings per share for the year 20X

Using this formula

Earnings per Share=Earnings after Taxes/Shares Outstanding

Let plug in the formula

900,000/301,000

=$2.99

The earnings per share for 20X1 will be $2.99

B. Computation of the earnings per share for the year 201X

Earnings after Taxes= 301,000 * 1.28 = 385,280

Shares Outstanding=301,000 + 32,000 = 333,000

Hence,

Earnings after Taxes/Shares Outstanding

385,280 / 333,000 = $1.15

Therefore the earnings per share for 20X1 will

be $1.15 .

5 0
3 years ago
Which economist most supported the idea that poor workers would
Alla [95]
Thomas Robert Malthus is the economist who supported it the most
6 0
3 years ago
Read 2 more answers
_____________ measures how changes in price affect the quantity of product demanded.
Margaret [11]

Price elasticity of demand measures how changes in price affect the quantity of product demanded. A good or service's price elasticity of demand is calculated by dividing percentage change in the amount sought by percentage change in the price.

The ratio of the percentage change in quantity supplied to the percentage change in price is  price elasticity of supply. A good or service's price elasticity of demand is calculated by dividing percentage change in  amount sought by the percentage change in price.

The ratio of percentage change in quantity supplied to percentage change in price is  price elasticity of supply.

To learn more about price elasticity, click here

brainly.com/question/13691796

#SPJ4

5 0
2 years ago
Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 470,000 shares of $9 par common stock and 65,000 share
Ann [662]

Answer and Explanation:

a. The journal entries are shown below:

1) Cash Dr  (16,000 shares × $14) $224,000

        To Common stock (16,000 shares × $9) $144,000

        To Additional paid in capital - common  (16,000 shares × 5) $80,000

(Being the issuance of the common stock is recorded)

2 Cash Dr  (15,000 shares × $30) $450,000

        To Preferred stock (15,000 shares × $25) $375,000

        To Additional paid in capital - preferred  (15,000 shares × $5) $75,000

(Being the issuance of the preferred stock is recorded)

3) Cash Dr  (52,000 shares × $17) $884,000

        To Common stock (52,000 shares × $9) $468,000

        To Additional paid in capital - common  (52,000 shares × $8) $416,000

(Being the issuance of the common stock is recorded)

We debited the cash to record this journal entries as it raised the assets and credited the common stock and additional paid in capital, as it also raised the equity of the stockholder

b. The preparation of the stockholder equity section of the balance sheet is presented below:

                          Stockholders' equity section of the balance sheet

Common stock  $612,000    ($144,000 + $468,000)

preferred stock $450,000

Additional paid in capital - preferred $75,000

Additional paid in capital - common   $496,000   ($80,000 + $416,000)

Total $1,633,000

4 0
3 years ago
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