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yanalaym [24]
3 years ago
11

A CPA firm evaluates its personnel advancement experience to ascertain whether individuals assigned to increased degrees of resp

onsibility meet predetermined criteria. This policy is evidence of the firm's adherence to which of the following prescribed standards?
A. professional ethics
B. supervision and review
C. accounting and review services
D. quality control
Business
1 answer:
CaHeK987 [17]3 years ago
3 0

Answer:

Supervision and review ( B )

Explanation:

supervision and review is part of a firm's policy used to check the results of its  previous actions or inaction  that will affect the growth and profitability of the business of the company .

Review is a way of evaluating the personnel advancement experience of the individuals given a certain task performed the given task excellently, while supervision is used to guide the individuals while they are actually carrying out the task and also to determine if they meet the predetermined criteria before being assigned to the task.    while professional ethics is the general standard set for every one regardless of the task you perform .

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An individual is now 50 years old, that he plans to retire in 10 years, and that he expects to live for 25 years after he retire
Nutka1998 [239]

Answer:

Ans.  He must save during each of the following 10 years, at the end of each year $32,452.

Explanation:

Hi, in order to find the amount of money that he should have in ten years so he can receive an annual payment of $65,156 for 25 more years (24 payments), we need to bring to present value all 24 payments to year 10. Let me show you the formula.

PresentValue_{10} =\frac{A((1+r)^{n}-1) }{r(1+r)^{n} }

Where:

A= $65,156

n= 24

r= 0.08

Therefore the present value in year 10 is:

PresentValue_{10} =\frac{65,156((1+0.08)^{24}-1) }{0.08(1+0.08)^{24} }=686,012

So that is our present value in year 10, or to put it in other words, our future value (if we look at it from year 0). Now we need to find the annuity (amount to save) that with account for $686,012, plus that $100,000 that he already has saved.

Every should look like this.

686,012=100,000*(1+0.08)^{10} +\frac{A((1+0.08)^{10}-1) }{0.08(1+0.08)^{10} }

And we solve this equation for "A".

686,012=A(14.4865625)+215,892

A=\frac{(686,012-215,892)}{14.4865625} =32,452

Best of luck.

5 0
3 years ago
At the start of the current year, Company A purchased 30% of Company B for $45 million. At the time of purchase, the carrying va
brilliants [131]

Answer: a. $4.5 million

Explanation:

The depreciation to be recognized is;

= Value of Depreciable assets * Percent of company owned

= 15,000,000 * 30%

= $4,500,000

5 0
3 years ago
Bodin Company manufactures finger splints for kids who get tendonitis from playing video games. The firm had the following inven
Ilia_Sergeevich [38]

Answer:

Raw Material $191,000

Direct labor $300,000

Actual manufacturing overhead $170,000

Actual selling and administrative expenses $115,000

The company applies manufacturing overhead at the rate of 60 percent of direct-labor cost.

1.

Prime Cost = Direct Material + Direct Labor

Prime Cost = $191,000 + $300,000 = 491,000

2.

Cost of goods manufactured                                    $

Direct material                                                      $191,000

Add: Direct Labor                                                $300,000

Add: Manufacturing overhead                           <u>$170,000</u>

Manufacturing cost                                             <u>$661,000</u>

3.

Manufacturing cost                                             $661,000

Add: Work in process inventory at January 1    $235,000  

Less: Work in process inventory at January 31 <u>$251,000</u>

Cost of Goods Manufactured                             <u>$645,000</u>

4.

Cost of Goods Manufactured                             $645,000

Add: Finished Good inventory at January 1      $125,000  

Less: Finished Good inventory at January 31   <u>$117,000</u>

Cost of Goods Sold                                            <u>$653,000</u>

5.

Manufacturing overhead Account Balance

Actual overhead                = $175,000

Manufacturing overhead   = $180,000  (300,000 x 60% )

Over applied manufacturing overhead = $180,000 - $175,000

Over applied manufacturing overhead = $5,000

* Data was missing for the calculations, complete question is attached with this answer, Please find that.

3 0
3 years ago
Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $9.10. D
Marrrta [24]

The price variance for Ruby company is at an unfavorable position that is $19,415, the quantity variance stands at $6,370 (favorable condition) and the cost variance has unfavorable balance that is equal to $13,045.

<h3>What is a variance?</h3>

A variance in accounting is the distinction between a forecasted quantity and the real quantity. Variances are common in budgeting, however, you may have a variance in something which you forecast.

As per the information, we have to calculate:

a) Price variance:  (Standard Price - Actual price) * Actual Quantity

   Price variance:   ($9.10 - $9.65) * 35,300

   Price variance:  $0.55 * 35,300

   Price variance:  $19,415 Unfavorable.

b)  Quantity variance =  (Standard Quantity - Actual Quantity) * Standard Price

    Quantity variance = (7,200 * 5 -  35,300) * $9.10

    Quantity variance = (36,000 - 35,300) * $9.10

    Quantity variance = $6,370 Favorable.

C) Cost variance = $19,415 Unfavorable + $6,370 Favorable

    Cost variance = $13,045 U

Hence, The price variance for Ruby company is at an unfavorable position that is $19,415, the quantity variance stands at $6,370 (favorable condition) and the cost variance has an unfavorable balance that is equal to $13,045.

learn more about variance:

brainly.com/question/15858152

#SPJ1

5 0
2 years ago
Xugooooooooooooooooooooooo
Vika [28.1K]

Answer:

hailllllllllllllllllllleyyyyyyyyyyyyyyyyyyyyyyyy

Explanation:

7 0
3 years ago
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