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4 years ago

The budget for Department 6 of Cardinal Company for the current month ending March 31 is as follows:

Business

1 answer:

Hitman42 [59]4 years ago

7 0

Answer:

a) Cardinal Company, department 6

Budget performance report

For the month ended march 31, 202x

Budget Actual Over Under

budget budget

Materials $208,000 $204,000 $4,000

Factory wages $265,000 $285,000 ($20,000)

Supervisory salaries $67,800 $63,600 $4,200

Depreciation P&E $35,000 $35,000 - -

Power and light $22,500 $21,360 $1,140

Insurance and $15,500 $14,400 $1,100

property taxes

Maintenance $9,700 $9,456 $244

Total $623,500 $632,816 ($9,316)

b) Factory wages were higher than budgeted by $20,000 or 7.55%, supervisory salaries were lower than budget by $4,200 or 6.19%, power and light were lower than budgeted by $1,140 or 5.07%, and insurance and property taxes were lower than budgeted by $1,100 or 7.1%

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Charlie Chairs Inc., manufactures plastic moldings for car seats. Its costing system utilizes two cost categories, direct materi

UNO [17]

Answer:

Units transferred out = 760

Explanation:

If we assume that all units are completed in the order of arrival i.e (FIFO), then the units transferred out is the sum of the opening inventory and the units started and completed in the period. The units started and completed in the period is referred to fully-worked.

Fully worked is computed as the units started in the period less the closing inventory .

Fully- worked = 800 - 240 = 560

The units transferred out = opening inventory + Fully-worked

= 200 + 560 = 760

Units transferred out = 760

Note we assumed that the units of the inventory( started last period i.e January) would be worked on first in the month of February before any other units. So, it is assumed completed by the end of February

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3 years ago

Prices usually reflect a. both the value of a good to society and the cost to society of making the good. b. only the cost to so

quester [9]

Answer:

The correct answer is letter "A": both the value of a good to society and the cost to society of making the good.

Explanation:

Price is the monetary value of a good or service that consumers are willing to pay and producers are willing to accept. <em>For companies, it represents the production costs of the good plus the unitary revenue they expect to obtain. For consumers, it is the value they provide to the good offered according to the type of need the good is destined to fulfill.</em>

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4 years ago

The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don't have time." Yo

IgorC [24]

The April ledger accounts for cash showed is :

JEFFERSON COMPANY

Bank Reconciliation, April 30, Current Year

Company's Books Bank Statement

Ending balance per cash account 26100 Ending balance per bank statement 23690

Additions: Additions:

Interest collected 1320 Deposits in transit 7200

1320 7200

27420 30890

Deductions: Deductions:

NSF—A. B. Wright 270 Outstanding checks 3800

Bank charges 60

330 3800

Correct cash balance 27090 Correct cash balance 27090

General Journal Debit Credit

1 Cash 1320

Interest revenue 1320

2 Accounts Receivable—A. B. Wright 270

Cash 270

3 Bank service charge expense 60

Cash 60

Cash balance 27090

Total amount of cash 27090

Deposits in transit = 43300-36100 = 7200

In accounting, a well-known ledger is used to file all of an agency's transactions. inside a general ledger, transactional data is organized into assets, liabilities, sales, fees, and proprietor's equity. After each sub-ledger has been closed out, the accountant prepares the trial stability.

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5 0

1 year ago

Tim is a single, cash-method taxpayer with an AGI of $50,000. In April of this year, Tim paid $1,100 with his state income tax r

Ivan

Answer:

The amount of taxes that Tim can deduct as an itemized deduction is $7,340

Explanation:

The computation of the itemized deduction is shown below:

= State income tax for the previous year + state income tax from his salary + estimated payments of state income tax

= $1,100 + $5,050 + $1,190

= $7,340

The other item values which are mentioned in the question are not considered and not affect the deductions for current year So, we do not take in the computation part. Hence, ignored it

8 0

3 years ago

enrique borrowed $3600 to put a down payment on a motorcycle. the loan had a simple interest rate of 8% for 2 years. use the fo

Rudik [331]

Answer:

The amount of interest is $576.

Step by step explanation :

Given : Enrique borrowed $3600 to put a down payment on a motorcycle. The loan had a simple interest rate of 8% for 2 years.

To find : The amount of interest he will pay on the loan.

Solution : Using the formula,

$I=P\times R\times T$

Where, I= Interest , P=principal , R= rate, T=time in years

We have given that :

P=$3600

R=8%=0.08

T=2 years

Substitute value in the formula to find interest,

$I=P\times R\times T$

$I=3600\times 0.08\times 2$

$I=576$

Therefore, The amount of interest is $576.

6 0

3 years ago