Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
$400 favorable
Explanation:
The computation of the volume variance is shown below:
Fixed overhead Volume Variance = Actual Overheads - Budgeted Overheads
where,
Actual overhead is
= 5,200 units × 2 hours × $1
= $10,400
And, the budgeted overhead is
= 5,000 units × 2 hours × $1
= $10,000
So, the volume variance is
= $10,400 - $10,000
= $400 favorable
We simply deduct the budgeted cost from the actual cost so that the difference could be come
The answer is <span>The start-up costs in a monopolistically competitive industry are low.</span>
Answer:
Increase in the estimated life of depreciable assets
Opinion of third parties
Explanation:
If management reports truthfully, the economic events that are likely to prompt the following accounting changes are an increase in the estimated life of depreciable assets.
The features of accounting, that would make it costly for dishonest managers to make the same changes without any corresponding economic changes is auditing.
Auditiors are the third parties which provide a clean account of the financial statement of the company, therefore if the changes in the accounting policy are consistent with economic changes, the audits will not provide a clean account of the financial statement
Answer: Summarize the change in expenditures between budgets. Show the findings of your personal financial analysis using appropriate graphs/charts in Excel.
Explanation:
