<u>Calculation of the amount of stockholders’ equity at the end of the year;</u>
First, we need to calculate the amount of stockholders’ equity at the beginning of the year with the help of the accounting equation as follows:
Beginning Equity = Beginning Assets – Beginning Liabilities
Beginning Equity = 90,000-65,000 = $25,000
Now we can calculate the ending equity using the following formula;
Ending Equity = Beginning Equity +Revenues – Expenses – Dividends
Ending Equity =25000+100000-70000-40000 = $15,000
Hence, the amount of stockholders’ equity at the end of the year is <u>$15,000</u>
Answer:
Variable manufacturing overhead rate variance= $688.8 favorable
Explanation:
Giving the following information:
Variable overhead 0.3 hours $5.70 per hour
The company used 2,460 direct labor-hours to produce this output. The actual variable overhead cost was $13,331.
<u>To calculate the variable overhead rate variance, we need to use the following formula:</u>
Variable manufacturing overhead rate variance= (standard rate - actual rate)* actual quantity
Actual rate= 13,331/2,460= $5.42
Variable manufacturing overhead rate variance= (5.7 - 5.42)*2,460
Variable manufacturing overhead rate variance= $688.8 favorable
Answer: See explanation
Explanation:
a. Compute 2020 depreciation expense using the straight-line method.
This will be:
= (Cost of the asset - Salvage value) / Useful life of the asset
= ($96,000 - $9600) / 8
= $86400 / 8
= $10,800
b. Compute 2017 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on October 1, 2017.
This will be:
= $10,800 × 3/12
= $10800 × 0.25
= $2700
Answer: $44.18
Explanation:
Given the following :
Cost of corned beef per pound = $5.49
Cost of pastrami per pound = $4.95
Pound of corned beef = 3.9 pounds
Pound of pastrami = 4.6 pounds
Therefore ;
Total cost = (cost per pound × number of pound)
Total Cost of corned beef = 3.9 × $5.49 = $21.411
Total cost of pastrami = 4.6 × $4.95 = $22.77
Total cost of corned beef and pastrami :
$21.411 + $22.77 = $44.181
$44.18
They will consider the team meetings to be extremely important.