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weeeeeb [17]
3 years ago
8

The difference between actual and standard cost caused by the difference between the actual quantity and the standard quantity i

s called the: Group of answer choices Controllable variance. Standard variance. Budget variance. Quantity variance. Price variance.
Business
1 answer:
victus00 [196]3 years ago
5 0

Answer:

Quantity variance.

Explanation:

The difference between actual and standard cost caused by the difference between the actual quantity and the standard quantity is called the Quantity variance.

For instance, if Tony needs a standard quantity of 50 pounds of iron to construct a burglary, but only used 51 pounds, then the quantity variance is 1 pound of iron.

<em>Hence, the quantity variance is simply the difference between the actual quantity of materials that should be used and the quantity of materials that was used. </em>

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Prepare the journal entries to record the following transactions for Reese Company, which has a calendar year end and uses the s
belka [17]

Answer:

Reese Company Journal entries

September 30, 2017

Dr Depreciation Expense 12,000

Cr Accumulated Depreciation -Equipment 12,000

(To record depreciation expense)

Dr Cash 46,000

Dr Accumulated Depreciation-Equipment 44,000

Dr Loss on Disposal of Plant Assets 6,000

Cr Equipment 96,000

(To record sale of delivery equipment at a loss)

b)On June 30, 2017

Dr Cash 24,000

Dr Accumulated Depreciation-Equipment 15,000

Cr Equipment 36,000

Cr Gain on Disposal of Plant Assets 3,000

(To record sale of office equipment at a gain)

Explanation:

a.September 30, 2017

Calculation for Depreciation Expense and Accumulated Depreciation -Equipment

We have to record depreciation expense for the first 9 months of 2017 which is

$80,000 ÷ 5 years = $16,000 ×9/12 = $12,000

Calculation for Accumulated Depreciation-Equipment:

($32,000 + $12,000) =44,000

Calculation for Loss on Disposal of Plant Assets

($52,000 – $46,000) =6,000

b)On June 30, 2017

Calculation for Gain on Disposal of Plant Assets

($24,000 – $21,000)=3,000

7 0
3 years ago
Question in picture.
jonny [76]
I believe it’s 4 since you have to go to class and introduce yourself to the teachers so he/she will know you better and know how they can help you and when going to their office hours they can help you with anything that you are having trouble with.
5 0
3 years ago
Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you received your s
s344n2d4d5 [400]

Answer:

Final Value= $4,216,869

Explanation:

Giving the following information:

You have decided that one year from today you will begin depositing 10 percent of your annual salary in an account that will earn 9.2 percent per year. Your salary will increase at 3 percent per year throughout your career. Your salary is $52,000

Your retirement is in 40 years.

We need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A=annual payment= 5,200

i= 9.2% interest + 3% year increase= 12.2%

n=40

FV= {5,200*[(1.122^40)-1]}/0.122

FV= $4,216,869

6 0
3 years ago
How do I make quick money as a 13 year.old with no alouence.
Katena32 [7]
You can sell candy and send out flyers
3 0
3 years ago
The founders of Life is Good started their business by hawking​ t-shirts on the street and selling them door to door in college
Georgia [21]

Answer:

product mix

Explanation:

Based on the information provided within the question it can be said that these assorted product lines might be described as Life is​ Good's product mix. In the context of marketing, this term refers to the total range of several related products that have been placed for sale individually by a company that is currently offering these products in the target market or industry that they are in.

6 0
3 years ago
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