Answer: $14594
Explanation:
The budgeted selling expense for the manager for the month ended June 30 will be calculated thus:
The unit sales for June will be:
= [700 × (1 + 3%)]
= 700 × (1 + 0.03)
= 700 × 1.03
= 721 units
Commission will be:
= 2% × (721 × 700)
= $10,094
Therefore, the selling expenses to be reported will be:
= $10,094 + $4500
= $14594
- A franchise allows owners to be their own boss however they must still follow the rules and regulations and procedures of the franchise. In most franchises the owner must pay a large sum of money to buy into the franchise and share profits or pay royalties to the franchisor based on sales, not profits.
- In a partnership, two or more people pool their money and credit to start the business.
In order to create balance sheets and other financial accounts, trial balances are a crucial document for auditors. To identify any accounting problems, a trial balance is performed to ensure that the general ledger accounts' debit and credit column totals match.
<h3>What purpose does a trial balance serve?</h3>
Any mathematical mistakes that have occurred in a double entry accounting system can be found using a trial balance. There shouldn't be any arithmetic errors in the ledgers if the sum of the debits and credits equals the total of the trial balance.
<h3>What exactly does a trial balance contain?</h3>
It varies. A trial balance can be used by businesses to monitor their financial status, and they may create multiple different types of trial balances over the course of the fiscal year. All of the significant accounting items, including as assets, liabilities, equity, revenues, expenses, gains, and losses, may be included in a trial balance.
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Answer:
Manufacturing overhead rate(spending) variance= $24,000 favorable
Explanation:
Giving the following information:
Actual direct labor hours= 24,000
Octagon produced 8,000 units and incurred a variable overhead of $120,000.
The hours allowed per unit are 2. The standard variable overhead rate is $3.00 per direct labor hour.
To calculate the variable overhead spending variance, we need to use the following formula:
Manufacturing overhead rate(spending) variance= (standard rate - actual rate)* actual quantity
Actual rate= 120,000/24,000= 5
Manufacturing overhead rate variance= (6 - 5)*24,000
Manufacturing overhead rate variance= $24,000 favorable
Answer:
She failed to properly assess her risk of storm damage.
Explanation: Edge 2021
