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3 years ago

Campbell Clothing produces men's ties. The following budgeted and actual amounts are for 2016:

Business

1 answer:

Elina [12.6K]3 years ago

6 0

Answer:

Campbell Clothing

Manufacturing Performance budget Report

For the year ended December 31, 2016

Budget Actual Difference

Direct materials $69,600 $71,000 $1,400 U

Direct labor $87,600 $86,500 $500 F

Equipment depreciation $5,000 $5,000 $0 Nil

Indirect labor $8,700 $8,600 $100 F

Indirect materials $10,440 $9,600 $840 F

Rent and insurance $12,000 $13,000 $1000 U

Total Costs $192,740 $193,700 $960 U

Workings

<u>Planning budget</u>

Direct materials 60,000 * $12 = $69,600

Direct labor 75,000 * $15,000 = $87,600

Equipment depreciation 5,000

Indirect labor 7,500 * $1.50 = $8,700

Indirect materials 9,000 * $1.80 = $10,440

Rent and insurance $12,000

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RUDIKE [14]

Answer:

Year 1 32.68 days

Year 2 46.66 days

Explanation:

Barga Co.'s

Days' sales uncollected on December 31 for year 1 will be :

Using this formula

Accounts Receivable/Net Sales x365 = Days' sales uncollected

$61,000 /$661,000× 365

= 32.68 days

Days' sales uncollected on December 31 for

year 2 will be :

$95,000/$743,000× 365

= 46.6days

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3 years ago

WILL GIVE BRAINLIEST! Why would someone choose to start a company as a Franchise rather than a Sole Trader or Partnership?

erastova [34]

Answer:

Explanation:

The franchisee has the advantage of having an established brand that potential customers easily can recognize. On the other hand, the sole proprietor must develop his own brand and promote it through extensive, and possibly expensive, marketing campaigns.

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3 years ago

How much would it cost for chester corporation to repurchase all its outstanding shares if the price fell by 10%? assume no brok

NeX [460]

The cost for Chester corporation to repurchase all its outstanding shares if the price fell by 10% is $214.1 million.

<h3>How to calculate the cost?</h3>

It should be noted that the market value will be:

= Outstanding shares × Closing price per share

= 1906233 × 112.33

= $214.1 million.

In conclusion, the cost for Chester corporation to repurchase all its outstanding shares if the price fell by 10% is $214.1 million.

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2 years ago

A sole proprietorship: Multiple Choice provides limited financial liability for its owner. involves significant legal costs duri

zalisa [80]

Answer:

Has its profits taxed as personal income

Explanation:

Sole proprietorship: The sole proprietorship is the person who is the single owner of a company. He is personally liable for all the acts which are held in the company. In this, there is no separate entity between the company and its members.

Moreover, during filling the return, the owner has to file a tax based on the profits on its personal income

Its owner choice to continue the business for longer period or for a shorter period. So, it does not has unlimited life, neither it have limited financial liability nor it involves significant legal costs during the formation process.

So, a sole proprietorship has its profits taxed as personal income.

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3 years ago

TB MC Qu. 04-99 K. Canopy, the proprietor of Canopy Services... K. Canopy, the proprietor of Canopy Services, withdrew $6,200 fr

Svetlanka [38]

Answer:

Debit K Canopy, Capital $6,200;

Credit K Canopy Withdrawals $6,200

Explanation:

With regards to the above, the entries to close the withdrawals account at the end of the year would be;

Debit K Canopy, Capital $6,200

Credit K Canopy Withdrawals $6,200

Capital is being debited because cash is being taken from the business, hence it will be debited, while withdrawal account would be credited since its receiving cash.

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2 years ago