1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Keith_Richards [23]
3 years ago
8

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

You might be interested in
5
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

4 0
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.

7 0
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.

Learn more about shares on:

brainly.com/question/25818989

#SPJ1

8 0
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.

5 0
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.

4 0
2 years ago
Other questions:
  • . Calculating Cost of Preferred Stock: Holdup Bank has an issue of preferred stock with a $3.75 stated dividend that just sold f
    7·1 answer
  • Can the economy grow without investment in new resources?
    6·1 answer
  • Watson Company has monthly fixed costs of $75,000 and a 40% contribution margin ratio. If the company has set a target monthly i
    7·1 answer
  • aspela Corp. had the same capital structure in year 7 and year 8, consisting of the following: Preferred stock, $12 par, 5% cumu
    7·1 answer
  • LO 8.5Identify several causes of a favorable material quantity variance.
    13·1 answer
  • Do consumers benefit in any way from monopolistic competition relative to perfect​ competition? compared to perfect​ competition
    14·1 answer
  • The people described spent their money during different time periods. Label each of their scenarios as to whether they bought th
    8·2 answers
  • Jack took up the job of a front desk staff at a reputed hotel. He will be interacting with various customers and employees from
    12·1 answer
  • A salesperson preparing a written offer from a prospect may do so by filling in the blanks on a pre-approved broker's contract f
    7·1 answer
  • Which type of degree is earned after a master’s degree?
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!