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Varvara68 [4.7K]
3 years ago
13

Which of the following statements is true? a.The sales budget includes both units and dollars. b.The direct labor budget uses an

average wage rate for direct labor. c.The overhead budget is typically composed of variable overhead and fixed overhead.d.The production budget is not converted into dollars. e.All of these choices are correct.
Business
1 answer:
kupik [55]3 years ago
6 0

Answer:

E) All of these choices are correct.

Explanation:

A sales budget estimates the total amount of goods and services that a company plans to sell during the next accounting period, it includes both units of goods or services and the money they should generate.

The direct labor budget estimates how much the company will spend in direct labor during the next accounting period. It includes the wage rate per hour and the hours needed to complete the production requirements.

The overhead budget estimates the expected costs for all production costs except direct materials and direct labor, it is divided into variable overhead per unit and fixed overhead per total production.

The production budget estimates the number of units that should be produced, it doesn't consider production costs nor selling price.

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2 years ago
Tempe Office Services and Supplies (TOSS) provides various products and services in the Tempe Research Park, home to numerous hi
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6 0
2 years ago
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A donor gave equipment valued at $90,000 at the beginning of 2020 to a private not-for-profit organization. The equipment had a
Slav-nsk [51]

The net asset would be $81,000 or $0 depending upon the policy of the Non-Profit Organization.

<h3><u>What is a Non-Profit Organization?</u></h3>
  • A non-profit organization is a group that was established with the intention of making a profit, and in which no part of the organization's revenue is given to its directors, officials, or members.
  • "Non-stock corporations" are a common moniker for nonprofit organizations.
  • They may be organized as a corporation, a sole proprietorship, an unincorporated association, a partnership, a foundation, a condominium, or another type of individual enterprise (for instance, individual charitable contributions) (joint ownership of common areas by owners of adjacent individual units incorporated under state condominium acts).
  • When they are established, nonprofit organizations must declare themselves to be so and are only allowed to work on projects that fall under their legal definition.

The value of the equipment given by the donor = $90,000

The charge of depreciation = $9,000.

The total assets of a business less the total liabilities equals the entity's net assets. The sum of a company's net assets equals its stockholders' equity in whole. Net assets are divided into unrestricted and restricted net assets of a nonprofit organization.

The net asset would be either $81,000 or $0.

Know more about Non-Profit Organization with the help of the given link:

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5 0
2 years ago
On April 1, 2015, the City of Southern Ponds issued $3,500,000 in 4% general obligation, tax supported bonds at 101 for the purp
LUCKY_DIMON [66]

Answer:

B) $ 70,000.

Explanation:

Debt service expense

Debt service expense is the interest expense incurred to avail the debt services from another entity.

Debt service expense can be calculated using the following formula

Debt service expense = Face value of Bonds x Interest rate x Semiannual fraction

Where

Face value of bonds = $3,500,000

Interest rate  = 4%

Semiannual fraction = 6 / 12 = 1/ 2

placing values in the formula

Debt service expense = $3,500,000 x 4% x 1/2

Debt service expense = $70,000

3 0
2 years ago
RideShare offers short-term rentals of vehicles that are kept in small lots in urban neighborhoods with plenty of potential cust
Free_Kalibri [48]

Answer:

a. Offered load = 1 lot / 4 hours = 6 cars/4 hours = 1.5 cars/hours

b. Demand rate = Total cars per 4 hours/20 minutes time

Demand rate = 6*4 / 20

Demand rate = 24/20

Demand rate = 1.2 cars/hours

Implied utilization = Demand rate / Offered load

Implied utilization = 1.2/1.5

Implied utilization = 0.8

Implied utilization = 80%

c. Capacity of the process = 1 lot / 5 hours

Capacity of the process = 6 / 5

Capacity of the process = 1.2 rentals per hours

d. Probability that all eight cars are rented at the same time

=> (1 - 0.8) * (0.8)^8

=> 0.2 * 0.1678

=> 0.03356

=> 3.36

5 0
2 years ago
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