Answer: $66,810,000
Explanation: take the balance at the beginning of the year add it to the net income from statement of comprehensive incomes then minus the cash dividends declared from the total of the beginning balance and net income then get the retained balance at the end of the 20Y3 year of 66 810 000.
The stock dividends of 2,600,000 have two accounts involved which is stock( inventory) and dividends declared which is an liability.
Sumter Pumps Corporation
retained income statement for the year ending 31 december 20Y3
balance 01/jan/20Y3 $59,650,000
CHANGES IN EQUITY
Net Income 8,160,000
dividends paid and declared
Cash dividend 1,000,000
stock dividend 0
balance 31 dec 20Y3 $66,810,000
Answer:
Variable Overhead Rate Variance - $55 favorable
Variable Overhead Efficiency Variance - $275 favorable
Over applied efficiency variance - $330 favorable
Explanation:
The computations are shown below:
Variable Overhead Rate Variance = Actual Hours × (Actual Rate - Standard variable overhead Rate)
= 1,100 hours × ($2.70 - 2.75)
= $55 favorable
Variable Overhead Efficiency Variance = Standard variable overhead Rate × (Actual Hours - Standard Hours)
= $2.75 × (1,100 hours - 1 × 1,200)
= $275 favorable
So, the over-applied variable overhead would be
= $55 favorable + $275 favorable
= $330 favorable
Answer: See explanation
Explanation:
Absolute advantage simply means when an economic entity such as individuals or the firms can produce a particular good more efficiently than others who produce similar good. In this case, a larger quantity is produced when compared to others.
Comparative advantage is when an economic agent can actually produce goods at an opportunity cost that's lower than the opportunity cost of its competitors. Due to this, such economic agent can sell its good at a cheaper price than others and therefore make more revenue.
Answer:
not change
Explanation:
BEP (Units) = Fixed cost / (Unit selling price - Unit variable cost)
BEP (Units) Before the change is : 967750/ (30-17.75) = 79000 units
BEP (Units) after the change is: 1145500/(30-15.5) = 79000 units
--> BEP (Units) does not change
Answer:
A)control corporate behavior
Explanation:
Sarbanes-Oxley Act which came up in 2002, can be regarded as Public Company Accounting Reform and Investor Protection Act, is a reform act for public companies and investor protector. Sarbanes-Oxley Act was popped up in U S in order to to get the auditing of public companies fixed. It should be noted that the Sarbanes-Oxley Act was passed in an effort to control corrupt corporate financial behavior.
