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AnnyKZ [126]
3 years ago
7

Timberlake Company planned for a production and sales volume of 12,000 units. However, the company actually made and sold 13,000

units. Per unit standards Static Budget Flexible Budget Number of units 12,000 13,000 Sales revenue $ 65.00 $ 780,000 $ 845,000 Variable manufacturing costs: Materials $ 11.00 132,000 143,000 Labor $ 9.00 108,000 117,000 Overhead $ 4.20 50,400 54,600 Variable general, selling, and administrative costs $ 11.00 132,000 143,000 Contribution margin 357,600 387,400 Fixed costs Manufacturing overhead 100,800 100,800 General, selling, and administrative costs 45,000 45,000 Net income $ 211,800 $ 241,600 What was the sales volume variance?
Business
1 answer:
Aleks04 [339]3 years ago
5 0

Answer:

$65,000 Favorable  

Explanation:

  • Volume variance compute the difference due to volume of sales budgeted and actual sales qty.

  • Budgeted Selling pricec =780000 /12000 = 65

  • Sales volume variance = Budgeted Selling price (Actual sales qty-Budgeted Sales qty)  

65.00 (13000-12000) = 65000 Fav

 

Answer is $ 65000 Favorable      

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Assume the following data for Cable Corporation and Multi-Media Inc.
Tatiana [17]

Answer:

a-1 Cable Corporation 13.05

Multi-media Inc. 33.1%

a-2 Multi-Media Inc.

2. Cable Corporation Multi-Media Inc.

Net income/Sales 9.84% 5.19%

Net income/Total assets 7.76% 14.51%

Sales/Total assets .79 times 2.80 times

Debt/Total assets 40.55% 56.17%

Explanation:

a-1. Computation to determine the return on stockholders’ equity for both firms.

CABLE CORPORATION

Using this formula

Return on Stockholders’ Equity= Net Income / Stockholder’s equity

Let plug in the formula

Return on Stockholders’ Equity=$31,200 / 239,000

Return on Stockholders’ Equity= 0.1305*100

Return on Stockholders’ Equity=13.05%

MULTI-MEDIA INC.

Return on Stockholders’ Equity=$140,000 / 423,000

Return on Stockholders’ Equity= 33.1%

a-2. Based on the above calculation the firm that has the higher return is MULTI-MEDIA INC.

b. Computation for the following additional ratios for both firms.

Cable Corporation Multi-Media Inc.

Net income/Sales 9.84% 5.19%

($31,200/317,000=9.84%)

($140,000/2,700,000=5.19%)

Net income/Total assets 7.76% 14.51%

($31,200/402,000=7.76%)

($140,000/965,000=14.51%)

Sales/Total assets .79 times 2.80 times

(317,000/402,000=.79 times

(2,700,000/965,000=2.80 times)

Debt/Total assets 40.55% 56.17%

(163,000/402,000=40.55%)

( 542,000/965,000=56.17%)

4 0
3 years ago
Kana is a single wage earner with no dependents and taxable income of $205,000 in 2018. Her 2017 taxable income was $155,000 and
garri49 [273]

Answer:

$47439.50

Explanation:

For a single tax payer if your taxable income range is $200,000 - $500,000 then your income tax is $45,689.50 + 35% of amount over $200,000 of taxable income.

Income tax liability = $45689.50+{ 205000-200000)×35%}

$45689.50+(5000×35/100)

$45689.50+(5000×0.35)

$45689.50+1750

= $47439.50

The income tax liability will be $47439.50

5 0
3 years ago
What is FFA’s publication titled?<br> Boundaries<br> Vistas<br> Perspective<br> Horizons
vladimir1956 [14]

Answer:

horizons

Explanation:

Learn everything you need to know about FFA—its history, bylaws, constitution and more—with the Official FFA Manual, now available online for free. You can also view the links on your mobile phone for easy access.

5 0
1 year ago
Which 3 data points can be imported into the app transactions tab in quickbooks online?.
Dmitry [639]

Answer: Description, Date, and Amount. 

5 0
2 years ago
Racing Motors wants to save $825,000 to buy some new equipment three years from now. The plan is to set aside an equal amount of
victus00 [196]

Answer:

$63,932.91

Explanation:

FV = $825,000

Number of payments = 4 quarters * 3 years = 12

Rate = 4.45%, assuming per annual

The amount company need to save each quarter is the payment amount.

We can easily calculate payment amount by formula in excel =PMT(4.45%/4,12,,825000,1) = 63,932.91

6 0
3 years ago
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