budget variance was the difference in ROI between the budgeted and actual amounts
<h3>What is
budget variance?</h3>
A budget variance is an accounting term that refers to situations in which actual costs are higher or lower than the standard or projected costs. An unfavorable, or negative, budget variance indicates a budget shortfall, which can occur when revenues fall short or costs exceed expectations.
Typically, variance reports are used to examine the gap between budgeted and actual performance. Depending on the financial outcomes being compared, the variance report may also be referred to as "budget variance" or simply "variance." The difference between the budgeted/baseline goal and the actual reality is referred to as "variance."
Budget variance equals the difference between the budgeted amount of expense or revenue, and the actual cost.
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Answer:
The days' sales in inventory for 2019 is 85.88 days
Explanation:
For computing the days' sales in inventory first we have to compute the inventory turnover ratio.
Inventory turnover ratio = Cost of goods sold ÷ average inventory
where,
Average inventory = (Opening balance of inventory + ending balance of inventory) ÷ 2
= ($25,000+ $ 55,000 ) ÷ 2
= $40,000
And, the cost of good sold is $170,000
Now put these values to the above formula
So, the answer would be equal to
= $170,000 ÷ $40,000
= 4.25 times
Now days sales inventory = Total number of days in a year ÷ inventory turnover ratio
= 365 days ÷ 4.25 times
= 85.88 days
Answer: The process of leading.
Explanation: The process of leading, administrating and directing a company. Business tasks often performed by corporate management might include strategic planning, as well as managing company resources and applying them toward attaining the company's objectives.
Answer and Explanation:
The matching is as follows:
1. Cash receipts journal - since cash is received
2. General journal - since the items is returned
3. Purchase journal - since purchase is done
4. Purchase journal - since purchase is done
5. Cash disbursement journal - since cash is paid
6. Cash disbursement journal - since cash is paid
7. Purchase journal - since purchase is done
8. General journal - since expenses are recorded
9. General journal - since the items is returned
10. Cash receipts journal - since cash is received
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