All categories

3 years ago

Degregorio Corporation makes a product that uses a material with the following direct material standards:

Business

1 answer:

dimaraw [331]3 years ago

3 0

Answer:

Materials quantity variance = $2,350 F

Explanation:

Given:

Standard quantity = 3.7 kilos per unit

Standard price = $5 per kilo

Unit produced = 6,300

Total material = 23,780

Computation:

Materials quantity variance = (Actual quantity × Standard price) - (Standard quantity × Standard price)

Materials quantity variance = (23,780 × $) - (6,300 × 3.7 × $5)

Materials quantity variance = $118,900 - $116,550

Materials quantity variance = $2,350 F

You might be interested in

Pretzelmania, Inc., issues 5%, 20-year bonds with a face amount of $50,000 for $44,221 on January 1, 2021. The market interest r

Art [367]

Answer: Please see Explanation for answer.

Explanation:

January 01, 2021:

Cash Debit 44,221

Bonds Payable Credit 44,221

Since the bonds were sold at a discount, the entry to record the first interest payment (using straight line amortization of the premium) would be:

Interest expense ($44,221× 6% × 6months/12months ) = $1,326.63 =$1,327

Cash is given as ($50,000 × 5% ×6months /12months) = $1,250

June 30, 2021:

Interest Expense Debit---$1,326.63 Bonds Payable Credit $77

Cash Credit $1,250

5 0

3 years ago

A corporation purchased manufacturing equipment for $100,000, with an estimated useful life of 10 years and a salvage value of $

bulgar [2K]

Answer:

The second year’s depreciation for this equipment using the straight line method is 8,500

Explanation:

Depreciation: Depreciation is a decreasing value of the assets due to the tear & wear, obsolescence, usage,etc.

The formula to compute the depreciation under straight lie method is shown below:

= $\dfrac{(original\ cost - salvage\ value)}{useful\ life}$

= $= \dfrac{(\$100,000 - \$15,000)}{10}$

= $8,500

The depreciation amount under straight line method should remain same over the estimated useful life

So, the second year’s depreciation for this equipment is $8,500

6 0

3 years ago

Henry conducted a survey on an ad done by his company. In the survey, he asked people to evaluate the ad and state whether they

defon

Answer:

C. rating scale test.

Explanation:

In a rating scale test, respondents are asked by researchers to rate either their products, services, or work on a scale, say one to ten. This type of test is used by researchers when they want respondents to place value on the features,products,service as contained in the questionnaire.

This type of test is also used to assess performance of employees, products,services etc inorder to achieve a particular goal.

Rating scale is also used to get more information about comparisons between two values hence an important survey method.

3 0

3 years ago

Crawford Fishing had a net income of $35,640 in 2017. They decided to pay $3,000 in dividends and keep the rest to help expand t

CaHeK987 [17]

Answer:

The profit that they keep to reinvest in the business is recorded as D : retained earnings.

Explanation:

Retained earnings (RE) is the amount of net income left over for the business after it has paid out dividends to its shareholders.

4 0

3 years ago

The Better Building Company has a contract to build a building for $100 million. The estimate of the cost of the project is $75

Leni [432]

Answer:

$10 million

Explanation:

Calculation for the reported profit for the first year of the contract

Using this formula

Reported profit=(BB Costs/Project cost estimate)×(Building contract-Project cost estimate)

Let plug in the formula

Reported profit = ($30 million / $75 million)×($100 million – $75 million)

Reported profit=0.4 million ×25 million

Reported profit= $10 million

Therefore the reported profit for the first year of the contract will be $10 million

5 0

4 years ago