Answer:
Total Gross Margin under absorption costing is $815550
Explanation:
Absorption Costing treats Fixed Manufacturing Costs as a part of product cost.
Sales ($75×52000) 3900000
Less Cost Cost of Sales
Opening Stock of Finished goods 0
Add Production Cost of Finished Goods
Direct Materials ($25× 57000) 1425000
Direct Labor ($18× 57000) 1026000
Variable Manufacturing Overheads ($5× 57000) 285000
Fixed Manufacturing overheads ($11.32×57000) 645000
3381000
Less Closing Stock of Finished goods
(25+18+5+11.31) × (57000-52000) ( 296550)
Cost of Goods Sold 3084450
Gross Profit 815550
The type of psychological test Dan would most likely be taking based on the description given would be an inventory. A self-report inventory basically asks questions about the respondents' interests or personality types in which it is mostly administered in just a total of 15 minutes.
Answer:
Philanthropy
Explanation:
Philanthropy is when a person or a group of people take it as their own responsibility to advance welfare of others particularly by giving money them as a generous donation in order to eliminate social problem. The purpose of philanthropy is to contribute to improvement in the welfare of humankind through the prevention of and provision of solution to social problems.
Philanthropy and charity overlap but they are different. The aim of charity is to eradicate the suffering caused by social problems, while philanthropy aims to eradicate the social problems that is causing the suffering. For instance, it is charity when food is offered to a person who is being affected by a famine. The food will only provide short term solution as they will again suffer from hunger later in the future. However, philanthropy is when people are trained on how to grow food as this will eradicate the social problem which is the source of hunger.
Therefore, rendering assistance by Evan and Sia Steele to children who have been abused is a philanthropic gesture.
Answer:
$30 Favorable
Explanation:
Calculation for the activity variance for supplies cost in March
Using this formula
Activity variance = (Actual units - Budgeted units) * Variable cost
Where,
Actual units=856
Budgeted units=861
Variable cost=$6
Let plug in the formula
Activity variance=(856-861) * $6
Activity variance=5*$6
Activity variance=$30 Favorable
Therefore the activity variance for supplies cost in March would be closest to: $30 Favorable
Answer:
Interest expense $ 11.15
Explanation:
As the bank uses the average daily balance excluding new purchases we should use that amount to solve for the interest expense.
The rate is one and a half percent therefore, 1.5% --> 0.015
principal x rate = interest
$743 x 0.015 = $ 11.145
