Answer:
Variable overhead efficiency variance = $798.36 unfavorable
Explanation:
<em>Variable overhead efficiency variance is the difference between the actual time taken to achieve a given production output less the standard hours for same multiplied by the standard variable overhead rate</em>
Since the variable overhead is charged using machine hours, any amount by which the actual labour hours differ from the standard allowable hours would result in a variance
<em>Overhead absorption rate =Estimated overhead/estimated machine hours</em>
105,300/5,500 machine hours = $19.14 per machine hour
$
5,580 hours should have cost (5,580× 19.14) 106,831.6
but did cost (actual cost ) <u> 107,630 </u>
Variable overhead efficiency variance. <u>798.36 </u>unfavorable
<em>Variable overhead efficiency variance = $798.36 unfavorable</em>
Employees should complete their workplace climate surveys and an ethical entrepreneur should take the responsibility for that. Yes, the given statement is true.
<h3>What do you mean by organizational ethical climate?</h3>
The ethical atmosphere of the work environment and the level of ethics practiced within a company can be defined as an ethical climate. The five types of climates that can exist in an organization are Instrumental, caring, law and order, rules, and independence.
Hence, it is true that employees should complete their workplace climate surveys and an ethical entrepreneur should take the responsibility for that. Yes, the given statement is true.
Learn more about ethical climate here:
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Answer:
Pro forma financial statements
Explanation:
The term pro forma financial statements refers to a type of financial statement which estimates future financial results. It doesn't follow the GAAP, instead it is designed to focus on specific figures about a company's expected earnings. Although pro forma financials are only expected financial statements, it is still illegal to mislead investors using them.
By preparing a pro forma financial statement, Tomas will be able to estimate if his new business will be profitable or not, approximately how much financing he will need and estimate the future cash flows of his project.
Answer:
Direct material used= $420
Explanation:
Giving the following information:
Sales revenue= $4,000
Purchases of direct materials= $400
Direct labor= $450
Manufacturing overhead= $620
Operating expenses= $650
Beginning raw materials inventory= $200
Ending raw materials inventory= $180
Beginning work in process inventory= $320
Ending work in process inventory= $410
Beginning finished goods inventory= $250
Ending finished goods inventory= $200
Direct material used= ?
Direct material used= beginning inventory raw material + purchase - ending inventory raw material
Direct material used= 200 + 400 - 180= $420
payments that must be received by resource owners to insure the resources' continued supply