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3 years ago

The following data are the actual results for Marvelous Marshmallow Company for August:

Business

1 answer:

Eddi Din [679]3 years ago

3 0

Answer:

a. $26,200 Unfavorable

b. $16,800 Unfavorable

c. $ 5,000 Unfavorable

d. $48,000 Unfavorable

Explanation:

a Variable-overhead spending variance

Variable-overhead spending variance = Budgeted Variable overheads at actual hours worked - Actual variable overheads

= (33,400 × $ 12.00) - $ 427,000

= $400,800 - $ 427,000

= $26,200 Unfavorable

b. Variable-overhead efficiency variance

Variable-overhead efficiency variance = (Actual Output × Standard hour × Standard rate) - (Actual hours × Standard rate per hour)

= (8,000 × 4 × $ 12.00) - (33,400 × $ 12.00)

= $384,000 - $400,800

= $16,800 Unfavorable

c. Fixed-overhead budget variance

Fixed-overhead budget variance = Actual Fixed Overheads - Budgeted Fixed Overheads

= $ 149,000 - $ 144,000

= $ 5,000 Unfavorable

d. Fixed-overhead volume variance

Fixed-overhead volume variance = Fixed overheads at Budgeted Production - Budgeted Fixed Overheads

= ($ 144,000 / 12,000 × 8,000) - $ 144,000

= $96,000 - $144,000

= $48,000 Unfavorable

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For the year ended December 31, 2015, Lopez Company has implemented an employee bonus program equal to 3% of Lopez’s net income,

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Answer:

Explanation:

1. Before passing the journal entries, we have to determine the amount of bonus payable that is shown below:

Let us assume that the bonds payable at the year end be X

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3 years ago

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3 years ago

Floyd and Merriam start a partnership business on June 12, 2019. Their capital account balances as of December 31, 2020 stood

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Answer:

Floyd 43,500

Merriam 12,500

Ramelow 23,000

Explanation:

heir capital account balances as of December 31, 2020 stood as follows: Floyd $ 46,000

Merriam $ 25,000

Ramelow 1/3 interest.

23,000 is the third of the parthnership

23,000 x 3 = 69,000

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distributed equally among the members:

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Merriam 25,000 - 25,000 / 2 = 12,500

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4 years ago