Answer:
Budgeted direct labor costs is $155,000 divided by budgeted hours of production of 9,000 would give standard direct labor costs of $17.22 per hour of production. Budgted direct material costs is $165,000 divided by budgeted hours of production of 9,000 would give standard direct material costs of $18.33 per hour of production. The standard cost of direct labor and direct material is used to calculate flexible budget.
Total costs consists of direct material costs plus direct labor costs plus fixed overhead costs. Direct material costs under flexible budgeting is calculated as actual hours of production of 10,000 multiplied by standard costs of $18.33 which would give budgeted costs of $183,333. Direct labor costs under flexible budgeting is calculated as actual hours of production of 10,000 multiplied by standard costs of $17.222 which would give budgeted costs of $172,222. Fixed overhead costs would remain same under flexible budgeting as fixed overhead does not change with change in volume of activity. Direct material costs of $183,333 plus direct labor costs of $172,222 plus fixed overhead costs of $15,000 would give total costs of $370,556 under flexible budgeting.
Answer:
$13,000
Explanation:
Given that:
Jeremy operates a business as a sole proprietorship which uses a cash method of accounting. Now he is planning transfer them into a new corporation in exchange for its stock.
The assets are :
$10,000 of accounts receivable with a zero basis
have a basis of $20,000 and an FMV of $40,000
Liabilities
payable of $12,000
The note payable on medical equipment is $7,000.
Therefore , Jeremy's basis for his stock is : $20,000 -$7,000 = $13,000
since that will reduce the basis by amount of the note payable.
The liabilities payable will be deducted and taken care of by the corporation.
Answer:
<u>Comparative </u>
Explanation:
Progresso Soup ran ads sating that 7 out of of 10 consumers preferred the taste of Progresso chicken noodle soup over that of Campbell's Select Home Harvest soup . This is most likely an example of <u><em>Comparative</em></u> advertising.
Comparative advertising means when an advertising show a product superior then other product or we can say , the ad is making comparison between both the product and showing its product more useful .
In united state , Comparative advertising is legal , it is permitted by the government of the United State to use the comparative advertisement .
Comparative advertisement is good technique as by it the brand name is stored in the mind of the customers , it also helps in reducing confusion in the mind of customer , it improves the product thinking in the mind of the customer.
Answer: A. Distinct
Explanation: Distinct goods or services are those that generates economic benefit (that can be of use) to the customer on its own or together with other readily available resources (Goods or services that are sold separately or a resource that the customer already possess).
One of the measures of determining if a good or service is distinct is to determine if it can be sold on a standalone basis and if it can be separately identifiable from other promises in a contract.
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. Hope this helps:)