Answer: The total manufacturing cost variance is made up of direct material cost variance, direct labor cost variance and factory overhead cost variance. (Option C).
Explanation:
Some of the goals of manufacturing companies are to increase company’s revenue and profit. To achieve this, a company needs to know how to manage its costs and these may cause variances in manufacturing.
The total manufacturing cost variance is made up of direct material cost variance, direct labor cost variance and factory overhead cost variance. These costs are the differences between the actual cost incurred and the set cost. These variances help managers to know if the company is meeting up to the required standard.
Answer:
c. $210,000.
Explanation:
amount of expense to be reflected in Post's quarterly income statement
= 840,000 / 4
= $210,000
Therefore, The amount of expense that should be reflected in Post's quarterly income statement for the three months ended March 31 is $210,00.
Answer:
1. $1,540,000
2. $998,200
3. $924,000
Explanation:
1. The computation of the budgeted sales for July is shown below:-
Budgeted sales for July = Number of units × Sale price
= 22,000 × $70
= $1,540,000
2. The computation of expected cash collections for July is shown below:-
Expected cash collection for July = June accounts receivables + July cash sales
= (9,100 × $70 × 60%) + (22,000 × $70 × 40%)
= $998,200
3. The computation of the accounts receivable balance at the end of July is shown below:-
Accounts receivable for July = Number of units × Sale price × Budgeted selling price per unit
= 22,000 × $70 × 60%
= $924,000
If Randolph co. has sales of $3,000,000, net income of $200,000, and total asset turnover of 1. 5x
<u>Return on Assets</u>:
ROA = Profit margin x Asset turnover
ROA=($200,000/$3,000,000) x 1.5 = 0.099
Return on assets compares the asset worth of a company with the profits it makes over a predetermined time period. Managers and financial analysts use return on assets as a measure to assess how well a company is utilizing its resources to generate profits.
An effective indicator for assessing a single company's performance is return on assets. When a company's ROA increases over time, it shows that it is extracting more profit from every dollar of assets it owns. Typically, a ROA of 5% or above is seen as good; a ROA of 20% or higher is regarded as great.
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Answer:
the gain would be reported i.e. $10,778
Explanation:
The computation is shown below:
The Value of 100000 bonds is
= $530,000 ÷ $500,000 × 100,000
= $106,000
Now
Premium amortization in 4 month is
= $7,000 ÷ 36 months × 4 months
= $778
Now
Carrying value on may 1, 2018 is
= $106,000 - $778
= $105,222
Now
Retirement value is
= 100,000 × 1.16
= 116,000
So,
Gain on retirement is
= 116,000 - 105,222
= $10,778
Hence, the gain would be reported i.e. $10,778
