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PIT_PIT [208]
3 years ago
11

Timothy, LLC, originally budgeted $10,000 of costs to produce 100 toy cars. $5,000 of these costs consisted of direct labor, $1,

000 consisted of raw materials, and $3,000 consisted of fixed licensing and rental costs. Timothy, LLC also budgeted $30,000 of revenue from the sale of these cars. Timothy, LLC actually produced and sold 160 toy cars (no beginning or ending FG or WIP inventory). What is the flexible budget amount of raw materials?
Business
1 answer:
dolphi86 [110]3 years ago
3 0

Answer:

$1,600

Explanation:

Budgeted raw material cost per toy car:

= Total budgeted raw material cost ÷ Budgeted production(in units)

= $1,000 ÷ 100 toy cars

= $10 per toy car

Flexible budget of raw material:

= Actual number of toy cars sold × Budgeted raw material cost per toy car

= 160 × $10 per toy car

= $1,600

Therefore, the flexible budget amount of raw materials is $1,600.

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The following is the Bravo Unlimited adjusted Trial Balance.
ivanzaharov [21]

Explanation:

The preparation of the Assets section is shown below:-

                                         Alpha Dog Company

                                         Adjusted Trial Balance

                                           December 31, 2016

Particulars                                               Assets

Cash                                                        $88,450

Accounts Receivable                             $150,000

Supplies                                                  $29,255

Total current assets                               $179,255

Fixed Assets

Equipment                            $295,285

Accumulated Depreciation -$238,760  $56,525

Stock Investment                                     $172,000

Total Fixed assets                                    $228,525

Total Assets                                              $407,780

Total Assets = Total current assets + Total fixed assets

7 0
3 years ago
Power Company issued a $ 1,000,000​, 5 %​, 10​-year bond payable at at face value on January​ 1, 2016. Requirements
Anettt [7]

Answer and Explanation:

The journal entries are shown below:

1. Cash Dr $1,000,000

         To Bond payable $1,000,000

(Being the issuance of the bond is recorded)

For recording this we debited the cash as it increased the assets and credited the bond payable as it also increased the liabilities

2. Interest Expense Dr ($1,000,000 × 5% × 1 ÷ 2) $25,000

             To Cash $25,000

(Being the interest expense is recorded)

For recording this we debited the interest expense as it increased the expense and credited the cash as it decreased the asset

4 0
3 years ago
a. Simulation can be used to analyze large and complex real-world situations that cannot be solved by using conventional quantit
Ivan

Answer:

D). All of the above statements are correct.

Explanation:

Simulation can be described as the process designed to offer a realistic experience in order to know the actual mechanism of a specific behavior or outcome.

As per the question, 'all the given statements' are asserting true claims with respect to simulation. Simulation is characterized as <u>an effective process for evaluating large and complicated actual-world circumstances as it is a realistic environment to know the truth and actual causes behind those situations</u>. Such situations cannot be assessed truly using the traditional quantitative models of analysis. It is able to provide answers to the questions like 'what-if' as it observes the realistic nature and promotes effective decision-making. It is also <u>employed to investigate the collective effect of specific variables or components to categorize them as important or not-important as it closely observes every aspect</u>. Thus, <u>option D</u> is the correct answer.

3 0
3 years ago
The Walthers Company has a semi-annual coupon bond outstanding. An increase in the market rate of interest will have which one o
professor190 [17]

Answer:

The answer is D.

Explanation:

An increase in the market rate of interest of a bond will decrease the market price of the bond. Market rate of interest of a bond is inversely related to the market price of the bond.

For example, A bonds is issued with a higher interest rate, the price of existing bonds will fall because the demand for this bond falls.

6 0
3 years ago
George believes that women have difficulty coping with the stress of executive decisions. Sally is promoted into a senior manage
Mariulka [41]

Answer:

2. Stereotyping

Explanation:

Stereotyping is a prejudiced view of a person based on a mistaken belief or idea of many people.

George had a belief that women have difficulty coping in stressful situations and making executive decisions. When Sally is promoted to a senior management position his stereotype of women comes to play as George starts to complain that Sally would not be able to cope with the job.

6 0
3 years ago
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