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Stels [109]
2 years ago
15

Monty Manufacturing builds playground equipment that it sells to elementary schools and municipalities.​ Monty's management has

contracted you to perform a variance analysis on the fixed manufacturing overhead for its line of slides.​ Monty's cost accounting team informs you that it allocates fixed overhead based on machine hours. This period production was budgeted at
35

slides. Budgeted and actual production data​ follows:

Standard fixed overhead cost per machine hour

$5.00

Standard machine hours per slide

9

Actual production

390

Actual fixed overhead cost

$20,000

What is the fixed manufacturing overhead volume variance in this​ period?

A.

$18,425

unfavorable

B.

$15,975

unfavorable

C.

$15,975

favorable

D.

$18,425

favorable
Business
1 answer:
telo118 [61]2 years ago
5 0

Question

Monty Manufacturing builds playground equipment that it sells to elementary schools and municipalities.​ Monty's management has contracted you to perform a variance analysis on the fixed manufacturing overhead for its line of slides.​ Monty's cost accounting team informs you that it allocates fixed overhead based on machine hours. This period production was budgeted at  35 0 slides

. Budgeted and actual production data​ follows:

Standard fixed overhead cost per machine hour  $5.00

Standard machine hours per slide  9

Actual production  390

Actual fixed overhead cost  $20,000

What is the fixed manufacturing overhead volume variance in this​ period?

Answer:

Fixed overhead volume variance  $1800 Favorable

Explanation:

Standard fixed cost per unit = cost per hour × standard hours

                                             =  $5.00  ×9  = $45

                                                                                     Units

Budgeted  production unit                                      350

Actual       production unit                                        <u>390</u>

Volume variance in (units)                                       40

Standard fixed over cost per unit                           <u>× $45</u>

Fixed overhead volume variance                          <u>  1800 </u>Favorable

Fixed overhead volume variance  $1800 Favorable

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Answer:

d. debit to an expense account and a credit to an asset account.

Explanation:

When a prepayment is made, the entries recorded are Debit prepaid expense and credit Cash account to recognize the amount prepaid.

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4 0
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Cash paid to retire notes $ 112​ Common shares acquired for treasury 172​ Proceeds from issuance of preferred stock 254​ Proceed
arsen [322]

Answer:

$176 million

Explanation:

The calculation of net cash inflows from financing activities is shown below:-

Net cash inflows from financing activities

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The positive sign represents the cash inflow and the negative sign represents the cash outflow

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3 years ago
Keeping your ___ and ___in mind will dictate what you say and how you say it.
shusha [124]

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Audience and purpose.

Hopefully this helps! :)

8 0
2 years ago
Reviewing the Budget
vekshin1

Answer:

For each month we calculate the variance by finding the difference between the Actual numbers and Budget numbers.

Then we indicate if the practice was "Overbudget" or "Underbudget".

If the actual numbers are less than the budget numbers, the budget is we say that the budget is under budget.

If the actual numbers are more than the budget numbers, the budget is we say that the budget is over budget.

Month    Budget   Actual               Variance        Under/ over  

<u>                                                              (Actual -Budget)   Budget </u>

January  23,55,872   17,90,929      -5,64,943      Under Budget

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4 0
3 years ago
Read 2 more answers
What is the expected rate of return on a bond that pays a coupon rate of 9% paid semi - annually, has a par value of $1,000, mat
spayn [35]

Answer:

b. 7.28%

Explanation:

This question is asking for the yield to maturity(YTM) of the bond. You can solve this using a financial calculator with the inputs below. Additionally, adjust the coupon payment(PMT) and time to maturity(N) to semiannual basis.

Time to maturity; N = 5*2 = 10

Face value; FV = 1000

Price of bond; PV = -1071

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then compute semiannual interest rate; CPT I/Y = 3.64%

Next, convert the semiannual rate to annual rate(YTM) = 3.64% *2

YTM = 7.28%

8 0
3 years ago
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