1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
The primary function of most media is to ________.
Tema [17]

Answer:

The correct answer is letter "D": provide information and entertainment to their audience.

Explanation:

Media refers to all the channels of communication by which information can be spread. <em>Television, radio, newspapers, magazines, </em>and<em> social media </em>are the most common examples of communications media. The information portrayed through those channels has several purposes depending on who transmits it. However, the main purpose of media is to show audiences entertainment information in the form of videos, music, movies sports or news.

3 0
3 years ago
Monopolist can produce at a constant average​ (and marginal) cost of
ankoles [38]
A monopolist can produce at a constant average (and marginal<span>) </span>cost of<span> AC = MC = $5</span>
8 0
3 years ago
A local government operates on a calendar-year basis. Prepare journal entries to record the following transactions and events fo
astra-53 [7]

Answer:Please find answers in explanation column

Explanation:

1. Journal to record Short term borrowing

Date                 Account title                             Debit                  Credit

Feb. 1, 2018     Cash                                         $400,000

Tax anticipation notes payable                                                   $400,000

2.Journal to record  accrued interest payable on TAN)

Date                 Account title                             Debit                  Credit

Dec. 31, 2018   Expenditures – interest            $3,666.67  

Accrued interest payable                                                            $3,666.67  

Calculation :Accrued interest=  Principal x rate x period (time)

$400,000 x 1% x 11/12= $3,666.67  

3. Journal to record investment in  CD

Date                 Account title                             Debit                  Credit

April 1, 2018       Investments                            $100,000

                            Cash                                                                    $100,000

4.Journal To record redemption of CD with interest

Date                 Account title                             Debit                  Credit

Sept. 30, 2018          Cash                       $100,400

                               Investments                                                    $100,000

Cash Revenues – interest income                                                      $400

Calculation

Accrued Interest

Principal x rate x period (time= )100, 000 x 0.8 %x 6/12)= $400

Cash = Investment + interest= $100,000 + $400 = $100,400

4 0
3 years ago
The payroll register of Ruggerio Co. indicates $10,500 of social security withheld and $2,625 of Medicare tax withheld on total
Anna [14]

Answer:

From the information provided

Federal rate tax of earnings = 30000 × 0.6%

= 30000 × 0.006

= 180

State rate tax of earnings = 30000 × 5.4%

= 30000 × 0.054

= 1620

Medicare taxes = 2625

Social security taxes = 10500

Total payroll tax expenses = Medicare taxes + social security taxes + state rate tax on earnings + federal rate tax on earnings

= 10500 + 2625 + 180 +1620

= $ 14925

THUS,

JOURNAL ENTRY

___Accounts_______Debit ($)____Credit ($)

Payroll Tax Expense__ 14925

Social Security Payable___________ 10,500

Medicare Payable________________2625

FUTA Payable ___________________180

SUTA Payable ___________________1620

6 0
3 years ago
Read 2 more answers
1. In the case, the court focused on the language of the contract. In the contract, the Desses agreed to fully disclose all info
Reil [10]

Answer:

Yes

Explanation:

The Desses would have had a stronger argument if the contract was silent in this way because it would have been less likely that there was a designated class of third-party beneficiaries under the contract.

Cheers

7 0
3 years ago
Read 2 more answers
Other questions:
  • Yvette Bradbury is an account representative at Commerce Savings Bank, earning $45,600 annually, paid semimonthly. She contribut
    10·1 answer
  • Select the correct statement regarding fixed costs. Multiple Choice
    6·1 answer
  • Kenneth Chenault, the CEO of American Express Co. hopes to issue American Express cards through U.S. banks. At present, banks th
    14·1 answer
  • Which of the following is an example of an intrinsic reward? employee recognition employee stock option gainsharing bonus profit
    12·1 answer
  • Securitization, the process of forming new securities by bundling or slicing up groups of securities like mortgages and bonds, i
    13·1 answer
  • Carol wants to invest money in a 6% CD account that compounds semiannually. Carol would like the account to have a balance of $5
    15·1 answer
  • Your company has two​ divisions: One division sells software and the other division sells computers through a direct sales​ chan
    6·1 answer
  • A company would like to invest in a capital budget project that will be worth $500,000 in 40 years. How much should this company
    5·1 answer
  • Help quick!
    8·2 answers
  • Steve is staying at a hotel while on business in Chicago, but he forgot to bring his ties. Who would he most likely turn to for
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!