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yKpoI14uk [10]
2 years ago
7

Petrus Framing's cost formula for its supplies cost is $1,860 per month plus $11 per frame. For the month of March, the company

planned for activity of 626 frames, but the actual level of activity was 635 frames. The actual supplies cost for the month was $9,200. The activity variance for supplies cost in March would be closest to:
Business
1 answer:
MissTica2 years ago
4 0

Answer:

$355 unfavorable

Explanation:

Budgeted supplies cost was [$1,860 + (635 frames x $ 11)] = ($1,860 + $6,985) = $8,845

Actual supplies cost was $9,200, so the variance was = budgeted cost - actual cost = $8,845 - $9,200 = $355 unfavorable

Since the actual supplies cost was higher than the budgeted supplies cost, then the variance must be unfavorable (because more money was spent than expected).

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DogMart Company records depreciation for equipment. Depreciation for the period ending December 31 is $2,840 for office equipmen
Scorpion4ik [409]

Answer:

The journal entries are shown below:

Explanation:

According to the scenario, the journal entry for the given data are as follows:

For Office equipment

Dec.31  Depreciation for office equipment A/c Dr $2,840

            To Accumulated depreciation for office equipment A/c $2,840

(Being the depreciation expense for office equipment is recorded))

For Production equipment

Dec.31  Depreciation for production equipment A/c Dr $6,910

            To Accumulated depreciation for production equipment A/c $6,910

(Being the depreciation expense for production equipment is recorded))

4 0
3 years ago
Recently, the owner of a trader joe's franchise decided to change how she compensated her top manager. last year, she paid him a
Wewaii [24]

Net earning for owner after payment to top manager, last year = $(130,000 - 65,000) = $65,000

This year, out of the forecast profit of $270,000, Owner has to pay to the top manager = $35,000 + 16% x $270,000

= $(35,000 + 43,200) = $78,200

Net money earned by owner this year = $(270,000 - 78,200) = $191,800

Change in net owner's earning = $(191,800 - 65,000) = $126,800

8 0
3 years ago
Match each concept in Column A with an example in Column B. Column A Column B a. Substitute goods 1. Price and quantity along th
Anna007 [38]

Answer:

a. Substitute goods - Tea and coffee

b. A nonprice determinant of demand - Consumer income

C. A nonprice determinant of supply -  A change in technology

D. Mark-up pricing - Setting price equal to cost plus 20 percent

E. Positive relationship -  Price and quantity along the supply curve

F. Negative relationship -  Price and quantity along the demand curve

G. Inadequacy - Hunger

H Complementary goods - Shoes and shoelaces

Explanation:

Substitute goods are goods that can be used in place of another good.

if the price of a good increases, the demand for the substitute increases and if the price of the good reduces, the demand for the substitute increases.

Complementary goods are goods that are consumed together

The demand curve is a curve that shows the relationship between price and quantity demanded. The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.

Only a change in the price of a good leads to a movement along the demand curve of that good. Also, only a change in the price of the good would lead to an increase or decrease in the quantity demanded of that good.

Other factors other than the change in the price of the good would lead to a shift of the demand curve. Some of those factors include :

1. a change in consumers' expectation

2. a change in the taste of consumers

3. a change in income

There is a positive relationship between price and the quantity supplied. This accounts for why the supply curve is positively sloped.

A change in price of a good leads to a movement along the supply curve and not a shift of the supply curve.

Other factors other than a change in the price of the good would lead to a shift of the supply curve. Such factors include :  

1. A change in the price of input  

2. A change in the number of suppliers  

3. Government regulations  

4. Technological changes

7 0
3 years ago
Which transactions are typically accounted for by using the relative sales value method to calculate unit purchase cost?
mestny [16]

Answer:

Basket purchases.

Explanation:

Basket purchases is a term used for buying multiple fixed assets. It is bought as the price for basket purchases is lower than the price for individual asset. The transactions in the basket purchases are accounted for by using the relative sales value method to calculate unit purchase cost. It is calculated by dividing each sales value of product by the total sales value of all the product.

4 0
3 years ago
listen here lads i need a sonnet about food or cars or sports or video games mainly rocket league o cod
Scilla [17]

Answer:

what?

Explanation:

7 0
3 years ago
Read 2 more answers
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