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Stella [2.4K]
3 years ago
15

Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area

. The company’s planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 300 Revenue ($470.00q) $ 141,000 Expenses: Wages and salaries ($11,800 + $126.00q) 49,600 Supplies ($5.00q) 1,500 Equipment rental ($2,400 + $24.00q) 9,600 Insurance ($3,800) 3,800 Miscellaneous ($500 + $1.50q) 950 Total expense 65,450 Net operating income $ 75,550 During May, the company’s actual activity was 290 diving-hours.
Required:
During May, the company’s activity was actually 240 diving-hours. Complete the following flexible budget for that level of activity.
Business
1 answer:
Ne4ueva [31]3 years ago
7 0

Explanation:

The preparation of  the following flexible budget for that level of activity is presented below:

                                     Puget Sound Divers

                                         Flexible Budget

                                For the Month Ended May 31

Sales revenue  $112,800              ($470 × 240 diving hours)

Less:

Wages and salaries $42,040        ($11,800 + $126.00 × 240 diving hours)

Supplies $1,200           (240 diving hours × $5)

Equipment rental $8,160            ($2,400 + $24 × 240 diving hours)

Insurance             $3,800

Miscellaneous     $860                 ($500 + $1.50 × 240 diving hours)

Total expenses  $56,060

Net operating income    $56,740

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Answer

A. 48.000

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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8 0
3 years ago
Outside directors are defined as
Westkost [7]

Answer:

B) individuals on the board who are not employed by the board's corporation.

Explanation:

The outside director are those director who are not employee of the company they only receive their fee per meeting. These directors are also known non executive director. Their objective is to protect the interest of shareholders by supervising different fiction of business and ensure that shareholder's interest is safe.

8 0
3 years ago
Consider the following two assets. The first is a stock fund, the second is a long-term government and corporate bond fund. The
yarga [219]

Answer:

0.76

Explanation:

So, in this particular question we are given that that there are two assets which are the; [1]. stock fund and [2]. a long-term government and corporate bond fund.

From the question/problem, we have that the Expected ret and the std. dev. for the Stock fund is 18% and 25% respectively. Also, the Expected ret and std. dev. for  Bond fund 11% and 18% respectively.

Thus, the investment proportion in the minimum variance portfolio of the bond fund = 1 - [ ( 18%)² - 0.4 × 25% × 18%) ÷ ( 25%)² + (18%)² - 2 × 0.4 × 25% × 18%. = 1 - [0.0144 ÷ 0.0609 ] = 1 - 0.24 = 0.76.

6 0
3 years ago
Miller Company makes two types of chairs. One of the chairs is a rocking chair. The other is a straight-back chair. Both chairs
laiz [17]

Answer:

C. straight back chairs will be overcosted

Explanation:

Miller Company makes two types of chairs. One of the chairs is a rocking chair. The other is a straight-back chair. Both chairs are made by hand. Miller Company uses a company-wide overhead rate that is based on direct labor hours to assign overhead costs to the two products. If Miller automates the production of straight-back chairs and continues to use direct labor hours as a company-wide allocation basis:

A. rocking chairs will be undercosted

B. There should be no impact on unit cost  

C. straight back chairs will be overcosted

D. rocking chairs will be overcosted.

EXPLANATION

If Miller automates the production of straight-back chairs and continues to use direct labor hours as a company-wide allocation basis then the straight back chairs will be overcosted<u> because the automation process directly implies that it no longer drives labor hours since it is no longer made by hand.</u>

Automated processes should use machine hours rather than labor hours, for the allocation of its overhead.

8 0
3 years ago
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Six-packs of soda, cartons of eggs, and three-packs of paper towels are all examples of products sold using what kind of pricing
cricket20 [7]

Six-packs of soda, cartons of eggs, and three-packs of paper towels are all examples of products sold using a block pricing strategy.

A product is an object, system, or service provided to consumers on demand. That's all we can offer to the market to meet your wants and needs.

Item is for sale. Products are services or items. It can be in physical or virtual or cyber form. All products are made at one price and sold at one price. Calculated prices vary by market, quality, marketing, and target segment.

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8 0
1 year ago
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