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Natalka [10]
3 years ago
13

Gordin Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-d

ay. During May, the kennel budgeted for 3,000 tenant-days, but its actual level of activity was 3,020 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for May:
Data used in budgeting:

Fixed element per month Variable element per tenant-day
Revenue - $ 27.60
Wages and salaries $ 2,000 $ 5.20
Food and supplies 800 10.20
Facility expenses 8,500 3.70
Administrative expenses 6,000 0.10
Total expenses $ 17,300 $ 19.20
Actual results for May:

Revenue $ 86,322
Wages and salaries $ 17,984
Food and supplies $ 32,444
Facility expenses $ 19,554
Administrative expenses $ 6,162
The activity variance for administrative expenses in May would be closest to:

Multiple Choice

$2 F

$2 U

$138 U

$138 F

2. Schoening Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for January.

Fixed Element per Month Variable Element per Container Refurbished Actual Total for January
Revenue $ 4,100 $ 158,600
Employee salaries and wages $ 50,600 $ 1,100 $ 92,700
Refurbishing materials $ 700 $ 27,000
Other expenses $ 41,200 $ 40,800
When the company prepared its planning budget at the beginning of January, it assumed that 40 containers would have been refurbished. However, 38 containers were actually refurbished during January.

The revenue variance in the Revenue and Spending Variances column of a report comparing actual results to the flexible budget for January would have been closest to:

Multiple Choice

$5,400 U

$2,800 U

$5,400 F

$2,800 F

3. Piechocki Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 5,900 units, but its actual level of activity was 5,940 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May:

Data used in budgeting:

Fixed element per month Variable element per unit
Revenue - $ 32.60
Direct labor $ 0 $ 3.90
Direct materials 0 12.10
Manufacturing overhead 33,400 1.80
Selling and administrative expenses 28,300 0.40
Total expenses $ 61,700 $ 18.20
Actual results for May:

Revenue $ 200,564
Direct labor $ 22,786
Direct materials $ 73,824
Manufacturing overhead $ 43,922
Selling and administrative expenses $ 31,896
The revenue variance for May would be closest to:

Multiple Choice

$6,920 F

$6,920 U

$8,224 U

$8,224 F

4. Standahl Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $39,590 per month plus $2,649 per flight plus $4 per passenger. The company expected its activity in August to be 82 flights and 294 passengers, but the actual activity was 85 flights and 297 passengers. The actual cost for plane operating costs in August was $255,690.

The spending variance for plane operating costs in August would be closest to:

Multiple Choice

$2,294 U

$10,253 U

$2,294 F

$10,253 F
Business
1 answer:
gizmo_the_mogwai [7]3 years ago
8 0

Answer:

1. b) $2 U

2. d) $2800 F

3. a) $6920 F

4. d) $10253 F

Explanation:

1) The activity variance for administrative expenses in May would be closest to: (3000-3020)*.10 = 2 U

Therefore, answer is b) $2 U

2) Revenue variance = (38*4100)-158600 = 2800 F

Hence, answer is d) $2800 F

3) Revenue variance = (5940*32.60)-200564 = 6920 F

So answer is a) $6920 F

4) Spending variance for plane operating costs = (39590+2649*85+4*297)-255690 = 10253 F

So answer is d) $10253 F

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What new laws to the New York factory investigating commissions request check all that apply

1. no factory workers under age 10
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2 years ago
A trial balance can best be explained as a list of: Multiple Choice The balance sheet accounts used to show the equality of the
zalisa [80]

Answer:

All accounts and their balances at a particular date

Explanation:

The trial balance is the total of the all accounts belong to the income statement, retained earnings, balance sheet. Also their debit and credit balance are totalled and equalled to each other

So as per the given options, all other options except the above one are wrong as it represent to the particular statement i.e. totally incorrect

Therefore the above represent the answer

3 0
2 years ago
If a bank that desires to hold no excess reserves and has just enough reserves to meet the required reserve ratio of 10 percent
Misha Larkins [42]

Answer:

 c. $360 increase in excess reserves and a $40 increase in required reserves

Explanation:

Required reserves is the amount of reserves that is required by the Central bank that banks should keep.

Required reserve = reserve ratio × deposit

= 0.1 × $400 = $40

Excess reserve is the amount of reserves kept in excess of the required reserves.

Excess reserve = Deposit - Required reserve = $400 - $40 = $360

I hope my answer helps you

4 0
3 years ago
An employee earns $24 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. If the employee worked 50 h
Anettt [7]

Answer:

a. Gross pay = $1,320

b. Net pay = $917

Explanation:

a. Determine the gross pay for the week. $ If applicable, round your final answer to two decimal places.

Pay for 40 hours = 40 * $24 = $960

Pay for excess of 50 hours = (50 - 40) * $24 * 1.5 = $360

Gross pay = $960 + $360 = $1,320

b. Determine the net pay for the week.

Net pay = $1,320 - ($1,320 * 6.0%) - ($1,320 * 1.5%) - $304 = $917.

3 0
3 years ago
When the price level falls: Multiple Choice the demand for money rises. there is a decrease in spending that is sensitive to int
const2013 [10]

Answer:

holders of financial assets with fixed money values increase their spending.

Explanation:

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3 years ago
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