Internal company records. That's the answer if you need me to explain it just tell me, hope it was helpful. Peace✌️
Answer:
A. Increase liabilities (Accounts payable) by $337.8 million
Explanation:
The journal entry will be: Inventory (Credit - Increased) 337,860,000 and Accounts payable (Debit - Increased) 337,860,000.
The company must recognize the increase in the Inventory and the medium of payment (Accounts payable).
B is false because this operationn can also be a decrease in cash, but the amount in the operation is too high for this payment medium.
C is false because, the inventory is not sold, and COSG will be increased when the goods are sold.
D is also false because the inventory is increasing, not decreasing.
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Answer:
$750 favorable ; $200 unfavorable
Explanation:
The computations are shown below:
For fixed overhead budget variance:
= Budgeted fixed overhead - actual fixed overhead
= $47,420 - $46,670
= $750 favorable
For fixed overhead volume variance:
= Budgeted fixed overhead - standard fixed overhead cost allocated to production
= $47,420 - $47,220
= $200 unfavorable
Hence we consider all the given information
