D
you can use common sense for this
Demand for potatoes remain the same and supply of potatoes decrease. The number of potatoes sold will decrease and producers naturally increase price of potatoes (to try to earn more)
Answer:
FV = PV (1 + r) ^ n and $815.61
Explanation:
The amount of cash which will have accrued by a given date resulting from earlier single sum or period investments is known as the Future Value (FV) and represented by the following function :
FV = PV (1 + r) ^ n
where,
PV = Principle amount
r = interest rate
n = number of periods for which investment is to receive interest
Using the Function we can determine the amount Michael have in his account after 6 years :
FV = PV (1 + r) ^ n
= $600 x (1.0525) ^6
= $815.61
Answer:
$750
Explanation:
Since Iba's estimate of returned products is 20 units for both year 1 and 2, and only 10 units have been returned by the end of year 1, they must record a refund liability = 10 units x selling price = 10 units x $75 per unit = $750
Refund liability should represent the total amount that Iba considers that its clients are entitled to receive.
Answer:
The spending variance for Utilities is $ 2,900(F)
Explanation:
In order to calculate the spending variance for Utilities we woud have to calculate first the Total Budgeted Cost as follows:
Budgeted variable cost for 30000 hours = $ 82,000-13,000 = $ 69,000
Budgeted variable cost for 33000 hours = $ 69,000x(33000/30000)
= $ 75,900
Therefore, Total Budgeted Cost = $ 75,900+13,000= $ 88,900
Spending Variance = Budgeted Cost-Actual Cost
Spending Variance =$ 88,900- $86,000
Spending Variance =$ 2,900(F)
The spending variance for Utilities is $ 2,900(F)
Answer:
Period costs= $48,960
Explanation:
Giving the following information:
Units sold 1,110
Variable selling and administrative expense $ 7
Fixed manufacturing overhead $18,990
Fixed selling and administrative expense $22,200
<u>Under the variable costing method, the period costs include the fixed manufacturing overhead, selling, and administrative costs both fixed and variable.</u>
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Period costs= (7*1,110) + 18,990 + 22,200
Period costs= $48,960