Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Sales price $ 8.90 per unit Variable manufacturing cost $ 3.60 per unit Fixed manufacturing cost $ 2,500 total Fixed selling and administrative cost $ 1,000 total Finch planned to produce and sell 3,000 units. Actual production and sales amounted to 3,200 units.
1) Contribution format income statement:
Sales= 8,900
Variable costs= 3,600
Contribution margin= 5,300
Fixed MOH= 2,500
Fixed selling and administrative= 1,000
Net operating income= 1,800
2) Flexible budget
Sales= 26,700
Variable costs= 10,800
Contribution margin= 15,900
Fixed costs= 3,500
Net operating income= 12,400
Answer:
A. Dr Cost of goods sold $21
Cr LIFO reserve $21
B.$3,729
Explanation:
A. Preparation of the December 31, 2021, adjusting entry to record the cost of goods sold adjustment.
Based on the information given in a situation were Drew adjusts the LIFO reserve at the end of its fiscal year which means that the December 31, 2021, adjusting journal entry to record the cost of goods sold adjustment will be:
Dr Cost of goods sold $21
($86 – 65)
Cr LIFO reserve $21
b. Calculation for what would cost of goods sold have been for the 2021 fiscal year
Cost of goods sold=$3,750 – $21
Cost of goods sold= $3,729
Therefore what the cost of goods sold could have been for the 2013 fiscal year is $3,729
Answer:
The correct answer is letter "D": equalize hierarchical or status differences among members of a group.
Explanation:
The Nominal Group Technique (NGT) is a method of brainstorming ideas in a group that starts by having the members writing down their perceptions on certain matters to later expose them to the rest of the group. Collectively, all the group members decide which idea is the best to solve the issue they have in common.
Under those circumstances,<em> the NGT treats each of the opinions of the individuals involved equally regardless of the hierarchy they may occupy in the group.</em>
Answer:
See below
Explanation:
A. Predetermined overhead
First, we all calculate total overhead cost at the denominator level
Total overhead cost = total fixed overhead + total variable overhead
= $250,000 + (40,000 × $2)
= $250,000 + $80,000
= $330,000
Predetermined overhead rate = Total overhead cost at the denominator level / Budgeted standard direct labor hour
= $330,000 / 40,000
= $8.25
B. Overhead applied
= Standard direct labor hour allowed for actual output × Predetermined overhead rate
= 38,000 × $8.25
= $313,500
