Ask question

Ask question

All categories

3 years ago

15

Brief Exercise 10-2 Your answer is partially correct. Try again. For the quarter ended March 31, 2020, Croix Company accumulates

the following sales data for its newest guitar, The Edge: $313,200 budget; $304,000 actual. In the second quarter, budgeted sales were $383,200, and actual sales were $399,500. Prepare a static budget report for the second quarter and for the year to date.

1 answer:

sveta [45]3 years ago

7 0

Answer and Explanation:

The preparation of static budget is shown below:-

Static budget for the second quarter

Croix Company

Sales budget report

for the quarter ending March 31, 2020

Product line Budget Actual Difference

Newest guitar $383,200 $399,500 $16,300 Favorable

Static budget for the year to date

Croix Company

Sales budget report

for the quarter ending March 31, 2020

Product line Budget Actual Difference

Newest guitar $696,400 $703,500 $7,100 Unfavorable

Working note

Total budget sales = Sales of first quarter + Sales of second quarter

= $313,200 + $383,200

= $696,400

Total actual sales = Sales of first quarter + Sales of second quarter

= $304,000 + $399,500

= $703,500

You might be interested in

You own shares of Somner Resources' preferred stock, which currently sells for per share and pays annual dividends of $ per s

dimulka [17.4K]

Answer:

You should buy more shares

Explanation:

The above-mentioned question is missing few components. I have added them to explain on how the question would be solved if all the variables were provided. Please note the additions in bold text below. The answer of which is given afterwards.

You own 300 shares of Somner Resources' preferred stock, which currently sells for $39 per share and pays annual dividends of $5.50 per share. If the market's required yield on similar shares 12% is percent, should you sell your shares or buy more?

Solution as mentioned below:

First of all we need to calculate value of the preferred stock by dividing the annual dividend per share from the market required rate.

Value of preferred stock = 5.50 / 12%

Value of preferred stock = $45.83

Now given the fact that the current price at which the stocks are sold is $39 which is less than the price at which they are actually valued which is $45.83. You should buy more of the shares as they are currently undervalued.

8 0

3 years ago

Everyone likes to have Lydia working on their committees because she seems to have the unique ability to consider a variety of o

salantis [7]

Answer:

c. convergent thinking

Explanation:

Convergent thinking is the ability to think quickly about one or two good solutions to a problem, without needing to spend your time and thinking about it. This is especially important when it comes to decision-making processes. This is very different from a different idea, where you come up with a lot of possibilities

7 0

3 years ago

The new growth theory states that A. technological advances are the responsibility of the government. B. the subsistence level i

EleoNora [17]

Answer:

C. technological advances are the result of discoveries and choices.

Explanation:

The new growth theory was developed by a man named med Paul Romer. This new growth theory stresses the role which is determined by human choices.

The new growth theory states that technological advances are the result of discoveries and choices, rather than random choices. It explains the fact that new innovations and technological advancement are not the result of random chance, but they occur as a result of humans and their desire for new innovations.

Therefore option C is correct

7 0

3 years ago

If the government issued license to pollute a total of 1,600 tons of emissions, the market price to emit 1 ton of emissions woul

kakasveta [241]

Answer:

$450 per ton.

Explanation:

The government has allowed to pollute 1600 ton of emission. The business has secured license from the government to run its business activities and drain the polluted waste in the sea. The total pollution allowed is 1600 tons and the cost of securing the license is $720,000. The cost per ton of emission would be $450.

5 0

3 years ago

With a _______ lifestyle, people select products and services that fulfill their diverse needs and interests, rather than confor

Sladkaya [172]

Answer: component

Explanation:

5 0

2 years ago