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Xelga [282]
4 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.
Business
1 answer:
sveta [45]4 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

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Answer:

 B. No; The IRR is less than the required return by about 1.53 percent

Explanation:

The internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

The IRR can be calculated using a financial calculator:

Cash flow in year zero = -$42,000

Cash flow in year one = 15,300

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A project should be chosen if the IRR is greater than the required return

The IRR is less than the required return so the project should be rejected.

To find the IRR using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.

I hope my answer helps you

6 0
4 years ago
Norma Smith is the controller of Bramble Corporation and is responsible for the preparation of the year-end financial statements
melisa1 [442]

Answer:

Current liability refers to the short term obligations of the firm which need to be settled down within a period of one year or within a normal operating cycle.

(a) $0 would be reported as current liability, as it is not a current liability. It is a contingent liability.

(b) The amount of current liability is $192,900 because it is a liability of a firm to pay bonuses to the employees.

(c) The amount of current liability is as follows:

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Payment of interest on loan is a liability of the firm.

(d) $0 would be indicated in current liability, because provision for doubtful accounts is subtracted from the total accounts receivable to determine the net account receivables.

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6 0
3 years ago
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2million

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I hope naka tulong

6 0
3 years ago
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What is meant by allocative efficiency? Allocative efficiency is when every good or service A. is produced up to the point where
Alborosie

Answer:

Option (E) is correct.

Explanation:

Allocative efficiency is created when the gap between marginal benefit and marginal cost is maximum. The marginal benefit is the benefit that a consumer can get by consuming an additional unit of a commodity and the marginal cost is the cost that a producer incurred by producing an additional unit.

Hence, the allocative efficiency is achieved where the difference between these two terms is maximized.

5 0
3 years ago
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Readme [11.4K]

Answer:

1-True

2-False

3-True

4-False

5-True

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5-The clean methods one of the procedures that are part of the healing rituals of traditional medicine. This concept is related to the notion of disease and the causes they produce. One of the ways of cleaning is as a form of prevention.

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