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sineoko [7]
3 years ago
11

The variable overhead spending variance, the fixed overhead spending variance, and the variable overhead efficiency variance can

be combined to find the:a. Volume variance.b. Price variance.c. Quantity variance.d. Production variance.e. Controllable variance.
Business
1 answer:
laila [671]3 years ago
4 0

Answer:

The answer is letter E

Explanation:

The variable overhead spending variance, the fixed overhead spending variance, and the variable overhead efficiency variance can be combined to find the controllable variance

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Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment $ 6
Iteru [2.4K]

Answer: Multi Step Income Statement

As for the information provided,

Sales = $225,000

Less: Sales Discounts = ($15,200)

Less: sales Returns And Allowances = ($3,900)

Net Sales = $205,900

Cost of goods sold = ($88,800)

Gross Profits = $117,100

Expenses:

Selling expenses:

Rent Expense = $10,500

Sales staff wages = $22,400

Sales commission = $13,600

TV advertising expense = $3,000

Total Selling expense = ($49,500)

General And Administrative Expense

Office Supplies = $790

Insurance = $1,240

Depreciation expense Office copier =  $420

Office salaries expense = $32,100

Total General Administrative Expense = ($34,550)

Total Expenses = ($84,050)

Operating Income = $33,050

Other Revenues Gains & Losses

Interest revenue = $660

Gain on sale of equipment = $6,250

Total Other Revenues = $6,910

Net Income = $39,960

6 0
4 years ago
The marginal product of labor in the production of computer chips is 3030 chips per hour. The marginal rate of technical substit
fredd [130]

Answer:

150

Explanation:

As we know that

The marginal rate of technical substitution ​(MRTS) = Marginal product of labor ÷ Marginal product of capital

where,

The marginal rate of technical substitution ​(MRTS) = 0.20

And, the marginal product of labor is 30 chips per hour

So, the marginal product of capital is

= 30 chips per hour ÷ 0.20

= 150

The marginal rate of technical substitution ​(MRTS​) shows a relationship between the marginal product of labor and the marginal product of capital

5 0
3 years ago
Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $15,000 (original cost of $34,000 l
Vesnalui [34]

Answer:

a. Gain on sale of land  = $230,000

b. Loss on the exchange of the tractor = $5,400

c-1. Gain on Exchange of the tractor = $5,000

c-2. Initial value of new tractor = $35,600

Explanation:

a. What is the amount of gain or loss that Kapono would recognize on the exchange of the land?

This can be determined as follows:

<u>Details                                       Amount $     </u>

Fair value of land                       760,000

Book value of land                   <u>(530,000) </u>

Gain (loss) on sale of land       <u> 230,000 </u>

b. What is the amount of gain or loss that Kapono would recognize on the exchange of the tractor?

This can be determined as follows:

<u>Details                                       Amount $     </u>

Original Cost of Tractor                34,000

Accumulated Depreciation         <u>(19,000)  </u>

Book Value of Tractor                <u>  15,000 </u>

Therefore, we have:

Loss on Exchange of the tractor = Fair value - Book Value of Tractor = $9,600 - $15,000 = $5,400

c. Assume the fair value of the old tractor is $20,000 instead of $9,600. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor?

c-1. Calculation of the amount of gain or loss that Kapono would recognize on the exchange

From part b, we have:

Book Value of Tractor = $15,000

And, we have:

Fair Value = $20,000

Therefore, we have:

Gain on Exchange of the tractor = Fair value - Book Value of Tractor = $20,000 - $15,000 = $5,000

c-2. Calculation of the initial value of the new tractor

This can be determined as follows:

Initial value of new tractor = Fair Value of tractor given + Cash paid = $9,600 + $26,000 = $35,600

8 0
3 years ago
The law of diminishing returns states that, ceteris paribus, the
Vsevolod [243]

The law of diminishing returns states that, ceteris paribus, the rate of profit from an investment will continue to diminish as more capital ins invested into that product.

<h3>What is Ceteris Paribus?</h3>

Ceteris Paribus is a Latin phrase often quoted in economics that means "all things being equal". It is used to connote the fact that in the consideration of a law, sometimes it is assumed that all other factors are given or at play.

It is to be noted that the Law of Diminishing Returns is also applicable to Labor, Utility and Marginal Returns.

Learn more about the Law of Diminishing Returns at;
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#SPJ12

6 0
2 years ago
What is the financial incentive for the buyer to purchase shares of a stock?
Komok [63]
The answer is a dividend. These companies give their shareholders this payment base on their share of stock. They provided it to show that the company has a stable financial condition. Thus, their trust is gained due to this kind of benefit.
6 0
4 years ago
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