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zhenek [66]
4 years ago
7

The standard factory overhead rate is $7.50 per machine hour ($6.20 for variable factory overhad and $1.30 for fixed overhead) b

ased on 100% capacity of 80,000 machine hours. The standard cost and the actual cost of factory overhead for the production of 15,000 units during August were as follows:Actual Variable Factory Overhead: $360,000fixed factory overhead 104,000Standard hours allowed for units produced: 60,000 hoursWhat is the amount of the factory overhead controllable variance?options for both are:a) 12,000Ub) 12,000Fc) 14000Ud) 26000U

Business
1 answer:
Alona [7]4 years ago
7 0

Answer:

b) 12,000F

Explanation:

Please see attachment .

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Indiana Co. bega n a construction project in 2018 with a contract price of $150 million to receive when the project completed in
Liula [17]

Answer: C) Recognized $9 million gross profit on the project in 2018.

Explanation:

Duration of construction project from 2018 to 2020 = 3 years

Cost incurred by Indiana co. in 2018 = $36 million

Estimated additional cost for the remainder of the project = $84 million

Total cost to be incurred over the duration of the project = $36 million + $84 million = $120 million

To calculate the percentage of the project completed, we use the cost figures;

Cost incurred so far (in 2018) ÷ Total cost to be incurred × 100

36,000,000/ 120,000,000 × 100 = 30%

Total revenue from contract (which is the contract price) = $150 million

Indiana Co. recognizes revenue according to the percentage of the project completed. Therefore, revenue recognized after 30% of the project is completed (which is the revenue for 2018) = 30% of $150,000,000

Revenue for 2018 = 30/100 × 150,000,000 = $45,000,000

Profit recognized on the project in 2018 = Revenue for 2018 - Cost incurred in 2018

Profit = $45,000,000 - $36,000,000

Gross profit recognized in 2018 = $9,000,000

5 0
3 years ago
In many large U.S. cities, taxicab companies operate as near monopolies because of_____.
Naya [18.7K]

Answer: Option (b) is correct.

Explanation:

Correct Option: Licenses

In United States, there is a licensing system which prohibits the number of taxicabs allowed. So, there are less number of taxicabs companies operates in most of the united states cities.

There is a advantage for the taxicabs companies for using the monopoly power.

Whereas, some of the cities of U.S use 'taxi medallions" as the permits for picking up the passengers.

4 0
4 years ago
Which entry records the investment of cash by John, owner of a sole proprietorship?
mote1985 [20]
The answer is: D - Debit Cash; credit John, Capital.

Explanation:

The entry records the investment of cash by John, owner of a sole proprietorship is: Debit Cash; credit John, Capital.
4 0
3 years ago
Franktown meats just announced that they are increasing the annual dividend to $1.75 and establishing a policy whereby the divid
Monica [59]

I guess the correct answer is $15.77

Franktown Meats just announced that they are increasing the annual dividend to $1.75 and establishing a policy whereby the dividend will increase by 2% annually thereafter. One share of this stock be worth six years from now is $15.77 if the required rate of return is 14.5%

5 0
3 years ago
Blank is a checking that is dishonored because of insufficient funds
alisha [4.7K]
<span> bank account where the depositor can write </span>checks<span>. A bank account where money is stored and returns a low interest rate. The same thing as a </span>checking<span> account. ...</span>Blank is a check that is dishonored because of insufficient funds<span>.</span>
7 0
3 years ago
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