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tino4ka555 [31]
3 years ago
12

On January 15, 2021, Vancey Company paid property taxes on its factory building for the calendar year 2021 in the amount of $1,0

80,000. In the first week of April 2021, Vancey made unanticipated major repairs to its plant equipment at a cost of $2,700,000. These repairs will benefit operations for the remainder of the calendar year. How should these expenses be reflected in Vancey's quarterly income statements
Business
1 answer:
tankabanditka [31]3 years ago
4 0

Answer and Explanation:

The presentation is presented below:

Particulars          3/31/21             6/30/21              9/30/21              12/31/21    

Property taxes    $270,000       $270,000          $270,000            $270,000

Repairs                                        $900,000          $900,000           $900,000

Total                   $270,000        $1,170,000          $1,170,000          $1,170,000

The property taxes is divided into four quarters i.e

= $1,080,000 ÷ 4 quarters

= $270,000

While the repairs are divided into 3 quarters i.e

= $2,700,000 ÷ 3 quarters

= $900,000

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Answer: variable costs of $49,500 and $23,000 of fixed costs

Explanation:

A flexible budget refers to the budget which adjusts to the volume levels of a company.

Based on the information given in the question, the variable cost will be:

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4 0
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A large-scale bakery is laying out a new production process for its packaged bread, which it sells to several grocery chains. It
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Answer:

840 breads size oven.

Explanation:

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R= 4200 breads per hour or 70 breads per minute (4200/60)

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Inventory = 70 breads per minute × 12 minutes

Inventory = 840 breads size oven

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Designs by Candice is a graphic design studio specializing in logos and business stationery. Candice has just made a $69,300 inv
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Answer:

Designs by Candice

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Then in charging her customers she would include the profit target of $7,623 (representing 11% of her capital investment).

Explanation:

As a graphic design studio, Design by Candice would buy stationery and design materials, including 3D printers and other software.  Candice would also incur labor costs on those doing the design proper.  There are also manufacturing overheads, including rent, utilities, etc. and not to forget other indirect costs like selling and marketing and administrative expenses.

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Answer:

Option (B) is the right answer.

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