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VikaD [51]
3 years ago
11

Last quarter, RP Enterprises earned $220,000 in sales revenue and had $90,000 cost of goods sold (at standard). RP also experien

ced these variances: Materials price: $2,400 F Materials quantity: $1,400 U Labor price: $2,000 U Labor quantity: $1,000 F Overhead: $1,500 F
What was RP’s actual gross profit?
Business
1 answer:
Rudik [331]3 years ago
4 0

Answer:

Gross profit= 131,500

Explanation:

Giving the following information:

Last quarter, RP Enterprises earned $220,000 in sales revenue and had $90,000 cost of goods sold (at standard). RP also experienced these variances: Materials price: $2,400 F Materials quantity: $1,400 U Labor price: $2,000 U Labor quantity: $1,000 F Overhead: $1,500 F

To calculate the cost of goods sold, we use actaul costs and quantity of direct labor and direct materials. Therefore, the only estimated cost is overhead.

Gross profit= 220,000 - 90,000 + 1,500= 131,500

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Answer:

The correct answer is letter "A": helped support some weaker European countries during the recent financial crisis.

Explanation:

The International Monetary Fund (IMF) is a U.S. based part of the United Nations (UN) agency that promotes international economic prosperity by cooperating with least-favored nations to reduce their unemployment rates. The fund has 189 members and had a vital contribution in the Western European economic recovery after their recent financial crisis as a consequence of unemployment, drop of purchasing power and public debt.

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Which of the following users of accounting information are interested in the quality of a company assets?
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D

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Ms. Pear owned 1,000 shares of YZ Corporation which she had purchased in Year 1 at a cost of $12 per share. In Year 3, she recei
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$2,000

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Suppose a company owns a warehouse that costs $500,000 and depreciates at $10,000 per year. If the interest rate is 5%, what is
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