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babunello [35]
3 years ago
14

A company had a beginning balance in retained earnings of $400,000. It had net income of $50,000 and declared and paid cash divi

dends of $55,000 in the current period. The ending balance in retained earnings equals:
Business
1 answer:
Greeley [361]3 years ago
4 0

Answer:

$395,000

Explanation:

A company has a beginning balance of $400,000

The company has a net income of $50,000

The company also declared and paid a cash dividend of $55,000

Therefore, the ending balance in the retained earnings can be calculated as follows

Beginning balance+ net income -Dividend paid

= $400,000+$50,000-$55,000

= $395,000

Hence the ending balance in the retained earnings is $395,000

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Type the correct answer in the box. Spell all words correctly.
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Explanation:

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Jones Manufacturing incurred fixed overhead costs of $8,000 and variable overhead costs of $4,600 to produce 1,000 gallons of li
anygoal [31]

Answer:

Jone Manufacturing

Total Overhead Variance = $2,000U.

Explanation:

Variance is the difference between budgeted and actual expense.  It is favorable when the actual is less than the budgeted amount.  It is unfavorable when the actual is more than the budgeted amount.  It is neither favorable nor unfavorable when the actual equals the budgeted amount.

Variance analysis as a budgeting tool is used to evaluate the performance of management in managing costs, relative to the activity levels.  

In Jones Manufacturing, actual and budgeted costs are calculated as follows:

Actual costs:

Fixed overhead = $8,000

Variable overhead = $4,600

Total = $12,600

Budget costs:

Fixed overhead = $10,000 (2,000 hours x $5)

Variable overhead = $4,600

Total = $14,600

Variance = budgeted overhead minus actual overhead

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