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3 years ago

Gina Production Company uses a standard costing system. The following information pertains to the current year:

Business

1 answer:

zysi [14]3 years ago

5 0

Answer:

Fixed overhead volume variance

= (Standard hours - Budgeted hours) x Standard fixed overhead rate

= (11,000 - 10,000) x $1.35

= $1,350(F)

The correct answer is A

Standard fixed overhead rate

= Budgeted overhead

Budgeted direct labour hours

= $13,500

10,000 hours

= $1.35 per direct labour hour

Explanation:

Fixed overhead volume variance is the difference between standard hours and budgeted hours multiplied by standard fixed overhead application rate. Standard fixed overhead application rate is the ratio of budgeted overhead to budgeted direct labour hours.

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which would be considered assets? check all that apply.own a guitarchecking accountstudent loanstocks and bondsmonthly rentown a

Harrizon [31]

The correct options are

own a guitar
checking account
stocks and bonds
own a motorcycle

A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset. The balance sheet of a business lists assets. They are divided into four categories: tangible, financial, fixed, and current. They are acquired or produced in order to raise a company's worth or improve the operations of the company. Whether it's industrial equipment or a patent, an asset may be viewed of as anything that, in the future, can create cash flow, lower expenditures, or increase sales. A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset.

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2 years ago

Jason and Mary are married taxpayers in 2019. They are both under age 65 and in good health. For 2019 they have a total of $41,0

Elis [28]

Answer:

a. Adjusted Gross income is calculated as;

= Wages + Interest - Deduction

= 41,000 + 700 - 5,000

= $36,700

b. The couple will pick their Standard deduction in 2019 because its more than the itemized deduction.

Standard deduction for couples in 2019 = $24,400

c. I assume you mean their 2019 taxable income which is;

= Adjusted Gross income - Standard deduction

= 36,700 - 24,400

= $12,300

Note; As of 2018 there are no more personal deductions.

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3 years ago

What is a beneficiary? Question 50 options: The person who files insurance claims on your behalf The person who determines wheth

Zina [86]

A beneficiary in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor. For example, the beneficiary of a life insurance policy is the person who receives the payment of the amount of insurance after the death of the insured.

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3 years ago

The Converting Department of Worley Company had 2,400 units in work in process at the beginning of the period, which were 35% co

irinina [24]

Answer:

Equivalent units

Materials = 12,700 units

Conversion cost = 11,940 units

Explanation:

Equivalent Units E.U) are notional whole units which represent incomplete work and are used to apportion costs between between work in progress and completed work.

Equivalent Units = Degree of completion (%) × units

We will use the weighted average method

Weighted average method

The weighted average method of valuation of work in progress does not separate opening work-in progress from the newly introduced.

Using the weighted average method

Equivalent unit for material cost

Since direct materials are added at the the beginning of the production process the equivalent unit of direct material

EU = (100% × 10,800) + (100% ×1900) = 12700

Note that 100% represent the degree of completion.

Equivalent unit for conversion cost

Item Equivalent unit

Transferred out 100%× 10,800 = 10,800

Closing inventory 60% ×1900 = 1140

Total equivalent unit = 11,940

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3 years ago

You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The

Novosadov [1.4K]

Answer:

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3 years ago

Gina Production Company uses a standard costing system. The following information pertains to the current year: ​

Gina Production Company uses a standard costing system. The following information pertains to the current year: