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svlad2 [7]
3 years ago
14

Bluecap Co. uses a standard cost system and flexible budgets for control purposes. The following budgeted information pertains t

o 2019:
Denominator volume-number of units 8,000
Denominator volume-percent of capacity 80%
Denominator volume-standard direct labor hours 24,000
Budgeted variable factory overhead cost at the denominator volume $103,200
Total standard factory overhead rate per direct labor hour $15.10
During 2019, Bluecap worked 28,000 direct labor hours and manufactured 9,600 units. The actual factory overhead was $14,000 greater than the flexible budget amount for the units produced, of which $6,000 was due to fixed factory overhead. In preparing a budget for 2020 Jensen decided to raise the level of operation to 90% of capacity, to manufacture 9,000 units at a budgeted total of 27,000 direct labor hours.
a. Compute variable overhead variances for 2019:
b. Compute fixed overhead variances for 2019:
c. Under the assumption that the total budgeted fixed overhead for 2020 is the same as it was for 2019, what is the standard fixed overhead application rate per direct labor hour for Bluecap Co. for 2019?
d. Must be done in excel and show all work.

Business
1 answer:
shutvik [7]3 years ago
3 0

Answer:

Explanation:

check attached file for solution

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What is the change from a gaseous state to a liquid
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This change is called condensation.

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On June 30, 2021, the Esquire Company sold some merchandise to a customer for $66,000. In payment, Esquire agreed to accept a 8%
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Answer:

Esquire Company

Date                            Particulars                  Debit           Credit

30 June                   Accounts  Receivable            $ 66,000

                                         Sales                $ 66,000

On June 30, 2021, the Esquire Company sold some merchandise to a customer for $66,000.

31 Mar                 Note Receivable         $ 66,000

                                  Account Receivable                  $ 66,000

Esquire agreed to accept a 8% note requiring the payment of interest and principal on March 31, 2022.

31 December   Notes Receivable                       $ 66,000

                                Interest Receivable               $ 3960

                                            Sales                           $ 66,000

                             Interest Revenue                          $ 3960

To record the accrued interest earned. $66,000*8%= $ 5280. As it is for nine months the amount would be $ (5280/12)*9= $ 3960

31 March                  Cash                $ 71,280

                                              Interest Income $ 5280

                                                      Notes Receivable $ 66,000

March 31, 2022 collection of Note receivable and interest accrued.                    

2. The income will be understated by an amount of $ 3960 in 2021 if an adjusting entry is not made on Dec 31 of accrual interest.

The adjusting entry on 31st December 2022 of the interest accrual will not be required as interest has been received on March 31st 2022.

The income will be understated by $ 5280 in 2022 if an adjusting entry is not made on Mar 31st 2022 of the interest received.

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3 years ago
If a firm decide to eliminate a product line that produce a yearly net lo of $21000 it yearly net income
mina [271]

Option A is the proper response. It will only increase by $21,000 if it can completely eliminate all of the fixed expenses related to that product line.

Net income, in both business and accounting, is an entity's revenue fewer costs, depreciation and amortization, interest, and taxes for a given accounting period.

All fixed expenses related to a discontinued product line should also be discontinued. then the corporation can add $21,000 to its overall net profits. When a product line is discontinued, variable expenses are automatically eliminated.

The correct response is A. only if it can eliminate all of the fixed costs related to that product line will it increase by $21,000.

To learn more about Net Income, refer to this link:

brainly.com/question/1347024

#SPJ4

<u>COMPLETE QUESTION:</u>

If a firm decides to eliminate a product line that produces a yearly net loss of $21,000, its yearly net income

A. will increase by $21,000 only if it can eliminate all of the fixed costs associated with that product line.

B. will increase by $21,000 only if it can eliminate all of the variable costs associated with that product line.

C. will automatically increase by $21,000.

D. will decrease unless the firm can eliminate all of the fixed costs associated with that product line.

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