Answer:
$9,000 unfavorable
Explanation:
The computation of the total fixed overhead variance is shown below:
= Actual fixed overhead costs - Budgeted fixed overhead
where,
Budgeted fixed overhead is $360,000
And, the Actual fixed overhead cost is computed below:
= Actual fixed overhead × Actual production ÷ budgeted production
= $360,000 × 11,700 units ÷ 12,000 units
= $351,000
Now put these values to the above formula
So, the value would equal to
= $351,000 - $360,000
= $9,000 unfavorable
Answer:
$150,000
Explanation:
The computation of value of ending inventory under absorption costing is shown below:-
Total Cost per unit = Direct Material per unit + Direct Labor per unit + Variable Overhead per unit + Fixed Overhead per unit
= $5 + $4 + $3 + ( $200,000 ÷ 25,000 units)
= $5 + $4 + $3 + $8
= $20
Ending Inventory in units = Units produced - Units sold
= 25,000 - 17,500
= 7,500
Cost of Ending Inventory = Total Cost per unit × Ending Inventory units
= $20 × 7,500
= $150,000
So, for computing the cost of ending inventory we simply multiply the total cost per unit with ending inventory units.
A credit union is a non-profit financial intermediary.
Answer:
Oct 31
Dr Cash $7,201
Cr Notes receivable—R. Albany $7,000
Cr Interest revenue $201
Explanation:
Preparation of Jun's journal entry assuming the note is honored by the customer on October 31, of that same year
Oct 31
Dr Cash $7,201
($7,000+$201)
Cr Notes receivable—R. Albany $7,000
Cr Interest revenue $201
(11.5%*7,000*90/360)
