Answer:
Production= 45,000 units
Explanation:
Giving the following information:
Raw materials, June 1: 46,000 units
Raw materials, June 30: 51,000 units
Purchases of raw materials during June: 185,000 units
<u>First, we need to calculate the raw material used in production:</u>
<u></u>
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 46,000 + 185,000 - 51,000
Direct material used= 180,000
<u>Now, the production for the period:</u>
Production= 180,000/4
Production= 45,000 units
Answer:
Cash and contributed capital
Explanation:
The journal entry to record the sale of common stock is shown below:
Cash A/c Dr $45,000
To Common stock A/c $45,000
(Being the common stock is sold)
For recording this transaction, we debited the cash account as the sale is made which increases the asset and credited the common stock account because the common stock is sold which reduces the equity balance.
Answer:
$10,950 Unfavorable
Explanation:
For computation of flexible budget variance for total costs first we need to find out the standard cost which is shown below:-
Standard cost = (Sold connectors × budgeted variable costs) + Fixed costs per month
= (77 × $150) + $5,500
= $11,550 + $5,500
= $17,050
Flexible budget variance for total costs = Actual cost - Standard cost
= $28,000 - $17,050
= $10,950 Unfavorable
Answer:
Lloyd needs to increase his witholding tax to $1,560 this year in order to avoid the underpayment penalty .
Explanation:
As a rule, a citizen can maintain a strategic distance from an underpayment of punishment if their retention and evaluated assessment installment measure up to or surpass one of the two safe harbours
90% of current expense risk = 90% × $11,350
= $10,215
100% of past assessment risk = $15,900
Since his(Lloyd) retention is not equal to or exceed $10,215 or $15,900
Llyod should expand retaining or make payment this year in order to stay away from underpayment punishment
= $10,215 - $8,655
= $1,560
