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3 years ago

How do sales skimming schemes leave a victim organization's books in balance, - despite the theft of funds?

1 answer:

3 0

The money is skimmed before the transaction is processed. In a casino the casinos winning are moves to a count room during the movement money is removed before being counted.

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At the beginning of 2013, Barcroft Co. estimated that its total annual fixed overhead costs would amount to $25,000. Further, Ba

Varvara68 [4.7K]

Answer:

b. Products were overcosted in 2013

Explanation:

When determining the cost of a product, we consider only the Overheads Applied.

Applied Overheads are calculated as :

Pre-determined Overhead Rate multiplied by Actual Activity

Predetermined Overhead Rate is calculated as follows :

Budgeted Overheads divided by Budgeted Activity

Predetermined Overhead Rate = $25,000/2,000 units

= $ 12.50 per unit

Applied Overheads = $ 12.50 per unit × 2,200 units

= $ 27,500

The Overheads Applied are then Compared to Actual Overhead Cost to determine is the Overheads where Over or Under Applied

Therefore our case presents the following:

Applied Overheads ($ 27,500) >Actual Overheads ($25,000)

Therefore, we have an Over-Application situation.

Over-Applied Overheads are $2,500

3 0

3 years ago

ProCart manufactures shopping carts which it sells directly to supermarkets at a unit price of $36. Salesmen complain that they

Anna71 [15]

Answer:

salesman sell before contributes anything to manufacturing overhead and profit = 1852 units

Explanation:

given data

Sale price = $36

variable cost = 40%

budgeted auto and travel expenses = $12,000

salary = $28,000

to find out

how many units will the salesman sell before contributes anything to manufacturing overhead and profit

solution

we get here makes variable cost that is

makes variable cost = 40% of $36

makes variable cost = $14.40

so contribution margin per unit will be

contribution margin = 36 - 14.4

contribution margin = $ 21.60

and Fixed cost will be as

Fixed cost = salary + budgeted auto and travel expenses

Fixed cost = 28000 + 12000

Fixed cost = $40000

and now salesman sell before contributes anything to manufacturing overhead and profit will be as

salesman sell before contributes anything to manufacturing overhead and profit = Fixed cost ÷ Contribution margin per unit .......................1

salesman sell before contributes anything to manufacturing overhead and profit = $\frac{40000}{21.6}$

salesman sell before contributes anything to manufacturing overhead and profit = 1852 units

5 0

4 years ago

Which of the following business document contains preprinted blanks to be filled in?

stira [4]

The answer to the question is a form

4 0

3 years ago

Read 2 more answers

Love Company’s accounting records show an after-closing balance of $42,100 in its Retained Earnings account on December 31, 2018

konstantin123 [22]

Answer and Explanation:

Closing Balance (Retained earning ) of 31 Dec 2018 is called Opening Balance of 1 Jan 2019 , i.e. $42,100

There is no particular information provide for 1 Jan 2018 .So, assume there is Zero balance of retained Earning

Calculation of retained earning of 31 Dec 2017

Retained earning $42,100

Less: revenue during the year $19,400

Add: Expenses During the year $9,800

Add : Dividend $500

Retained earning on 31 Dec 2017 $33,000

Retained earning is a temporary account So, $33,000 is balance of Retained earning At 30 June 2018.

4 0

3 years ago

If revenue is $2000 and operating expenses are $6000, cash flow equals _____.

maksim [4K]

Answer:

-4000 hope this helps :)

7 0

3 years ago