The classical viewpoint of management emphasized ways to __

During February 2017, its first month of operations, the owner of Schwenn Enterprises invested cash of $100,000. Schwenn has cas

olchik [2.2K]

Answer:

Cash balance is $85,000

Explanation:

In determining the cash balance of the period, we must know how much is the inflow and outflow of the cash for the period and add it or deduct to the beginning balance. It is simply, beginning balance plus inflows less outflows. February is the first month of the operation of Schwenn Enterprises, that only means the possible beginning balance of the cash is the cash investment. So to further discuss it clearly, let’s do the computation.

Beginning balance on February $100,000

Add: inflow

Cash sales $20,000

Less: outflow

payment on expenses $35,000

CASH BALANCE AT FEBRUARY 28 $85,000

7 0

4 years ago

Consider some determinants of the price elasticity of demand: • The availability of close substitutes• Whether the good is a nec

kondor19780726 [428]

Answer:

Inelastic demand, Amputation procedure

Explanation:

The good with no close substitute is likely to experience inelastic demand because the consumer does not any close substitute to change to, this means that even when price is increased, the consumer is not likely to stop buying if the good is a necessary good.

The Amputation procedure will have least elastic demand because the diabetes sufferer does not have close substitute to change to when price increase while Diamond necklace is a luxury good, when the price is increased the consumer stop buying or switch to other luxury goods such as gold, silver that are equally used for decoration purposes.

8 0

3 years ago

Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its

Amanda [17]

Answer:

Over-applied by $3,842

Explanation:

If, Applied Overheads > Actual Overheads, overheads have been overapplied.

and

Since, Applied Overheads < Actual Overheads, overheads have been under- applied.

Applied Overheads = Predetermined rate x Actual Activity

where,

Predetermined rate = Budgeted Overheads ÷ Budgeted Activity

therefore,

Predetermined rate = $ 157,050 ÷ 4,500

= $34.90

Applied Overheads = $34.90 x 4,580 = $159,842

Since, Applied Overheads > Actual Overheads, overheads have been overapplied.

Over-applied overheads = $159,842 - $ 156,000 = $3,842

5 0

3 years ago

Q 4.26: on december 31, 2017, before any year-end adjustments, canterbury shoe repair's prepaid insurance account had a balance

melamori03 [73]

Calculation of adjusted balance for prepaid insurance at December 31, 2017:

It is given that on December 31, 2017, before any year-end adjustments, Canterbury shoe repair's prepaid insurance account had a balance of $3,500. It was determined that $2,200 of the prepaid insurance had expired.

So the adjusted balance for prepaid insurance at December 31, 2017, shall be (3500-2200) = $1,300

3 0

3 years ago

Davis Company uses a standard cost system for its production process and applies overhead based on direct labor hours. The follo

evablogger [386]

Answer:

$1,800

Explanation:

Calculation to determine the variable overhead efficiency variance

Using this formula

VOH Efficiency Variance = Budgeted VOH based on Actual - Budgeted VOH/Standard Qty

Let plug in the formula

VOH Efficiency Variance = ((16,000 * $1.80/hr) - ((5,000 * 3.00hrs/unit * $1.80/hr))

VOH Efficiency Variance = $(28,800.00 - $27,000.00)

VOH Efficiency Variance = $1.800

Therefore Using the four-variance approach, what is the variable overhead efficiency variance will be $1,800

8 0

3 years ago

The classical viewpoint of management emphasized ways to ___