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3 years ago

Acti Manufacturing Corporation is estimating the following raw material purchases for the final four months of the year:

Business

1 answer:

docker41 [41]3 years ago

6 0

Answer:

Total disbursement 892,000

Explanation:

Nomvember cash disbursement for raw materials

Nomvember purchase 860,000 x 60% = 516,000

ocober purchase 940,000 x 40% = 376,000

Total disbursement 892,000

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Jing Company was started on January 1, Year 1 when it issued common stock for $28,000 cash. Also, on January 1, Year 1 the compa

denpristay [2]

Answer:

5,280 net income for the Year 3

Explanation:

This would be the situation:

17,400 revenue

11,000 expenses

gain/loss on sale of equipment

= net income year 3

To know the result of the sale of equipment we have to do

sales price - book value = gain/loss on sale of equipment

8900 - book value = gain/loss

We have to determinate the book value.

book value = adquisition cost - acumulated depreciation

The equipment cost 15,200 + 1,300 transportation cost = <u>16,500 Adquisition Cost</u>

acumulated depreciation = depreciation per year * 3 years

and depreciation per year is:

$\ $ depreciation per year $= \frac{Adquisition Value - Salvage Value }{Useful Life}$

Here we have all the values, so we stop digging and start solving.

<em>depreciation </em>= (16,500-5,700)/5 = 2,160

<em>acumulated depreciation</em> = 2,160 * 3 = 6,480

<em>book value</em> = 16,500 - 6,480 = 10,020

<em>gain/loss </em>= 8,900 - 10,020 = -1,120 LOSS on sale of Equipment

net income = 17,400 - 11,000 - 1,120 = 5,280 net income for the Year 3

6 0

4 years ago

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hour

geniusboy [140]

The materials quantity variance for March for Preble Company, which manufactures a product, is <u>$96,000 Unfavorable</u>.

<h3>What is a materials quantity variance?</h3>

A material quantity variance shows the difference between the actual materials consumed and the budgeted amount in production.

Computing the materials quantity variance helps management to determine the production efficiency.

The materials quantity variance can be computed using the following formula:

Materials Quantity Variance = (Standard Quantity Units – Actual Quantity Units ) ✕ Standard Cost Per Unit.

<h3>Data and Calculations:</h3>

Planned production and sales units = 32,000 units

Actual production and sales units = 37,000 units

<h3>Standard Costs:</h3>

Direct materials: 4 pounds at $8 per pound $ 32

Direct labor: 2 hours at $16 per hour 32

Variable overhead: 2 hours at $6 per hour 12

Total standard cost per unit $ 76

<h3>Actual Costs:</h3>

Purchase of raw materials = 160,000 pounds

Cost of purchase per pound = $7.40

Direct labor hours = 67,000 hours

Direct labor rate = $17 per hour

Total variable manufacturing overhead = $422,100

Materials Quantity Variance = (Standard Quantity Units – Actual Quantity Units ) ✕ Standard Cost Per Unit.

= (37,000 x 4 - 160,000) x $8

= $96,000 Unfavorable

Thus, the materials quantity variance for March for Preble Company is <u>$96,000 Unfavorable</u>.

Learn more about computing variances at brainly.com/question/15858152

3 0

2 years ago

Match each Item with its definition.

Bezzdna [24]

<u>Materiality:</u> it's a principle which states that the financial statements of a business should fully disclose all transactions that the business made.

GAAP is an abbreviation for Generally Accepted Accounting Principles and it comprises the financial accounting standards, procedures and principles that must be used by all public institutions operating in the United States of America.

Additionally, <u>GAAP</u> is the stock market regulator. Also, <u>conservatism</u> is a principle that involves exercising caution while estimating expenses or profits.

In conclusion, financial accounting standards board (FASB) is the body that established Generally Accepted Accounting Principles (GAAP).

Read more on GAAP here: brainly.com/question/16014008

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7 0

2 years ago

Dave took an intelligence test and received an iq score of 62. he was classified as intellectually disabled. of the following, w

nydimaria [60]

In the given scenario, the best informed reaction in Dave's classification is that it would still be classified as invalid. It is because it still lacks evidence and in order to confirm the given result which had said that he is intellectually disabled, they should also assessed his skills of adapting. If his adaptive skills has been assessed, it will then only be considered if the results are correct or not.

5 0

3 years ago

1) When there is uncertainty in the marketplace, what happens to yield spreads and why?2) Why do venture capital companies often

Yuki888 [10]

Answer and Explanation:

1. When there is high uncertainty in the market, there will be high yield spreads. This is because the higher the risk the higher the profit or compensation for risk

2.preferred stock positions pay more consistent dividends that common stock positions and also pay higher than bonds.

3.Accelerated depreciation is depreciation method in accounting that deducts higher depreciation expenses in the early life of an asset therefore leaving the company to pay less taxes on these assets and more cash flow. Increased cash flow consequently encourages and leads to more investment

5 0

4 years ago