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3 years ago

The following information was compiled by Frank Ironman Incorporated:

Business

1 answer:

Bumek [7]3 years ago

8 0

Answer:

The correct option is D,$20,000 unfavorable

Explanation:

In the first place, it is noteworthy that fixed overhead flexible budget variance is the between the budgeted overhead cost and the actual fixed overhead incurred.

When actual fixed cost overhead is lower than budgeted,the resultant effect is a favorable variance,where the reverse is the case when the budgeted fixed overhead cost is higher as is the case here.

budgeted fixed overhead costs $200,000

Actual fixed overhead costs ($220,000)

fixed overhead flexible budget variance ($20,000) unfavorable

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Waterway Enterprises reported cost of goods sold for 2020 of $1,385,600 and retained earnings of $5,415,900 at December 31, 2020

levacccp [35]

Answer:

b. Corrected 2020 cost of goods sold = $ 1,320,320.

b. Corrected retained earnings = $5,377,860.

Explanation:

a. Determine the corrected amounts for 2020 cost of goods sold

An overstatement of the beginning inventory has to be deducted from the reported cost of good sold since the amount of the overstatement was added to the cost of goods sold initially.

On the other hand, an overstatement of the ending inventory has to be added to the reported cost of good sold since the amount of the overstatement was deducted to the cost of goods sold initially.

Therefor, we have:

Corrected 2020 cost of goods sold = $1,385,600 - $103,320 + $38,040 = $ 1,320,320.

b. Determine the corrected amounts for December 31, 2020, retained earnings

In this case, the amount of overstatement of the ending inventory has to be deducted from the reported retained earning since the retained earning was initially overstated by that amount.

Therefore, we have:

Corrected retained earnings = $5,415,900 - $38,040 = $5,377,860

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4 years ago

According to the _____ perspective of organizational change, organizations and human systems are complex and evolving and cannot

photoshop1234 [79]

<u>B)</u><u> Organizational learning.</u>

<u />

<h3><u>Organizational learning: What is it?</u></h3>

Organizational learning is the process through which a company develops over time by gaining information and applying that understanding to experience. The newly developed information is subsequently shared inside the company.

All businesses should prioritize organizational learning since internal knowledge production, transfer, and retention strengthen the organization as a whole.

There are three primary acts to take into account when examining the definition of organizational learning:

Conceive
Act
Reflect

Learn more about organizational learning with the help of the given link:

brainly.com/question/14316598?referrer=searchResults

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2 years ago

The daily water consumption for an Ohio community is normally distributed with a mean consumption of 850,125 gallons and a stand

malfutka [58]

Answer:

908.315

Explanation:

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3 years ago

I sent a survey to severalpersonnel departments to determine how many companies use online job resources

tatuchka [14]

How did it go?????????

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3 years ago

Jeff Goldblum has just purchased a security which has no maturity date and no promised dividend payments. He can recoup his inve

larisa [96]

Answer: Common stock

Explanation: In simple words, these are the securities which represent ownership in an organisation. The common stocks has no maturity date as it is the ownership right and will remain until the liquidation of the company.

The dividends to common stockholders are not fixed and depends on the profit that the company made in the year. They are paid dividends after debt holders.

They can sell their shares to other participants through securities markets like stock exchanges etc.

Hence from the above we can conclude that Jeff has purchased common stock.

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3 years ago