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erica [24]
2 years ago
12

Which of the following statements accurately describes a flexible budget​ variance?

Business
1 answer:
yulyashka [42]2 years ago
5 0

Answer: Option B

         

Explanation: In simple words, flexible budget variance refers to the difference between the results that were predicted by the flexible budget model and the actual results.

Flexible budgets are not rigid and are made on some assumptions the difference arises due to variance in the level of variable expenses that were incorrectly predicted by the model.

Hence the correct option is B.

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The following information was taken from the records of Marigold Inc. for the year 2020: Income tax applicable to income from co
ivolga24 [154]

Answer:

Net income is $312,610.

Explanation:

This can then be prepared as follows:

Marigold Inc.

Single-Step Income Statement

For the Year 2020

<u>Particulars                                                               $                        $ </u><u>        </u>

<u>Revenue</u>

Sales Revenue                                               1,634,000

Rent revenue                                                      34,400

Gain on sale Of equipment                          <u>      81,700  </u>

Total revenue                                                                          1,750,100

<u>Expenses</u>

Cost of goods sold                                         (731,000)

Selling expenses                                           (258,000)

Administrative expenses                              (206,400)

Loss on write-down of inventory               <u>     (51,600)  </u>

Total expenses                                                                  <u>   (1,247,000)  </u>

Operating income before tax                                                 503,100

Tax on income from continuing

operations                                                                         <u>     (160,820)  </u>

Income from operation after tax                                           342,280

<u>Other income (loss ) (net of tax) </u>

Unrealized holding gain on

available-for-sale securities (net of tax)                               <u>   12,900  </u>

Income from continuing operations

after tax                                                                                   355,180  

<u>Discontinued operations</u>

Loss on discontinued operations

before tax                                                        (64,500)

Tax on loss on discontinued operations       <u>  21,930  </u>

Loss on discontinued operations after tax                        <u>   (42,570)  </u>

Net income                                                                          <u>    312,610  </u>

Earning per share

(Net income / Number of Shares outstanding)                           3.13

5 0
2 years ago
What do you think is the most important thing an advertising professional must remember when using social media?
Jobisdone [24]

Answer: the target audience

Explanation: you have to n remember who the post is intended for.

4 0
3 years ago
. If Carissa Dalton has a $130,000 home insured for $100,000, based on the 80 percent coinsurance provision, how much would the
aev [14]

Answer:

$4,807.69

Explanation:

The first step is to calculate the requirement for coinsurance

= 80/100 × 130,000

= 0.8× 130,000

= 104,000

Therefore the amount in which the insurance person will pay can be calculated as follows

= 100,000/104,000 × 5000

= 0.96153×5000

= $4,807.69

7 0
3 years ago
Rex became a partner with a 30% interest in the partnership profits when he invested $200,000. In 2019, the partnership generate
avanturin [10]

Answer:

The Rex’s gross income from the partnership in 2019 and 2020 is $1,20,000 and $1,80,000 respectively

Explanation:

The computation of the gross income for each year is shown below:

In 2019:

Gross income = Taxable income × percentage of interest in profits

                       = $400,000 × 30%

                       = $1,20,000

In 2020:

Gross income = Taxable income × percentage of interest in profits

                       = $600,000 × 30%

                       = $1,80,000

The withdrawn amount is not consider for computing the gross income. So, we ignored it

8 0
3 years ago
When planning a procurement, it is useful to ______________.
Gre4nikov [31]

Answer & Explanation: When planning a procurement, it is useful to at least conduct a make or buy analysis which aids in determining the most cost effective approach, to consult and liaise with in-house experts in the departments of procurement, human resource, and legal, and also to insure the sponsor of the project signs off on the procurement plan. The goal of procurement planning is to increase the transparency and predictability of the procurement process while also deciding on what to buy, when and from what source.

5 0
3 years ago
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