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Slav-nsk [51]
3 years ago
5

The following data is given for the Bahia Company: Budgeted production (at 100% of normal capacity) 1,074 units Actual productio

n 971 units Materials: Standard price per pound $1.88 Standard pounds per completed unit 12 Actual pounds purchased and used in production 11,302 Actual price paid for materials $23,169 Labor: Standard hourly labor rate $14.34 per hour Standard hours allowed per completed unit 4.6 Actual labor hours worked 5,000.65 Actual total labor costs $76,260 Overhead: Actual and budgeted fixed overhead $1,048,000 Standard variable overhead rate $25.00 per standard labor hour Actual variable overhead costs $140,018 Overhead is applied on standard labor hours. Round your final answer to the nearest dollar. Do not round interim calculations. The fixed factory overhead volume variance is a.$100,507 unfavorable b.$100,507 favorable c.$28,353 unfavorable d.$28,353 favorable
Business
1 answer:
stellarik [79]3 years ago
7 0

Answer:

$100,507.91 Favorable

Explanation:

The computation of fixed factory overhead volume variance is shown below:-

Absorption rate =  Budgeted fixed overhead ÷ Budgeted production

= $1,048,000 ÷ 1,074

= $975.79

Absorbed overhead = Actual production × Absorption rate

= 971 × $975.79

= $947,492.09

Fixed factory overhead volume variance = Budgeted overhead - Absorbed overhead

= $1,048,000 - $947,492.09

= $100,507.91 Favorable

Therefore for computing the fixed factory overhead volume variance we simply applied the above formula.

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Franklin Aerospace has a quick ratio of 2.00x, $36,225 in cash, $20,125 in accounts receivable, some inventory, total current as
MrRissso [65]

Answer:

8.28 times

Explanation:

The number of times that Franklin Aerospace sell and replaces its inventory shall be determined through following mentioned formula:

Inventory turnover=sales/inventory balance

First we have to calculate the inventory balance which shall be determined as follows:

Quick ratio=current assets-inventory/current liabilities

2= $80,500-inventory/ $28,175

$56,350=$80,500-inventory

Inventory=$80,500-$56,350=$24,150

Now we will the number of times that Franklin Aerospace sell and replaces its inventory:

Inventory turnover=$200,000/$24,150=8.28 times

8 0
3 years ago
1. The interest rate that the Federal Reserve Bank (the Fed) charges member banks for loans is known as the____________ .
horsena [70]

Answer:

1. Discount rate.

2. Increase.

Explanation:

A Federal Reserve Bank is one of the twelve regional banks of the Federal Reserve System in the United States of America. The Federal Reserve Banks are saddled with the responsibility of implementing the monetary policy designed and provided by the Federal Open Market Committee (FOMC).

Federal Reserve System also known as the Fed, was created under the Federal Reserve Act which was passed by US Congress in 1913. The Fed began its operations in the year 1914. It's a financial institution which was founded by President Woodrow Wilson and was primarily aimed at backing each banks in order to put a definitive end to the bank panics of the 1800s.

Furthermore, just like all central banks, the Fed is a government financial institution which is saddled with these responsibilities;

1. Controlling the issuance of currency in United States of America: the Fed promotes public goals such as economic growth, low inflation, and the smooth operation of financial markets.

2. Providing banking services to all the commercial banks in the country: the Fed is the "lender of last resort.

3. Regulating banking activities: it has the power to supervise and regulate banks.

The Federal Reserve Board is the governing body which essentially manages the Federal Reserve System and performs an oversight function on domestic monetary policies.

<em>Additionally, the interest rate that the Federal Reserve Bank (the Fed) charges member banks for loans is known as the discount rate. Also, the Fed can increase the money supply by lowering this rate (discount rate) and thus, empowering the member banks to lend more money.</em>

5 0
3 years ago
The Acme Widget Company has found that if widgets are priced at s 389, then 1000 will be sold. They have also found that for eve
kvv77 [185]

Answer:

See the explanation below.

Explanation:

a. The number of widgets that will be sold

Let y represent the number of widgets that will be sold, and and we already have x as price of widget, we therefore have:

y - 1,000 = (-600/10) * (x - 389)

y - 1,000 = -60 * (x - 389)

y = 1,000 - [60 * (x - 389) ]

y = 1,000 - 60x + 23,340

y = 24,340 - 60x

b. The revenue generated by the sale of widgets

Let R represent Revenue, therefore we have:

R = xy

R = x(24,340 - 60x)

R = 24,340x - 60x²

c. The cost of producing just enough widgets to meet demand

Let C represent total cost, we therefore have:

C = 8,000 + 97.25y  

C = 8,000 + 97.25(24,340 - 60x)

C = 8,000 + 2,367,065  - 5,835x

C =  2,375,065  - 5,835x

d. The proft from selling widgets

Let P represent profit, we therefore have:

P = R - C

P = 24,340x - 60x²  - (2,375,065  - 5,835x)

P = 24,340x - 60x²  - 2,375,065  + 5,835x

P = - 60x²  + 30,175x - 2,375,065

e. Find the price that will maximize profits from the sale of widgets

Profit is optimum when dP/dx = 0

Therefore, we have

0 = - 120x + 30,175

120x = 30,175

x = 30,175/120 = $251.46

4 0
3 years ago
A financial intermediary is a corporation that takes funds from investors and then provides those funds to those who need capita
kondaur [170]

Answer: The statement is <u>TRUE.</u>

Financial intermediaries are those people or companies that offer financial services to the investor without the latter having to contact the issuer of the financial instrument.

Its function is that of intermediation between people who save and people who need financing, that is, between buyers and sellers.

4 0
3 years ago
If Penny bought a stock for $80 dollars and could sell it 15 years later for 4 times what she originally paid, what is Penny’s r
snow_lady [41]

Answer:

10%

Explanation:

Data provided in the question

Purchase value of the stock = $80

Number of years = 15

Times = 4

So, the return on owning this stock is

= Number of times^(1 ÷ number of years) - 1

= 4^(1÷15) - 1

= 4^0.0666666667  - 1

= 1.0968249797  - 1

= 0.0968249797

= 10% round off

All other things that are mentioned in the question is not relevant. Hence, ignored it

6 0
3 years ago
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