For computing the overall variable overhead efficiency variance first we have to need to find out the standard variable overhead rate which is shown below:

= ($11,680 + $41,900) ÷ 4,700 hours

= $11.4

Now the variable overhead efficiency variance is

= standard variable overhead rate × (Actual machine hours - standard machine hours)

= $11.4 × (4,740 machine hours - 4,730 machine hours)

= $114 unfavorable

This unfavorable indicates the actual hours are more than the standard hours

6 0

3 years ago

Cash received through the sale of long-term investments would be reported in the statement of cash flows as a a.Cash inflow in t

avanturin [10]

Answer:

b.Cash inflow in the investing activities section.

Explanation:

The cash flow statement shows the cash used or provided by the various activities of an entity during a given period. These activities are categorized into operating, investing and financing activities.

Non current asset sale and purchases are accounted for in the investing section of the cash flow statement as an inflow and an outflow of cash respectively.

Hence, Cash received through the sale of long-term investments would be reported as Cash inflow in the investing activities section.

4 0

3 years ago

On January 1, 2020, Blue Co. purchased 24,000 shares (a 10% interest) in Elton John Corp. for $1,300,000. At the time, the book

Len [333]

Answer:

$4,465,400

Explanation:

The investment in Elton in 2020 $1,300,000

share of 2020 net income(10%*$690,000) $69,000

ending balance of investment in 2020 $1,369,000

Share of net income 6/30/21 ($480,000*10%) $48,000

ending balance of investment 6/30/21 $1,417,000

Acquisition of investment 7/1/2021 $2,920,000

Total amount of investment $4,337,000

share of net income 12/31/2021($800,000*30%) $240,000

Dividends received(48,000+24,000)*$1.55 ($111,600)

balance of investment in Elton John Corp $4,465,400

In computing the above value,at each point in time the share of Blue Co from net income earned by Elton john corp is added while any dividends received in cash is deducted.

8 0

3 years ago

How much yearly revenue does soccer brings in?

Irina-Kira [14]

Answer:

Soccer is a sport which gets majority of its revenue from television rights and tournament sponsors.

The Men’s World Cup tournament is known by the governing body, FIFA to generate more money than any other tournament. FIFA was believed to have earned more than $6 billion in its last organized men’s tournament.

This translates that the total revenue soccer brings in is in the region of hundreds of billions of dollars.

4 0

3 years ago

Commission earned but not received is debit or credit?​

Commission earned but not received is debit or credit?