Answer:
E. Over applied overhead
Explanation:
Over applied overhead is defined as excess amount of overhead applied during a production period over the actual overhead incurred during that period. In other words, it means excess overhead applied to work over the amount of overhead actually incurred.
When this occurs, it is called favourable variance and it is added to the budgeted profit in the end of the accounting period in a financial statement.
True
The answer to this question is true
Answer:
The overhead variance for the year is $ 30000 and is Favorable/overapplied.
Explanation:
Overhead variance = Actual overhead - Applied overhead
= $470,000 - $500,000
= - $30000
Therefore, the overhead variance for the year is $ 30000 and is Favorable/overapplied.
Answer:
5 servings of fries and 2 burgers
Explanation:
The optimal solution to the maximization problem of a consumer is equivalent to the ratio of marginal utilities of goods and it is also equal to the price ratio of the goods. Mathematically:
The burgers and fries marginal utilities are 
and 
respectively while their prices are 
and 
respectively. Thus,
Further simplification:
F/B = 5/2 ; F = 2.5B
Using Antonio's budget income,
B = income/ - ( / )*F
If we use the values in the problem, we have:
B = 20/5 - (2/5)*F = 4 - 0.4F
if we substitute F = 2.5B
B = 4 - 0.4*2.5B
B = 4 - B
B = 4/2 = 2
F =2.5B = 2.5*B = 2.5*2 = 5
Thus, given the budget constraint of Antonio, he can maximize his utility by eating 5 servings of fries and 2 burgers.
Answer:
$297,000
Explanation:
In this question, we use the ending retained earning equation which is shown below:
Ending retained earning balance = Beginning retained earning balance + net income - dividends paid
$2,499,000 = $2,242,000 + net income - $40,000
$2,499,000 = $2,202,000 + net income
So, the net income = $2,499,000 - $2,202,000
= $297,000
There is no use of the common shares issued in the computation part
