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4 years ago

Direct materials, direct labor, and factory overhead cost variance analysis

Business

1 answer:

vova2212 [387]4 years ago

4 0

Answer:

. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Explanation:

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Tom Industries has a plant capacity of 70,000 units and current production is 55,000 units. At this production volume the vari

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Answer:

Accepting the special order will reduce Toms operating income by $50,000

Explanation:

See attached file

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4 years ago

Read 2 more answers

Scenario 34-2. The following facts apply to a small, imaginary economy.• Consumption spending is $6,720 when income is $8,000. •

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A stock-market boom stimulates consumer spending by $550, and there is a small operative crowding-out effect.

Option A

Explanation: 

Increasing consumption, i.e. further consumer spending, will result in increased overall demand for goods and services. Therefore, if spending decreases, i.e. if interest rates decline, demand will increase with development in technologies and increase output. And demand is going to rise.

The rate of interest is falling, resulting in a higher real balance for the economy. This boosts aggregate demand, which improves revenue and spending efficiency. Often, the demand curve will change left if the money supply declines.

Effect of increasing public spending, Increased government budgets are likely to increase total demand (AD).

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4 years ago

Which one of the following is a working capital management decision? Select one: a. What type(s) of equipment is (are) needed to

photoshop1234 [79]

Answer:

b. Should the firm pay cash for a purchase or use the credit offered by the supplier?

Explanation:

Working capital decision is the decision which includes the cash, Account receivable, Account payable, the portion of debt payable within one year. Decision related to supplier is actually related to account payable. so this is the working capital decision. Other decision involves fixed assets, long term debt, investments and projects under consideration.

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3 years ago

At February 1, 2022, the balance in Bonita Industries supplies account was $3080. During February Bonita purchased supplies of $

ICE Princess25 [194]

Answer:

Balance of Suppliers Account is $2200 debit

Explanation:

It is important to know that the Supplies Account increases on the debit side and decreases on the credit side.

On 1 February the account was $ 3080 and this was a debit since it was an existing balance.

Purchase during the year by Bonita Industries increased the Supplies Account. A debit entry of $2640 must be recorded.

Used supplies during the year decrease the Supplies Account. A credit entry of $3520 must be made

There for the balance left $2200(3080+2640-3520) is still on the increase side (debit).Hence the answer $2200 debit is correct.

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4 years ago

Jeters Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 120 $5

HACTEHA [7]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

June 1:

Inventory: 120 units for $5= $600

June 12:

Purchase: 370units for $6= $2,220

June 23:

Purchase: 200 units for $7= $1,400

June 30:

Ending Inventory 230 units

Units sold= 460

Under FIFO method, the first units-in are the first to go out. Therefore, the ending inventory has the value of the last units purchased.

Inventory= 200*7 + 30*6= $1,580

COGS= 120*5 + 340*6= $2,640

Under LIFO method, the lasts units-in are the first out.

Inventory= 120*5 + 110*6= $1,260

COGS= 260*6 + 200*7= $2,960

Under the average cost method, we calculate an average buying price and then calculate the ending inventory and cost of goods sold:

Average price= (5 +6 +7)/3= 6

Inventory= 230*6= $1,380

COGS= 460*6= $2,760

The highest ending inventory is from FIFO method.

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3 years ago