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stealth61 [152]
2 years ago
10

MC Qu. 97 The standard materials cost to produce... The standard materials cost to produce 1 unit of Product R is 7 pounds of ma

terial at a standard price of $47 per pound. In manufacturing 6,000 units, 41,000 pounds of material were used at a cost of $48 per pound. What is the total direct materials cost variance
Business
1 answer:
OleMash [197]2 years ago
4 0

Answer:

total direct materials cost variance is $6,000 Favourable

Explanation:

first we get here Standard cost to manufacture

Standard cost to manufacture 6,000 units is = 7 × $47 × 6,000

Standard cost = $1,974,000

and

now we get here Actual cost to manufacturing

Actual cost to manufacturing 6,000 units is = 41,000 × $48

Actual cost = $1,968,000

and

now we get here Direct material cost variance that is express as

Direct material cost variance = Standard cost - Actual cost         ..........1

put here value

Direct material cost variance = $1,974,000 - $1,968,000

Direct material cost variance = $6,000 Favourable

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June 1 Stockholders invested $21,800 cash in the business in exchange for common stock. 2 Purchased a used van for deliveries fo
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Answer:

June 1st

Cash   21,800 debit

  Common Stock  21,800 credit

June 2nd

Van-automobile 14,200 debit

             Cash          4,000 credit

            Note payable 10,200 credit

June 3rd

Rent expense 400 debit

           Cash              400 credit

June 5th

Accounts receivables 5,200 debit

             Sales Revenue    5,200 credit

June 9th

Dividends    300 debit

           Cash          300 credit

June 12th

Supplies 200 debit

       Accounts Payable  200 credit

June 15th

Cash  1,400 debit

     Accounts receivables 1,400

June 17th

Gasoline expense 200 debit

      Accounts Payable     200 credit

June 20th

Cash      1,300 debit

  Service Revenue   1,300 credit

June 23th

Note payable   600 debit

           Cash              600 credit

June 26th

utilities expense 350 debit

              cash                350 credit

June 29th

accounts payable 200 debit

          cash                     200 credit

June 30th

salaries expense 1,730 debit

                   cash             1,730 credit

Explanation:

Rules to perform journal entries:

credit = debit

also there should be at lease one account on debit and one in credit.

We must also remember that debits must be enter first.

Also, each acount must represent a single event or stuff. It cannot represent both stuff.

7 0
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A bank is being told that their loan portfolio is too risky. Which is the best action the bank can take to correct this situatio
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Explanation:

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3 years ago
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The terms "organizations" and "institutions" can be used interchangeably, but according to Jack Knight, organizations are either a more condensed version of institutions or a group of institutions; the two are different in that organizations comprise internal institutions (that govern interactions between the members of the organizations).

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8 0
11 months ago
You are considering a stock investment in one of two firms (NoEquity, Inc., and NoDebt, Inc.), both of which operate in the same
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Answer:

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NoDebt $22.75million

B. NoEquity 28.11%

NoDebt 35%

Explanation:

A. Calculation to determine the net income

NoEquity Inc., NoDebt Inc.,

Operating income $32.5 million $32.5 million

Less: Interest $6.4 million $0

($64m × 0.1)

Taxable income $ 26.10million $32.5 million

Less: Taxes (30%) ($7.83million) ($9.75million)

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Therefore The Net income for the two firms are :

NoEquity $18.27million

NoDebt $22.75million

B. Calculation to determine the Return on assets

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Return on assets =28.11%

NoDebt

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Return on assets =0.35*100

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He quickly signed the agreements after taking office.

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Answer:He pulled the United States out of these negotiations.

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President Trump also pulled out if the Transatlantic Trade and Investment Partnership which was a trade agreement between the United States of America and Europe.

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