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den301095 [7]
3 years ago
12

Elbert Company classifies its selling and administrative expense budget into variable and fixed components. Variable expenses ar

e expected to be $26,770 in the first quarter, and $5,240 increments are expected in the remaining quarters of 2020. Fixed expenses are expected to be $41,680 in each quarter. Prepare the selling and administrative expense budget by quarters and in total for 2020.
Business
1 answer:
weqwewe [10]3 years ago
3 0

Answer:

Results are below.

Explanation:

Giving the following information:

Variable expense= $26,770 ($5,240 increase each quarter)

Fixed expense= $41,680

<u>First, we will calculate the total cost per quarter:</u>

Q1= 26,770 + 41,680

Q1= $68,450

Q2= (26,770 + 5,240) + 41,680

Q2= $73,690

Q3= (32,010 + 5,240) + 41,680

Q3= $78,930

Q4= (37,250 + 5,240) + 41,680

Q4= $84,170

<u>Now, the total cost:</u>

Total annual cost= $305,240

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With a manual transmission, you "<span>use your right foot for the brake and accelerator and your left foot for the clutch". This is primarily to make sue that you don't press both the accelerator and the brake at the same time. </span>
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3 years ago
The ending inventory has 83,000 units, which are 100 percent complete for Department R costs. Required: a. Assume that Saline So
natima [27]

Answer:

Total unit cost                                   $8.80

Total Costs  Transferred out          $730,400  

Explanation:

In Process Costing we find the individual unit costs and total costs transferred by multiplying it with the equivalent no of units.

As the units are 100 percent complete the Equivalent units are 83,000 units for both materials and conversion.

Saline Solutions

Weighted-Average Process

Materials in Department S             $6.40

<u>Conversion costs Department S     $2.40</u>

<u>Total unit cost                                   $8.80</u>

Total No of units 83,000

<u>Total Costs           $8.80</u>

<u>Total Cost  Transferred Out         $730,400  </u>

<u />

Total Costs Transferred to Materials = $ 6.4 * 83,000=$ 531200

Total Costs Transferred to Conversion = $ 2.4 * 83,000=$ 199200

Total Costs Transferred= $ 531200+$ 199200= $ 730400

4 0
4 years ago
The following data were taken from the financial statements of The Amphlett Corporation, which is all equity financed. 2012 2013
Lerok [7]

Answer:

2012   -   2013

a. Return on equity    26,2%   -  25,0%

b. Return on assets    14,0%  -   14,3%

c. Return on sales        18,1%  -   18,5%

d. Total assets to shareholders' equity    1,88    -    1,75  

e. Asset turnover   0,77     -      0,77  

Explanation:

                          2012 2013

TOTAL ASSETS   $191.225   $212.440  

TOTAL EQUITY   $101.975   $121.165  

Income Statement         2012 2013

Sales                            $147.860  163.585  

Net Income after Taxes      $26.765  30.340  

8 0
3 years ago
Deflation occurs when A. there is a sustained increase in the price level. B. there is a decrease in the expected rate of inflat
Katen [24]

Answer:

D) there is a decline in the price level.

Explanation:

Inflation refers to an increase in the general price level of a country, while deflation is exactly the opposite. Deflation represents a decrease in the general price level of a country. They are both calculated the same way, only that inflation is much more "famous" and notorious since it happens very oftenly, while deflation is very rare.

But that doesn't mean that deflation is good, since it generally represents an economic decline or recession. A low inflation rate is a sign of a healthy economy because it shows that the economy is growing.

6 0
3 years ago
Read 2 more answers
Arizona Desert Homes (ADH) constructed a new subdivision during 2020 and 2021 under contract with Cactus Development Co. Relevan
ollegr [7]

Answer:

construction in progress 400,000

cost of construction 600,000

revenue from long-term contracts 1,000,000

Explanation:

To derive revenue for this year :we say Total revenue $3,000,000- Revenue previously recognized $2,000,000 =

Revenue to recognize this year $1,000,000.

Cost recognized for the year= $600,000(as opposed to $12000000 in costs last year)

Gross profit recognized for this year = $1,000,000 - $600,000 = $400,000

4 0
4 years ago
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