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sergejj [24]
3 years ago
13

Approach Company, which applies overhead to production on the basis of machine hours, reported the following data for the period

just ended: Actual units produced: 14,800 Actual fixed overhead incurred: $791,000 Standard fixed overhead rate: $13 per hour Budgeted fixed overhead: $780,000 Planned level of machine-hour activity: 60,000 If Approach estimates four hours to manufacture a completed unit, the company's fixed-overhead volume variance would be:
Business
1 answer:
Aliun [14]3 years ago
6 0

Answer: 10400 unfavorable

Explanation:

Firstly, we should note that the fixed overhead volume variance is the difference between the standard fixed overhead for actual output and the budgeted fixed overhead.

Budgeted fixed overhead = 780000

The standard fixed overhead for the actual output will be:

= Actual output × Number of hour per unit × the standard fixed overhead rate

= 14800 × 4 × 13

= 769,600

Then, the fixed overhead volume variance will be:

= 769600 - 780000

= 10400 Unfavorable

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The ABC Corporation is considering introducing a new product, which will require buying new equipment for a monthly payment of $
scZoUnD [109]

Answer:

5500 units per month must be sold to earn the required profit

Explanation:

The target profit is the amount of profit that a business wants to earn. To calculate the target profit, we can use the break even analysis and include the factor for target profit under its formula and calculate the units and the dollar sales needed to earn the target profit.

In this case, the target profit is $50000 per month.

The break even in units = Fixed cost / contribution margin per unit

Contribution margin per unit = selling price per unit - variable cost per unit

To calculate units required for target profit, we will add the target profit to the fixed cost and divide by the contribution margin per unit

Target profit units = (fixed cost + target profit) / Contribution margin per unit

So,

Contribution margin per unit = 20 - 10 = $10 per unit

Target profit units = (5000 + 50000) / 10

Target profit units = 5500 units per month

7 0
3 years ago
The accounting process of ensuring accuracy and completeness includes Journalizing transactions timely using ledgers and journal
avanturin [10]

Answer:

The accounting process of ensuring accuracy and completeness includes Journalizing transactions timely using ledgers and journals, closing entries, create a trial balance, make adjusting entries, create adjusting trial balance and prepare the four basic financial statements (balance sheet, income statement, changes in net assets/equity and cash flows). Note, adjusting entries are not necessary but reversals are a must in this process. This statement is:________.

A. True

7 0
3 years ago
Read 2 more answers
Which of the following is NOT an advantage of paying bills online?
MrRissso [65]

Answer: you will only receive a record of your payment if you pay bills online

Explanation:

3 0
2 years ago
BioGrow Pharma Inc. wanted its research partner, an R&D company, to develop a cancer vaccine. However, the project required
grigory [225]

Answer: credible commitment

Explanation:

From the question, we are informed that BioGrow Pharma Inc. wanted its research partner, an R&D company, to develop a cancer vaccine but that the project required huge capital investments, and its research partner was not ready to solely face the risks involved.

Therefore, to gain its partner's confidence and to prove its involvement, BioGrow Pharma invested $100 million in the project. This investment made by BioGrow Pharma will result in a credible commitment.

4 0
3 years ago
On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $48,000 and
Sloan [31]

Answer:

Bad debt expense for 2022 would be $4,225

Explanation:

Bad debt expense is the expense incurred by a company when a debtor of the company is unable to fulfuill their obligation to the company.

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4 0
3 years ago
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