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dexar [7]
2 years ago
6

Warp Manufacturing Corporation uses a standard cost system to collect costs related to the production of its ski lift chairs. Wa

rp uses machine hours as an overhead base. The variable overhead standards for each chair are 1.2 machine hours at a standard cost of $18 per hour. During the month of September, Warp incurred 34,000 machine hours in the production of 32,000 ski lift chairs. The total variable overhead cost was $649,400. What is Warp's variable overhead spending variance for the month of September?
a. $37,400 unfavorable
b. $41,800 favorable
c. $79,200 Favorable
d. $84,040 favorable
Business
1 answer:
Flura [38]2 years ago
7 0

Answer:

A. $37,400 unfavorable

Explanation:

With regards to the above, variable overhead spending variance is computed as

= (Actual hours × Actual rate) - (Actual hours × standard rate)

= $649,400 - ( 34,000 × $18)

= $649,400 - $612,000

= $37,400 unfavorable

Therefore, Warp's variable overhead spending variance for the month of September is $37,400 unfavorable

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The balance sheet of Cattleman's Steakhouse shows assets of $85,900 and liabilities of $13,500. The fair value of the assets is
cestrela7 [59]

Answer:

$7,120

Explanation:

Given that,

Assets = $85,900

Liabilities = $13,500

Fair value of assets = $90,500

Fair value of its liabilities = $13,500

Amount paid to acquire all of its assets and liabilities = $84,120

Net assets:

= Fair value of assets - Fair value of its liabilities

= $90,500 - $13,500

= $77,000

Goodwill = Purchase consideration - Net assets

               = $84,120 - $77,000

               = $7,120

8 0
3 years ago
Given a fixed supply of money and a downward sloping aggregate demand curve, an increase in money demand will ________ the price
Blizzard [7]

Money supply is the total amount of money in circulation which includes coins, cash and balance in savings account in a country at a period of time.

  • Given a fixed supply of money and a downward sloping aggregate demand curve, an increase in money demand will <u>not change</u> the price paid for its use, otherwise known as the <u>discount rate.</u>

  • A change the money supply in a country causes a change in aggregate demand.

  • An increase in the money supply causes increase in aggregate demand and a decrease in the money supply causes decrease in aggregate demand.

Therefore, an increase in money demand will not change the price paid for its use, otherwise known as the discount rate.

Read more:

brainly.com/question/12225192

8 0
3 years ago
In the equation of exchange, M x V = P x Q, the P represents ___________________.
Bogdan [553]

Answer:

P in the equation represents Price level

Explanation:

The equation above is referred to as the equation of exchange.

M = money supply, V= velocity of money, P= price level and Q= real output (real GDP)

P × Q gives the nominal GDP while M×V is the effective money supply.

The total value of goods and services available in the economy (represented by the nominal GDP) is equals to the total amount of money available to purchase them (the effective money supply.

The velocity of money is the rate at which money been is used or spent for transaction purposes in the economy. It is assumed to be constant.

For example, If there exist only a $1000 note in the economy, this amount just needs to be spent once to purchase a total nominal GDP of $1000. However, if there exist just one $500 note, then it means the $500 will need to be spent 2 times to purchase the total value of goods worth $1000. The 2 is the velocity of money

This equation is also used to explain the concept of the quantity theory of money.

The theory states that if an economy is operating at the full employment level, an increase in money supply will not impact the real GDP rather it will drive up the price level up. This idea forms the basis of the position of some economists that money supply drives inflation

The assumptions of the theory are as follows:

The velocity of money is constant

The the economy is at the full employment output. This implies that the economy is using all of its productive resources efficiently

3 0
3 years ago
What is one medical use for x-rays​
MakcuM [25]

Answer:

X-rays can be used to see what areas of a bone a broken or injured. It helps understand what parts of the body may have injuries.

Hope this helps.

6 0
3 years ago
which organization issues auditing standards, carries out inspections of public accounting firms auditing us public clients, and
Butoxors [25]

The Public Company Accounting Oversight Board (PCAOB) issues auditing standards, carries out inspections of public accounting firms auditing public clients, and imposes sanctions.

<h3>What are sanctions?</h3>
  • Economic sanctions are financial and commercial penalties imposed by one or more nations against a particular self-governing state, group, or person.
  • Economic sanctions may be used for a number of political, military, and social reasons in addition to difficult economic conditions.
<h3> What is The Public Company Accounting Oversight Board (PCAOB)?</h3>
  • The Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board (PCAOB), a nonprofit organization, to supervise the audits of public companies and other issuers in order to safeguard investor interests and advance the public interest in the creation of informative, accurate, and independent audit reports.
  • In order to protect investors, the PCAOB also controls the audits of broker-dealers, including compliance reports submitted in accordance with federal securities laws.
  • The U.S. Securities and Exchange Commission must approve all PCAOB regulations and standards (SEC).

Therefore, the Public Company Accounting Oversight Board (PCAOB) issues auditing standards, carries out inspections of public accounting firms auditing public clients, and imposes sanctions.

Know more about nonprofit organizations here:

brainly.com/question/26476622

#SPJ4

7 0
2 years ago
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