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-BARSIC- [3]
2 years ago
13

A company's master budget for October is to manufacture and sell 30,000 units for a total sales revenue of $270,000, total varia

ble costs of $180,000, and total fixed costs of $24,000. The company actually manufactured and sold 32,000 units and generated $45,000 of operating income in October. The flexible-budget operating income in October was:
Business
1 answer:
Feliz [49]2 years ago
5 0

Answer:

$72,000

Explanation:

The Starting point for flexing a Budget  is to determine the Standard unit Selling Price and unit Cost Prices, then apply the amounts to the actual activity/production as shown below ;

<u>Flexible-budget for the month of October</u>

Sales ($270,000/30,000 x  32,000)                               $288,000

Less Variable Costs ($180,000/30,000 x  32,000)       ($192,000)

Contribution                                                                        $96,000

Less Fixed Costs                                                               ($24,000)

Operating Income                                                               $72,000

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Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a LIFO basis
Pani-rosa [81]

The amount allocated to ending inventory is $3664.

LIFO is an inventory method that means last in, first out. It means that it is assumed that the latest inventory that is sold, is the first to be sold. Ending inventory is made up of inventory that is purchased eelier.

  • Total inventory sold = 40 + 26 = 68 units
  • Sum of total inventory bought and beginning inventory = 10 + 60 + 30 = 100
  • Ending inventory = 100 - 68 = 32
  • Value of ending inventory = (22 x $112) + (10 x $120)

$2464 + $1200 = $3664

Please find attached the image used in answering this question. A similar question was answered here: ttps://brainly.com/question/13763849

5 0
2 years ago
Abbott Inc. owns 30% of the outstanding voting shares of Berta Inc. On the date of acquisition, the fair value of Berta's equipm
Vitek1552 [10]

Answer: During the year after the acquisition, the undervalued equipment will exceed Abbott's investment revenue by $1,200.

Explanation:

Multiply the amount exceeded of its carrying value by the % shares owned by Abbott.

Then divide the result by the useful life value of Barta's equipments

= (20,000 x 30%) / 5

= $1,200

3 0
3 years ago
I want to take a survey of students at my university to find out what proportion like the new bus service on campus. how many wi
laiz [17]

Answer:

N = 3,120 (Approx)

Explanation:

Given:

z- score for 99% confidence = 2.58

Proportion (P) = 75% = 75 / 100 = 0.75

E = 2% = 0.02

Q = 1 - P = 1 - 0.75 = 0.25

Computation:

N = (Z/E)^2 \times pq

N = (2.58/0.02)^2 \times (0.75 \ times 0.25)

N = (129)^2 \times (0.1875)

N = (16,641) \times (0.1875)

N = 3,120.1875

Therefore, N = 3,120 (Approx).

5 0
3 years ago
The discount rate is the: multiple choice 1 interest rate at which banks can borrow reserves from other banks. lowest interest r
Reil [10]

Answer:

a. The discount rate is the

  • interest rate at which banks can borrow reserves from the Federal Reserve.

The discount rate is the interest rate that the FED charges commercial banks, credit unions, or other financial institutions for lending them money.

b. If the Fed were to decrease the discount rate, banks will borrow

  • more reserves, causing an increase in lending and the money supply.

Lowering the discount rate is considered part of an expansionary monetary policy since banks will borrow more money and lend more money to the public, increasing the money supply.

7 0
3 years ago
Read 2 more answers
Mountain High Ice Cream Company transferred $65,000 of accounts receivable to the Prudential Bank. The transfer was made with re
Liono4ka [1.6K]

Answer:

Dr Cash 56,550

Dr Receivable from factor 5,500

Dr Loss on sale of receivables 6,450

    Cr Accounts receivables 65,000

    Cr Recourse liability 3,500

Explanation:

cash = ($65,000 x 90%) - factoring fees = $58,500 - $1,950 = $56,550

factoring fees = $65,000 x 3% = $1,950

loss on sale of receivables (includes factoring fees) = (accounts receivables + recourse liability) - (cash + receivable from factor) =  ($65,000 + $3,500) - ($56,550 + $5,500) = $68,500 - $62,050 = $6,450

3 0
3 years ago
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