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svlad2 [7]
2 years ago
10

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: Multiple Choice $10,400 negative. $10,400 positive. $11,000 negative. $11,000 positive. None of the answers is correct.
Business
1 answer:
FinnZ [79.3K]2 years ago
4 0

Answer:

$11,000 unfavorable

Explanation:

Calculation to determine the company's fixed-overhead volume variance would be:

Actual fixed overhead incurred ($791,000)

Less Budgeted fixed overhead ($780,000)

Fixed-overhead volume variance $11,000 unfavorable

Therefore the company's fixed-overhead volume variance would be: $11,000 unfavorable

You might be interested in
. Based on the following data, Accounts payable…………………………………………………..... $62,000 Accounts receivable…………………………………………………. 100,000
Temka [501]

Answer:  $428,000

Explanation:

Given that,

Accounts payable = $62,000

Accounts receivable = 100,000

Cash = 30,000

Inventory = 138,000

Land = 160,000

Common Stock = 200,000

Revenue = 80,000

Dividends = 56,000

Expenses = 40,000

Total assets = Accounts receivable + Cash + Inventory + Land

                     = 100,000 + 30,000 +  138,000 + 160,000

                     = $428,000

3 0
3 years ago
Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March Marc
san4es73 [151]

Answer:

1. Prepare general journal entries to record these transactions using the following titles:

March 1

Dr Cash (101) 175,000

Dr Office Equipment (163) 26,000

    Cr Common Stock (307) 201,000

March 2

Dr Prepaid Rent (131) 6,000

    Cr Cash (101) 6,000

March 3

Dr Office Equipment (163) 3,800

Dr Office Supplies (124) 2,200

    Cr Accounts Payable (201) 6,000

March 6

Dr Cash (101) 4,500

    Cr Services Revenue (403) 4,500

March 9

Dr Accounts Receivable (106) 10,900

    Cr Services Revenue (403) 10,900

March 12

Dr Accounts Payable (201) 6,000

    Cr Cash (101) 6,000

March 19

Dr Prepaid Insurance (128) 6,400

    Cr Cash (101) 6,400

March 22

Dr Cash (101) 4,000

    Cr Accounts Receivable (106) 4,000

March 25

Dr Accounts Receivable (106) 5,330

    Cr Services Revenue (403) 5,330

March 29

Dr Dividends (319) 5,400

    Cr Cash (101) 5,400

March 30

Dr Office Supplies (124) 1,700

    Cr Accounts Payable (201) 1,700

March 31

Dr Utilities Expense (690) 1,400

    Cr Cash (101) 1,400

2. Post the journal entries from part 1 to the ledger accounts.

Account      Description                                  Debit         Credit

101               Cash                                           175,000

                                                                                           6,000

                                                                          4,500

                                                                                           6,000

                                                                                           6,400

                                                                          4,000

                                                                                           5,400

<u>                                                                                             1,400  </u>

101               Cash                                           158,300

106              Accounts Receivable                 10,900        

                                                                                           4,000

<u>                                                                          5,330                     </u>

106              Accounts Receivable                 12,330

124              Office Supplies                            2,200

<u>                                                                          1,700                        </u>

124              Office Supplies                            3,900

128              Prepaid Insurance                       6,400

131               Prepaid Rent                                 6,000

163              Office Equipment                        26,000

<u>                                                                            3,800                      </u>

163              Office Equipment                        29,800

201              Accounts Payable                                              6,000

                                                                           6,000

<u>                                                                                                 1,700    </u>

201              Accounts Payable                                               1,700

307             Common Stock                                               201,000

319              Dividends                                       5,400

403             Services Revenue                                              4,500

                                                                                              10,900

<u>                                                                                                 5,330    </u>

403             Services Revenue                                             20,730

690             Utilities Expense                            1,400

3. Prepare a trial balance as of April 30.

Account      Description                                  Debit         Credit

101               Cash                                           158,300

106              Accounts Receivable                  10,900        

106              Accounts Receivable                  12,330

124              Office Supplies                             3,900

128              Prepaid Insurance                        6,400

131               Prepaid Rent                                 6,000

163              Office Equipment                        29,800

201              Accounts Payable                                               1,700

307             Common Stock                                               201,000

319              Dividends                                       5,400

                   Retained earnings                                             11,000

403             Services Revenue                                             20,730

690             Utilities Expense                            1,400

<u>                                                                                                                 </u>                

TOTAL                                                           234,430       234,430                                              

6 0
3 years ago
Business combinations historically have been accounted for as either purchases or poolings of interests. Now, with SFAS 141(R),
lora16 [44]

Answer:

Explanation:

FASB amended the rules to improve the comparability of the information about business combinations provided in financial reports. A variable interest entity is a legal business.

The Financial Accounting Standards Board issued SFAS 141(R) in 2007 December, to substitute the SFAS 141. Evaluating the comment letters, articles and industry publications, they analyzed issues that were with SFAS 141 from the perspective of professionals, users and the FASB; it was evaluated 141(R) to ascertain these weaknesses and they were corrected with solutions been profound in 141(R).

8 0
2 years ago
Two-year-old Max sees a rabbit and calls it a "bunny." He then sees a large white hamster and calls it a "bunny," too. In this s
Olegator [25]

Answer:

The correct answer is overextension.

Explanation:

In the context of language acquisition, it refers to the erroneous over-generalization in the use of a word; that is, to the error that consists in extending the application of words to entities or objects not included in the concept or category of reference, even if they share certain characteristics. For example, the word "dog" is used to correctly designate dogs; but it is also used in reference to any other animal with "four legs."

7 0
3 years ago
A linear production possibilities curve indicates which of the following?
lilavasa [31]

Answer:

I think ur answers are A, B, and C.

Explanation:

Hope this helps!

6 0
2 years ago
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