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Vedmedyk [2.9K]
3 years ago
9

If the variable overhead efficiency variance is $500 unfavorable and the variable overhead spending variance is $100 favorable,

the journal entry will include a: (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply Debit to variable overhead efficiency varianceunanswered Credit to variable overhead efficiency varianceunanswered Debit to variable overhead spending varianceunanswered Credit to variable overhead spending variance
Business
1 answer:
RUDIKE [14]3 years ago
5 0

Answer:

Dr Variable overhead efficiency variance

Cr Variable overhead spending variance

Explanation:

Preparation the journal entry

Based on the information given in a situation where the variable overhead efficiency variance is unfavorable with the amount of $500 which means that that UNFAVORABLE VARIANCE will be DEBITED and if the variable overhead spending variance is favorable with the amount of $100 which means that the FAVOURABLE VARIANCE will be CREDITED and below is the way the journal entry will be:

Dr Work in process inventory

Dr Variable overhead efficiency variance (UNFAVORABLE)

Cr Factory overhead

Cr Variable overhead spending variance (FAVORABLE)

Therefore the journal entry will include a:

Dr Variable overhead efficiency variance (UNFAVORABLE)

Cr Variable overhead spending variance(FAVORABLE)

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Devin Company has the following data for their budget and actual performance. Actual Master budget Master Budget Variance Sales
snow_tiger [21]

Answer:

The operating income master budget variance 6687      Unfav

Explanation:

Devin Company

Actual Vs. Budget Performance Report

For the year

                              Actual          Master       Master Budget  

                          Performance   budget         Variance

Sales                   150,298         155,842            5544    Unfavorable

Variable Costs     65,548          63,937             1611      Unfav

Fixed Costs         12,007           12,475              468       Fav

Operating Income 72743          79430             6687      Unfav

 

The operating income master budget variance is unfavorable because actual operating income is less than the budget operating income .

When the actual sales revenue is less than the budgeted revenues the variance is unfavorable.

When the actual costs are more than the budgeted costs the variance is unfavorable, and favorable when the actual costs are less than the budgeted costs.

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A growing trend to "Buy American" may encourage U.S. automakers to increase political pressure on Washington to pass legislation
Kazeer [188]

Answer:

C) a positive result from regulatory and economic environmental forces.

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In the short run the whole economy will benefit, more American jobs will be created, consumers will probably get good cars at even lower prices, but on the long run the scenario may not be that good for everyone. If Toyota builds the plant, it will be the result of economic and political pressures, and that is a game that two can play, just ask farmers about the trade deal with China.

On the other hand, this is a type of deja vu (or been there, done that), and it ended up with GM and Chrysler bankrupt and Ford barely surviving. This types of policies were enforced in the 1980s by president Reagan and the famous "Made in the USA" by Bruce Springsteen. Back then Honda had a small factory and Toyota was starting to consider building a plant in the US, Nissan hadn't showed up yet. Fast forward a few years and the only good American vehicles are pickups, the Japanese brands wiped out the rest. The country is full of Camrys, Accords, Civics, Corollas, CRVs and Rav4s. They are great cars, too great for the American car manufacturers to compete against. Who knows, with this type of policies maybe in 10 years the only American car manufacturer left will be Tesla.

This is like playing with fire on top of a fuel truck.

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