Answer:
$38,750 Favorable
Explanation:
Fixed overhead absorption rate:
= Fixed Overhead Costs for March (static budget) ÷ Production(static budget)
= $387,500 ÷ 31,000
= 12.5 per unit
Fixed overhead production−volume variance:
= Amount actually applied - Amount budgeted
= (12.5 × 34,100) - $387,500
= $426,250 - $387,500
= $38,750 Favorable
Answer:
(D) decrease revenues and decrease assets
Explanation:
Since the revenue is unearned, its entry in the books needs to be reversed.
When a revenue was recorded in the books, the like journal entry would have been.
Debit Cash/Bank/Receivables Account (thus increasing asset)
Credit Revenue Account (thus increasing revenue)
There, reversing the entry will involve decreasing revenue and decreasing asset.
Answer: banks statements and break down of property structures.
Depository institutions---is a financial institution (such as a savings bank, commercial bank, savings and loan association, or credit union) that is legally allowed to accept monetary deposits from consumers.It contribute to the economy by lending much of the money saved by depositors.
financial non depository institutions are financial intermediaries that do not accept deposits but do pool the payments of many people in the form of premiums or contributions and either invest it or provide credit to others. Hence, nondepository institutions form an important part of the economy. These institutions receive the public's money because they offer other services than just the payment of interest. They can spread the financial risk of individuals over a large group, or provide investment services for greater returns or for a future income.
Nondepository institutions include insurance companies, pension funds, securities firms, government-sponsored enterprises, and finance companies. There are also smaller nondepository institutions, such as pawnshops and venture capital firms, but they constitute a much smaller portion of sources of funds for the economy
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Answer:
$2,730
Explanation:
The computation of the Cost of Goods Sold is shown below:-
Cost of goods sold = Purchase × Each Unit + (Sold units - Each unit) × Purchase units
= 120 units × $20 + 110 units × $30
= $2,400 + $330
= $2,730
Therefore we have calculated the cost of goods sold from First in the first-out method by applying the above formula.
