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2 years ago

15

Firms are organizations that A) take advantage of the public. B) transform resources into products. C) transform outputs into in

puts. D) demand consumer outputs

1 answer:

loris [4]2 years ago

7 0

Answer:

B

Explanation:

A firm is an organisation that is created to make profit. They transform resources into products

They include :

corporations
limited liabilities
partnerships

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g Novelli Corporation makes a product whose variable overhead standards are based on direct labor-hours. The quantity standard i

hram777 [196]

Answer:

Variable overhead efficiency variance= $110 favorable

Explanation:

Giving the following information:

The quantity standard is 1.4 hours per unit.

The variable overhead rate standard is $11.00 per hour.

The company produced 1,450 units using 2,020 direct labor-hours.

To calculate the variable overhead efficiency variance, we need to use the following formula:

Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate

standard quantity= 1.4*1,450= 2,030

Variable overhead efficiency variance= (2,030 - 2,020)*11

Variable overhead efficiency variance= $110 favorable

5 0

2 years ago

Elegance Bath Products, Inc. (EBP) makes a variety of ceramic sinks and tubs. EBP has just developed a line of sinks and tubs ma

Arlecino [84]

Answer:

C) 410 tubs

Explanation:

the contribution margin for sinks is $70 (= $150 - $80) and the contribution margin for tubs is $150 (= $600 - $450).

the molding equipment has 4,050 hours of capacity per year, so it can produce either 2,025 sinks or 810 tubs.

we can determine what product is more profitable if we determine a contribution margin per molding equipment usage ratio:

sink = $70 / 2 hours = $35 per hour
tub = $150 / 5 hours = $30 per hour

It is more profitable to produce sinks than tubs, but we can sell only 1,000 sinks per year, so even after we product the 1,000 sinks we will have spare molding equipment capacity which we can use to produce tubs.

The spare molding equipment capacity after producing sinks = 4,050 total hours - 2,000 hours used to produce sinks = 2,050 spare molding hours

We can produce 410 tubs (= 2,050 molding hours / 5 hours per tub)

7 0

3 years ago

Cheyenne Corp. reported net income of $196,100 for 2022. Cheyenne also reported depreciation expense of $47,400 and a loss of $5

denpristay [2]

Solution:

<u> Particulars </u> <u>Amount</u>

<u> Net Operating Income </u> $ 196,100

Adjustments to reconcile the net to :

Net Cash provided by the operating activities.

Add the depreciation expenses $ 47,400

Add loss on disposal of plant assets $ 5,600

Add increase in the accounts receivable $ 10,900

Add increase in Accounts payable $ 12,900

Add increases in prepaid expenses <u> $ 3,200 </u>

$ 80,000

Cash balance at the end $ 276,100

4 0

2 years ago

When I was considering what to do with my $10,000 lottery winnings, my broker suggested that I invest half of it in gold, the va

77julia77 [94]

Answer: $20,478.78

Explanation:

In 14 years the investment will be,

Gold

10,000/2 = 5000

Then use the compound interest formula

5000 * (1+0.07)^ 14 = $12,892.67

For Certificates of Deposits.

Use the Compound interest formula

Rate and period are in years. Convert to semi annual basis.

3%/ 2 = 1.5%

14 * 2 = 28 periods

= 5000 ( 1+ 0.015) ^ 28

= $7,586.11

Add both

=$12,892.67 + $7,586.11

= $20,478.78

5 0

3 years ago

Calculating the Predetermined Overhead Rate, Applying Overhead to Production, Reconciling Overhead at the End of the Year, Adjus

Usimov [2.4K]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Estimated:

Overhead $160,000

Direct labor hours 80,000

Han uses normal costing and applies overhead based on direct labor hours.

For January, direct labor hours were 8,150.

By the end of the year, Han showed the following actual amounts:

Overhead $166,000

Direct labor hours 79,600

Assume that the unadjusted Cost of Goods Sold for Han was $176,000.

1) Predetermined overhead rate= total estimated overhead for the period/ total amount of allocation base

Predetermined overhead rate=160000/80000= $2 per hour

2) Applied overhead (January)= Predetermined overhead rate*actual hours= 2*8150= $16,300

3) Applied overhead for the year= 2*79600= $159,200

Over/under applied= actual overhead - applied overhead= 166000 - 159200= 6800 underapplied

4) COGS= 176000

Underapplied overhead= 6800

COGS adjusted= $182,800

3 0

3 years ago