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svp [43]
3 years ago
9

Mcdougald Corporation is a service company that measures its output by the number of customers served. The company has provided

the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for March. Fixed Element per Month Variable Element per Customer Actual Total for March Revenue $ 6,500 $ 169,700 Employee salaries and wages $ 58,400 $ 1,000 $ 83,200 Travel expenses $ 700 $ 18,600 Other expenses $ 41,500 $ 41,900 When the company prepared its planning budget at the beginning of March, it assumed that 21 customers would have been served. However, 26 customers were actually served during March. The spending variance for "Employee salaries and wages" for March would have been closest to____________.
Business
1 answer:
ANEK [815]3 years ago
6 0

Answer:

The spending variance for "Employee salaries and wages" for March would have been closest to $1,200F .

Explanation:

Customers served (q)

Employee salaries and wages ($58,400 + $1,000q)

The spending variance for "Employee salaries and wages" for March would have been closest to

         Actual Results      Flexible Budget     Revenue and Spending Variances

(q)          26                 26      

($58,400 + $1,000q) $ 83,200 $ 84,400    $1,200F

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In doing "aggregate planning" for a firm producing paint, the aggregate planners would most likely deal with:
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Answer:

The answer is option D) In doing "aggregate planning" for a firm producing paint, the aggregate planners would most likely deal with: all the different sizes and all the different colors by size.

Explanation:

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Aggregate planners develop, analyze, and draft an estimated schedule of the overall operations of an organization.

This estimated schedule contains targeted sales forecasts, production levels, inventory levels, and customer backlogs.

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3 years ago
Tom rented an apartment from margaret on a month-to-month basis, with rent due on the first of the month. this type of tenancy i
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False. 

This is a periodic tenancy because Tom, as the tenant, may rent the apartment for successive periods under his lease, despite being "month-to-month." A tenancy at will, however, allows either the landlord or the tenant to terminate the arrangement at any time because there is more flexibility in the arrangement.

One key difference is the issue of the tenant's notice to vacate the apartment. Under periodic tenancy, the law typically requires the tenant to give at least one period (here, one month) notice to the landlord of the tenant's wish to leave the property. No such notice requirement is typically found within a tenancy at will. 
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3 years ago
Deferral adjustments are needed when the business:_______
Mnenie [13.5K]

Answer: b. pays cash before the expense has been incurred.checked

d. receives cash before the revenue has been generated

Explanation:

Here is the complete question:

Deferral adjustments are needed when the business:

a. pays cash after the expense has been incurred.unchecked

b. pays cash before the expense has been incurred.checked

c. receives cash after the revenue has been generated.unchecked

d. receives cash before the revenue has been generated.

Adjustments are made during the end of every accounting period in order to report the revenues and the expenses in proper period at which they occur and also in order to report the assets and the liabilities at their appropriate amounts.

Deferral adjustment is when the revenue or the expense has been deferred or postponed and will therefore be reported on the income statement at a later period.

Previously deferred amounts will show on the balance sheet when a company pays cash before having to incur the expense or in a case whereby the company gets and collects cash before earning the revenue.

When revenues are made or when expenses are incurred, the previously deferred amounts will have to be adjusted and then, the amounts will be transferred to income statement through the use of the deferral adjustment.

5 0
3 years ago
Splish Brothers Inc. began operations on April 1 by issuing 52,300 shares of $5 par value common stock for cash at $15 per share
Ahat [919]

Answer:

Date    Account titles and Explanation               Debit        Credit

Apr 1    Cash                                                        $679,900

                  Common stock                                                    $261,500

                  (52,300*5)

                  Paid in common stock in excess of par             $418,400

                  (52,300*$13-$5)

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Apr 19   Organisation expenses                         $28,900

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            (To record issuance of comm1,100on stock for attorney.s fees)

Apr 19    Cash (1,100*$6)                                      $6,600

                  Preferred stock (1,100*$1)                                     $1,100

                  Paid in preferred capital in excess of par            $5,500

            (To record common preferred stock for cash)

7 0
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Answer:

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5 0
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