Wildhorse, Inc. had net sales in 2020 of $1,502,400. At December 31, 2020, before adjusting entries, the balances in selected ac
1 answer:
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The returns of a capital amount to a compensation rate for depositing the money, to calculate these returns an interest rate is used by which the deposited capital is multiplied, in this case the rate is 4%.
As the money distributed is only the product of interest, then that money is the result of multiplying the capital by the interest rate, to obtain how much money Mr. Jefferson contributed, the reverse process will have to be done.
Answers
let <em>C</em> be the capital, then :
The capital contributed by Mr. Jefferson was <em>$4,262,500</em>
Answer:
The correct answer is:
(a) -7783
(b) 6800
(c) -983
Explanation:
According to the given values in the question:
(a)
The price variance will be:
=
=
= (Favorable)
(b)
The quantity variance will be:
=
=
=
= (Unfavorable)
(c)
The cost variance will be:
=
=
= (Favorable)