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marta [7]
3 years ago
5

A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (20,000 units)

: Direct materials $180,000 Direct labor 240,000 Variable factory overhead 280,000 Operating expenses: Variable operating expenses $130,000 Fixed operating expenses 50,000 180,000 If 1,600 units remain unsold at the end of the month, the amount of inventory that would be reported on the variable costing balance sheet is a.$66,400 b.$64,000 c.$78,400 d.$56,000
Business
1 answer:
mario62 [17]3 years ago
7 0

Answer:

d.$56,000

Explanation:

The computation of the amount of inventory that would be reported on the variable costing balance sheet is shown below:

But before that following calculations need to be done

The total production cost

= Direct material + direct labor + variable factory overhead

= $180,000 + $240,000 + $280,000

= $700,000

Now the production cost per unit is

= $700,000 ÷ 20,000 units

= $35 per unit

Now the amount of inventory is

= 1,600 units × $35 per unit

= $56,000

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Glenn Company purchased merchandise inventory with an invoice price of $9,000 and credit terms of 2/10, n/30. What is the net co
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Answer:

The correct answer is B

Explanation:

The net cost of goods is computed as if the paid in the discounting period:

Net Cost of goods = Inventory cost - (Inventory cost × Discounting percentage)

where

Inventory cost is $9,000

Discounting percentage is 2%

Putting the values above:

Net Cost of goods = $9,000 - ($9,000 × 2%)

Net Cost of goods = $9,000 - $180

Net Cost of goods = $8,280

Therefore, the amount of $8,280 will be paid by the company if paid within the discounting period and avail the discount of $180.

5 0
3 years ago
Camden Biotechnology began operations in September 2013. The following selected transactions relate to liabilities of the compan
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Answer:

Cash (Dr.) $12,000,000

Short term notes payable (Cr.) $12,000,000

Cash (Dr.) $2,600

Liability of refundable (Cr.) $2,600

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Bond Payable (Cr.) $10,000,000

Explanation:

<u>Liability Schedule 2013,</u>

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Total Current Liability $2,627,600

4 0
3 years ago
Corporate Fund started the year with a net asset value of $14.00. By year-end, its NAV equaled $13.20. The fund paid year-end di
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Answer:

What was the rate of return to an investor in the fund?

10%

Explanation:

To calculate the Rate of Return it's necessary to find the variation of the Net Assets Value during the year plus the distributions of income, the result of this it's divided by the Start of Year Net Asset Value.

Rate of Return  = (Var NAV + Distributions) / Start of Year NAV

Rate of Return  =

($13,2 - $14,0) = -$0,80

+ Distributions = $2,2 /

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Rate of Return  =  (-$0,80 + $ 2,2 ) / $14,0 = 10%

 

8 0
3 years ago
What does a money market account offer that a certificate of deposit (CD)
ruslelena [56]

Answer: A. You can withdraw money at any time.

Explanation:

4 0
3 years ago
Assuming a 360 day year, the interest charged by the bank at the rate of 6%, on a 90 day discounted note payable of 100,000 is:_
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Answer:B. $1,500

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Interest revenue is  money earned when an entity or individual  loans   money to another.  it can also be regarded as money accrued  from investments. IT is calculated as  

Interest Revenue = Principal x Rate x Time

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= $100,000 x 0.06 x 0.25

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4 0
3 years ago
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