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Anni [7]
2 years ago
5

Lincoln Corporation used the following data to evaluate their current operating system. The company sells items for $15 each and

used a budgeted selling price of $15 per unit. Actual Budgeted Units sold 48,000 units 33,000 units Variable costs $165,000 $151,000 Fixed costs $43,000 $49,000 What is the static−budget variance of​ revenues?
Business
1 answer:
yaroslaw [1]2 years ago
5 0

Answer:

$225,000 F

Explanation:

Calculation for the static−budget variance of​ revenues

Using this formula

Static-budget variance of revenues=(Actual units sold*Actual selling price(-Budgeted units sold*budgeted selling price per units)

Let plug in the formula

Static-budget variance of revenues = (48,000 units × $15) - (33,000 units × $15)

Static-budget variance of revenues=$720,000-$495,000

Static-budget variance of revenues= $225,000 F

Therefore the the static−budget variance of​ revenues will be $225,000 F

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Provide the iupac name for this diethyldimethylhexane :
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Did you mean diethyl dimethyl hexane?
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Combatant commanders take strategic level guidance and develop their theater strategies, campaigns, and major operations at the
Bingel [31]
<span>At the tactical level of war the combatant commanders prepare all national instruments of power for war or conflict coordination the application of all instruments of national power with the actions of force. Principles and guidance also apply when needed.</span>
8 0
3 years ago
Which of the following is a fixed asset for a business?
stellarik [79]

Answer:

D. Motor lorry for delivery of goods​

Explanation:

Business assets are valuable used to generate revenue for the business. Assets can be classified as either current or fixed assets. Currents assets can be converted to cash with relative ease.

Fixed assets have a lifespan exceeding one year. Usually, a business will not dispose of its fixed assets in the current financial period. Fixed assets remain constant in a period and are used in the production process.

From the list provided, lorry is the fixed asset. It is being used to deliver goods, hence assisting in generating revenue. The lorry has a lifespan exceeding one year and is not meant for sale.

4 0
3 years ago
Latisha is shopping for a car and an auto loan to purchase the car. All of the following statements are true, except: If Latisha
laiz [17]

Answer:

If Latisha applies for credit at multiple auto lenders for the same amount within the same week, most credit scoring models will treat this as one credit application.

Explanation:

If you apply for multiple credits during the same week, each credit will be considered an independent credit application by the three credit agencies (Equifax, Experian, and TransUnion). Credit rating agencies have been around for several years, Equifax has been around since 1899, so they already know all the tricks that borrowers can even imagine. Probably several years ago before computers were extremely common, you could trick a credit rating agency by applying to several credits at the same time, but nowadays everything is online and connected, so you are wasting your time and hurting your credit record.

3 0
3 years ago
Vista Company installed a standard cost system on January 1. Selected transactions for the month of January are as follows. 1. P
Vika [28.1K]

Answer and Explanation:

The Journal entry is shown below :-

1. Raw Materials Inventory Dr, $46,540

  Materials Price Variance Dr, $3,580

                    To Accounts Payable $50,120

(Being accounts payable is recorded)

Working note

Materials price variance = (Actual price - Standard Price) × Actual Quantity

= ($2.80 - $2.60) × 17,900

= $3,580 Unfavorable

Raw Material = Actual Quantity × Standard Price

= 17,900 × $2.60

= $46,540

Accounts Payable = Actual Quantity × Actual price

= 17,900 × $2.80

= $50,120

2. Work in Process Inventory Dr, $45,552

    Materials Quantity Variance Dr, $988

                  To Raw Materials Inventory $46,540

(Being raw material inventory is recorded)

Working Note

Materials quantity variance = (Actual Quantity Used- Standard Quantity) × Standard Price

= (17,900 - 17,520) × $2.60

= $988 Unfavorable

Work in Process Inventory = Standard Quantity × Standard Price

= 17,520 × $2.60

= $45,552

Raw Material = Actual Quantity × Standard Price

= 17,900 × $2.60

= $46,540

3. Factory Labor Dr, $78,000

            To Labor Price Variance $6,000

             To Factory Wages Payable $72,000

(Being factory labor is recorded)

Working Note:-

Labor price variance = (Actual Rate - Standard Rate) × Actual Hour

= ($4.80 - $5.20) × 15,000

= $6,000 Favorable

Factory labor = Standard Rate × Actual Hour

= $5.20 × 15,000

= $78,000

Factory Wages Payable = Actual Rate × Actual Hour

= $4.80 × 15,000

= $72,000

4. Work in Process Inventory Dr, $79,040

            To Labor Quantity Variance $1,040

            To Factory Labor $78,000

(Being work in progress is recorded)

Working note

Labor Quantity variance = (Actual Hour - Standard Hour) × Standard Rate

= (15,000 - 15,200) × $5.20

= $1,040

Work in Process Inventory = Standard Hour × Standard Rate

= 15,200 × $5.20

= $79,040

Factory Labor = Actual Hour × Standard Rate

= 15,000 × $5.20

= $78,000

5. Work in Process Inventory Dr, $79,040

                To Manufacturing Overhead $79,040

(Being manufacturing overhead is recorded)

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