Answer:
See below
Explanation:
1. Predetermined overhead rate
= Total fixed overhead cost for the year / Budgeted standard direct labor hour
Predetermined overhead rate = $530,400 / 68,000
Predetermined overhead rate
= $7.8 per direct labor hour
2. i. Fixed overhead budget variance
= Actual fixed overhead - Budgeted fixed overhead
= $521,000 - $530,400
= $9,400 favourable
ii Fixed overhead volume variance
= Budgeter fixed overhead - Fixed overhead applied to work in process
= $530,400 - (66,000 × $7.8)
= $530,000 - $514,800
= $15,200 unfavorable
Answer:
Explanation:
The preparation of the statement of stockholders' equity at the end of the year is presented below:
Apex Systems Co.
Statement of stockholders' equity
For the fiscal year ended December 31, 2016
Particulars Common Stock
Beginning
Balance $1,340,000
Add: Net income $356,000
Less:
Bart Nesbit, Drawing -$91,200
Ending balance $1,604,800
Answer:
No of common stock outstanding
= <u>Total value of common stock issued</u>
Par value per share
= <u>$196,000</u>
$10
= 19,600 shares
Explanation:
In this case, we will divide the total value of common stock issued by the par value per share so as to obtain the number of common stock outstanding.
Answer:
Accrued revenues for the first year: $ 454.5
Explanation:
1,818 is the value of 36 months of subscriptions.
Therefore, the value of a month is $ 1,818 / 36 months = $ 50.5
Garcia will recognize revenue as time past, each month will accrue a month of earnings.
For the first year will accrued from April 1st to December31th
That is 9 months:
50.5 per month x 9 months = 454.5
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