Answer:
$429.60 Favorable
Explanation:
Provided information,
Standard Hours for each product = 3 hours
Standard Cost per hour = $14.00
Actual hours used = 198
Actual output = 80 connectors
Standard hours for actual output = 80
3 = 240 hours
Actual Rate = $14.80 per hour
Direct labor cost variance = Standard Cost - Actual Cost
Standard Cost = Standard hours
Standard Rae
= 240
$14 = $3,360
Actual Cost = 198
$14.80 = $2,930.40
Variance = $3,360 - $2,930.40 = $429.60
Since actual cost is less than standard variance is favorable.
$429.60 Favorable
Answer:
The cash budget is the appropriate answer
Explanation:
When the budgeted direct materials as well as the required budgeted labor hours are ascertained, the step needs to be taken further in order to know how the costs budgeted fit into overall cash situation of the business.
The suppliers of direct materials would have given the company the maximum number of days that expect cash , in order to meet up with such deadline the company must plan ahead by incorporating the values of such purchases into cash flow projections, the same also applies to cost of direct labor.
Answer:
The IPO Process
One of the underwriters in the IPO deal described above is.
a. J.P. Morgan Securities Inc.
Explanation:
J.P. Morgan Securities Inc. and the following underwriters, Goldman Sachs & Co., Bear Stearns & Co. Inc., Credit Suisse First Corporation, and Lehman Brothers Inc. was involved in the Initial Public Offering (IPO) in 1999, where $3.6 billion was raised in the United States and Canada. An underwriter is a financial specialist, working closely with the issuing houses to determine the initial offering price of the securities. The underwriters usually buy the securities from the issuer and then sell them to investors using its distribution network.
Answer:
3. Rental costs of $5,000 per month plus $.30 per machine hour of use
Explanation:
Mixed cost is the one which has both the factors, variable and fixed.
Sometimes, the segregation is also difficult, when the total cost is given.
In the chosen option also, there is a fixed cost involved that is monthly expense of $5,000.
Further for each hour of machine used the cost increases and is $0.30 per hour.
That is variable as the total will depend upon the number of hours the machine is used.
All the other three are either completely fixed like salary, and depreciation, or either completely variable like electricity cost.
Answer:
The journal entries to record both transactions should be:
February 1, 2018, repurchase of 1,000 stocks at $47
Dr Treasury stocks 47,000
Cr Cash 47,000
April 10, 2019, treasury stocks were sold at $50
Dr Cash 50,000
Cr Treasury stocks 47,000
Cr Additional paid in capital 3,000
Treasury stocks account is a contra equity account with a debit balance that reduces the value of total stockholders' equity.