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grandymaker [24]
3 years ago
15

Value Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The c

ost formula for catering supplies is $500 per month plus $76 per job plus $14 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in June to be 17 jobs and 147 meals, but the actual activity was 13 jobs and 144 meals. The actual cost for catering supplies in June was $3,340. The catering supplies in the planning budget for June would be closest to:
Business
1 answer:
sertanlavr [38]3 years ago
6 0

Answer:

$3,504

Explanation:

Catering supplies = $500 + $76 x j + $14 x m

where,

j = number of jobs in a month

m = number of meals in a month

therefore,

Planning budget for June, use the Actual number of jobs and meals into the formula (Actual Activity).

June Catering supplies = $500 + $76 x 13+ $14 x 144

                                       =  $3,504

Conclusion

The catering supplies in the planning budget for June would be closest to $3,504.

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Answer:

$100 favorable

Explanation:

The computation of the material purchase price variance is shown below:

= Actual Quantity purchased × (Standard Price - Actual Price)

= 2,000 pounds × ($1.60 - $1.55)

=  2,000 pounds × $0.05

= $100 favorable

Simply we took the difference between the standard and the actual price, and then multiply it by the actual quantity purchased

6 0
3 years ago
The following information is available for Armstrong Company: Net income $450 Increase in plant and equip. $170 Depreciation exp
ad-work [718]

Answer:

$505

Explanation:

Armstrong Company

Cash flow from operating activities

Adjustments to reconcile net income to operating cash flow.

Net income

$450

Less : Increase in plant and equipment

($170)

Add : Depreciation expenses

$80

Add : Payment of dividends

$10

Add : Decrease in accounts receivable

$20

Add : Increase in long term debt

$100

Less : Increase in Inventories

($15)

Add : Decrease in Account payable $30

Net Cash flow from operating activities

$505

8 0
3 years ago
When a corporation sells all or substantially all of its assets to another corporation, generally,
Svetllana [295]

Answer:

a. a majority of both shareholders and directors must approve.

Explanation:

Whenever a corporation decides to dispose off all of it's assets or substantially all of it's assets to another corporation, following points are noteworthy

  • The Board of directors first have to propose a resolution regarding disposition which has to be approved
  • Secondly post approval of the said resolution, the act of "disposition" also requires approval by the corporation's shareholders.
  • Such approval must be obtained by majority of the votes cast in it's favor.

In short, disposition of all or substantially all the assets requires an approval of a majority of both shareholders and directors.

4 0
3 years ago
Kira loves Mexican food. She saw a new Mexican restaurant that had affordable prices. She went in to eat but had a bad experienc
Sergeu [11.5K]

Answer:

level of quality

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For Kira the restaurant has a low level of quality

5 0
3 years ago
For which of the following errors would the appropriate amount be added to the balance per books on a bank reconciliation?
Anni [7]

Answer:

D. Check written for $ 59 but recorded by the Company as $ 95

Explanation:

The correct choice is D since a check written at a higher than the correct amount has to be adjusted by adding the differential amount to the balance per books.

The options B and C are errors by the bank and thus would need to be adjusted on the bank side of the bank reconciliation.

The option A refers to a check value erroneously understated in the balance per books and this would require a deduction on the balance per books.  

5 0
3 years ago
Read 2 more answers
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