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2 years ago

When a company prepares financial statements using standard costing, which items are reported at standard cost

Business

1 answer:

Dmitrij [34]2 years ago

7 0

Answer: Inventories and cost of goods sold.

Explanation:

Standard costing is used in accounting and it simply has to do with the substitution of the cost that's expected for a product with an actual cost when preparing financial statements.

The difference that's then between the actual costs and expected costs are then recorded as variance. It should also be noted that when a company prepares financial statements using standard costing, the items that are reported at standard cost will be Inventories and the cost of goods sold.

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Henry Garrison starts the month with a balance on his credit card of $1,130. The average daily balance for the month, including

hoa [83]

Answer:

Interest expense $ 11.15

Explanation:

As the bank uses the average daily balance excluding new purchases we should use that amount to solve for the interest expense.

The rate is one and a half percent therefore, 1.5% --> 0.015

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$743 x 0.015 = $ 11.145

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3 years ago

Becker Bikes manufactures tricycles. The company expects to sell 520 units in May and 650 units in June. Beginning and ending fi

Kitty [74]

Answer:

The budgeted variable overhead for May is $5,335

The budgeted variable overhead for June is $7,260

The budgeted fixed overhead for both May and June is $11,500 per month

Explanation:

First we have to determine how many tricycles does Becker Bikes expects to manufacture during May and June:

May:

beginning inventory May 180

expected sales May 520

ending inventory May 145

Becker is planning to manufacture 485 tricycles (= 520 + 145 -180)

June:

beginning inventory May 145

expected sales May 650

ending inventory May 155

Becker is planning to manufacture 660 tricycles (= 650 + 155 -145)

The budgeted variable overhead for May = 485 tricycles x $11 per tricycle = $5,335

The budgeted variable overhead for June = 660 tricycles x $11 per tricycle = $7,260

The fixed overhead for both May and June is $11,500 per month

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3 years ago

A financial ratio by itself tells us little about a company since financial ratios vary a great deal across industries. There ar

Sergio [31]

Answer:

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Explanation:

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2 years ago

pJimmy is a client of yours and he has some holdings in U.S. T-Bonds. Over the past year, he received $500 in interest from thes

Firdavs [7]

Answer:

Jimmy must pay federal income taxes for the $500 earned in dividends during last year = $500 x 28% = $140

Since interest earned on federal securities are not taxed by state or local governments, there is no state tax liability.

Jimmy's total taxes due from dividends earned = $140

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2 years ago

Consumers sell goods or services for a profit.<br><br> True<br> False

Alenkinab [10]

The answer is True. because in Economics when the MC is equal to ATP the seller losses and leave the market.
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2 years ago