What kind of education and training do you need to be a sports photography?

Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2017, GII estimated the foll

Andru [333]

Answer:

July's direct material flexible−budget variance is <u>$ 1500</u>.unfav

Explanation:

Genent Industries, Inc. (GII),

Budgeted quantity Budgeted price

Direct materials 0.3 pounds $20 per pound

Direct labor 0.7 hours $20 per hour

Actual Price for 15000 pounds and 2,875 DLH

Direct Materials $17 per pound

Direct manufacturing labor hours wages $20.50 per hour.

July's direct material flexible−budget variance is <u>$ 1500</u>. unfav

Budgeted Cost for 4000 containers -Actual Cost for 4000 containers

= $ 24000- $ 25500 = $ 1500

Since the actual cost is greater it is unfavorable

Flexible Budget Variance is obtained by subtracting actual costs from flexible budget costs at a given volume.

1 container requires 0.3 pounds

4000 containers require 0.3 * 4000= 1200 pounds

But actually 1500 pounds were used .

Now costs

Budgeted Costs for 1200 pounds is = 20 *1200= $24000

Actual Costs for 1500 pounds is = 17* 1500 = $ 25 500

8 0

3 years ago

Which of the following is false concerning special basis adjustments under Section 754? Multiple Choice Special basis adjustment

podryga [215]

Answer:

Special basis adjustments are an annual election made by the partnership.

Explanation:

According to section 754, the election option is available when some prescribed types of distribution of assets from the partnership to a partner occur if transfer of interest by either of sale, exchange or death of partner ocurred, otherwise such section will not be applicable. Once such section applied it will continue to be applied to all tranfers.

6 0

3 years ago

A deadweight loss is a consequence of a tax on a good because the tax

mamaluj [8]

Answer:

b. induces buyers to consume less, and sellers to produce less.

Explanation:

Because of the increase of tax on each good, it will cause a deadweight loss. At higher tax rates we consumers tend to consume less, the decrease in demand will inevitably decrease the supply therefore sellers will produce less.

4 0

3 years ago

How much does it cost to ship furniture to the philippines answers?

Svetlanka [38]

It's all depends on from where you are shipping the furniture from

3 0

4 years ago

Cost Behavior; High-Low Method [LO2-4, LO2-5] Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The c

vova2212 [387]

Answer:

Y=4200+0.074X

At activity level of 80,000 kilometers total cost is $10,120

Explanation:

Variable cost=(cost at higher activity-cost at lower activity level)/(vol. at higher activity level-vol. at lower activity level)

cost at higher activity level=105000*0.114=$11,970

cost at lower activity level=70000*$0.134=$9,380

variable cost=($11,970-$9,380)/(105,000-70,000)

=$0.074

The cost function is Y=a+bX

where Y is total cost

a is fixed cost

b is the variable cost

X is the volume of output at a particular level of output

by substituting variable cost at higher activity level of 105000 units

$11,970=a+($0.074*105000)

$11,970=a+$7770

a=$11,970-$7,770

a=$4,200

Y=4200+0.074X

If 80,000 kilometers were driven during the year,the total cost is computed thus:

Y=$4200+($0.074*80000)

Y=$4200+$5920

Y=$10,120

5 0

3 years ago