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2 years ago

Michael Corporation manufactures railroad cars, which is its only product. The standards for the railroad cars are as follows:

Business

1 answer:

Fittoniya [83]2 years ago

6 0

Answer:

Direct material quantity variance= $850 unfavorable

Explanation:

Giving the following information:

Standard tons of direct material (steel) per car 4

Standard cost per ton of steel $ 17.00

During March, the company produced 1,650 cars.

Actual materials purchased and used (tons) 6,650

<u>To calculate the direct material quantity variance, we need to use the following formula:</u>

<u></u>

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (4*1,650 - 6,650)*17

Direct material quantity variance= $850 unfavorable

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Small businesses are important to the U.S. economy because

horsena [70]

Answer:

D) They create about 65% of new jobs each year and generate over 50% of the U.S. GDP.

Explanation:

Small businesses employ over 99 percent of all the private-sector employees in the US. In figures, they hire over 130 million people. Besides that, 60 to 80 percent of all new jobs created every year come from small businesses.

In revenue generation, Small business makes 54 percent of US sales. They contribute over six trillion-dollars to the economy or 50 percent of the country's GDP

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3 years ago

In the past year, TVG had revenues of $3 million, cost of goods sold of $2.5 million, and depreciation expense of $200,000. The

beks73 [17]

Answer:

TVG

Times Interest Earned Ratio (TIER) = Earnings Before Interest & Taxes divided by Interest Expense

= $300,000/$$80,000 = 3.75 times

Explanation:

a) TVG Income Statement:

Revenue $3,000,000

Cost of goods sold 2,500,000

Gross profit $500,000

Depreciation 200,000

EBIT $300,000

Interest Expense 80,000

Pre-tax Income $220,000

b) TVG's TIER shows the number of times that its earnings before interest and taxes covers the interest expense. It shows the ability of the TVG to settle its maturing debt obligations from current earnings. It is an important financial performance measure which potential investors in TVG will use to gauge the ability of TVG to meet financial obligations from the earnings it generates.

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3 years ago

Jaycee Auto Repair has the following budgeted costs for the next year: Time Charges Material Charges Shop employees’ wages and b

liraira [26]

Answer:

Explanation:

Total cost of repairs:

Material = 3,500

Material loading charge = 3,500 * 65% = 2,275

Labor (45hrs* $47per hr) = 2,115

Thus, total cost =(3500 + 2275 + 2115) = $7,890

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3 years ago

When using the periodic system the physical inventory count is used to determine Select one: a. both the cost of the goods sold

AlexFokin [52]

Answer:

a. both the cost of the goods sold and the cost of ending inventory.

Explanation:

The physical count is used in the periodic inventory system to calculate the amount of ending inventory. However the cost of goods sold can be derived from using the ending inventory count. Suppose we have ending inventory of 100 units and Purchases were 500 units Also there were no beginning inventory units so the Cost of goods Sold can be calculated as

Cost of Goods Sold= Beginning Inventory Add Purchases Less Ending Inventory

Cost of Goods Sold= 0 + 500- 100= 400

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3 years ago

g Call options on IBM-listed stock options are Group of answer choices created by investors and traded on various exchanges. iss

Scorpion4ik [409]

Answer: Created by investors and traded on various exchanges

Explanation:

Call options are contracts that give the buyer the right to buy the underlying assets of the option on a particular date at a set price by exercising the option. American Call options can be exercised anytime before the date listed in the contract as well.

Call options are created by people who already own stock in the company i.e investors in IBM and traded on various exchanges such as the Chicago Board Options Exchange. It acts as a supplementary way to make income from stock if the investors do not believe that the stock price will go up thus enabling them to make income from the contract price.

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3 years ago