All categories

3 years ago

Bressman Inc. has provided the following data concerning one of the products in its standard cost system.

Business

1 answer:

Ad libitum [116K]3 years ago

4 0

Answer:

$268 Favorable

Explanation:

Variable overhead variance can be computed by using the following formula,

Budgeted hours = 0.20/unit

Variable overhead efficiency variance

= Standard Overhead rate * (Actual Hours - Standard Hours)

= 6.7 * ( 1,820 - (9300*0.2))

Efficiency variance = $268 Favorable, as actual hours for actual activity are less than standard hours at actual activity.

Hope that helps.

You might be interested in

Robinson Company had a net deferred tax liability of $34,000 at the beginning of the year, representing a net taxable temporary

forsale [732]

Answer:

deferred income tax benefit during 2018: 6,700

deferred income tax liability ending balance 27,400

Explanation:

beginning deferred tax laibility 34,000

this will change to 21,000 for the tax rate change

(100,000 x 21% = 21,000)

thus there is a decrease of 13,000 in the tax liablity

Then:

book income 400,000

temporary differenc(net): (30,000)

Taxable income 370,000

30,000 x 21% = 6,300 additional deferred tax expense

13,000 benefit - 6,300 deferred tax expense = 6.700 benefit

5 0

3 years ago

Fighting Irish Incorporated pays its employees $3,640 every two weeks ($260/day). The current two-week pay period ends on Decemb

krok68 [10]

Answer:

1. Salaries expense A/c $780

To Salaries payable A/c $780

(Being adjusting salary is recorded)

2. Salaries expense A/c Dr $2,860 ($260 × 11 days)

Salary payable A/c Dr $780

To Cash A/c $3,640

(Being the payment is recorded)

3. $780

Explanation:

1. The adjusting entry is presented below:

Salaries expense A/c $780

To Salaries payable A/c $780

(Being adjusting salary is recorded)

The salaries expense is calculated below:

= Salary per day × number of days

= $260 × 3 days

= $780

The number of days is calculated from Dec 28 to Dec 31

2. The entry would be

Salaries expense A/c Dr $2,860 ($260 × 11 days)

Salary payable A/c Dr $780

To Cash A/c $3,640

(Being the payment is recorded)

3. The year-end adjusting balance would be

= Salaries Payable before adjustment + adjustment balance

= $0 + $780

= $780

6 0

4 years ago

Which of these options for saving money offers the lost liquidity?

daser333 [38]

The option of saving money that offers the most liquidity is a piggy bank. (option C)

<h3>What is liquidity?</h3>

Liquidity can be described as the ease with which an asset can easily be converted to cash. Paper currency and coins is the most liquid assets. Real estate is illiquid because it takes a long time for a real estate asset (e.g a house) to be sold and proceeds converted to cash.

Liquid assets earn less returns when compared with assets that are less liquid. This is because illiquid assets earn an illiquidity premium. An illiquidity premium compensates holders for holding an illiquid asset.

Money in a piggy bank is already in cash or coins and there is no need to convert it to cash again. Also, money in a piggybank is more accessible than the other options.

To learn more about liquidity, please check: brainly.com/question/15691477

#SPJ1

8 0

2 years ago

Listed below are current asset items for Lester Company at December 31, 2019. Finished goods inventory $35,000 Cash 22,000 Prepa

ioda

Answer:

Current Assets :

Work in process inventory 23,000

Raw materials inventory 17,000

Finished goods inventory 35,000

Supplies 500

Accounts receivable 4,000

Prepaid expenses 2,000

Short-term investments 25,000

Cash 22,000

Total 128,500

Explanation:

Current Assets are always shows in the order of their liquidity in the Balance Sheet. That is the order in which they are quickly be converted into cash within a period of less than 12 months. Start with the Inventories to cash and cash equivalents as shown above.

7 0

3 years ago

Reil [10]

Answer:

The sector which is registered and follows government rules and regulations, having employees and employee unions is called as an organised sector. ... The sector that comprises of small-scale enterprises or units and is not registered with the governmen

7 0

3 years ago