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Alekssandra [29.7K]
3 years ago
8

Bismith Company reported: Actual fixed overhead Fixed manufacturing overhead spending variance Fixed manufacturing production-vo

lume variance $700,000 $40,000 unfavorable $30,000 unfavorable
To record the write-off of these variances at the end of the accounting period, Bismith would
A. credit Fixed Manufacturing Production-Volume Variance for $30,000
B. debit Fixed Manufacturing Control for $700,000
C. credit Fixed Manufacturing Overhead Allocated for $700,000
D. debit Fixed Manufacturing Overhead Spending Variance for $40,000
Business
1 answer:
max2010maxim [7]3 years ago
5 0

Answer:

D. Debit fixed manufacturing overhead spending variance for $40,000

Explanation:

Since fixed manufacturing overhead shows the difference between the actual fixed overhead costs and budgeted fixed overhead cost during a period, Bismith would debit fixed manufacturing overhead spending variance of $40,000 inorder to write off the recording of the variances at the end of the accounting period because the value for fixed manufacturing overhead spending variance has already being gotten hence would be applied at the end of the period.

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Spartan Corporation estimates that it will incur $200,000 of total manufacturing overhead cost at an estimated activity level of
bagirrra123 [75]

Answer:

Applied manufacturing overhead is $4,000

Explanation:

Given,

Total manufacturing overhead = $200,000

Activity level = 10,000 DLH

Predetermined overhead rate = \frac{Manufacturing\ overhead\ cost}{Activity\ level}

=\frac{200,000}{10,000}

=$20

Manufacturing overhead applied = predetermined rate × time required

                                                       = 20 × 200

                                                       = $4,000

Therefore, manufacturing overhead of $4,000 is applied to the job.

3 0
3 years ago
If the Sampson Company, a supplier of wood, understands the needs and requirements for wood for a few firms within a NAICS class
Helen [10]

Answer:

The answer is "Option c".

Explanation:

The customer service must matter arising' needs to fulfill everyone. The Sampson Company, a timber manufacturer, understands the wood specifications or conditions for several firms within the NAICS category. Within this case, the Dunn Company will develop the timber specifications or criteria of all firms underclass.

5 0
2 years ago
Under The Factoring Arrangement, The Factor  <br><br>​
svetlana [45]

Answer:

Hope this may help you

4 0
3 years ago
A company uses the following standard costs to produce a single unit of output. Direct materials 7 pounds at $0.60 per pound = $
Naddika [18.5K]

Answer:

Direct material price variance= $20,100 unfavorable.

Explanation:

Giving the following information:

Direct materials 7 pounds at $0.60 per pound = $ 4.20

During the latest month, the company purchased and used 67,000 pounds of direct materials for $.90 per pound to produce 10,000 units of output.

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

Direct material price variance= (0.60 - 0.90)*67,000= $20,100 unfavorable.

7 0
3 years ago
Pharoah Company uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at Dece
ANTONII [103]

Answer:

$6,689

Explanation:

As we know that the inventory should be recorded at cost or net realizable value which ever is lower

Particulars      Item Units      Unit Cost         Net Realizable Value    LCNRV

Minolta              7                    $175                $157                              $157

Canon               11                    142                   176                               $142

Vivitar               14                    130                   111                                $111

Kodak               17                     120                  132                              $120

So, the amount of ending inventory is

= 7 units  × $157 + 11 units × $142 + 14 units × $111 + 17 units × $120

= $1,099 + $1,562 + $1,988 + $2,040

= $6,689

4 0
3 years ago
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