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Lady_Fox [76]
2 years ago
11

Cost standards for one unit of product no. C77: Direct material 3 pounds at $2.50 per pound $ 7.50 Direct labor 5 hours at $7.50

per hour 37.50 Actual results: Units produced 7,800 units Direct material purchased 26,000 pounds at $2.70 $ 70,200 Direct material used 23,100 pounds at $2.70 62,370 Direct labor 40,100 hours at $7.30 292,730 Use the information to compute the following variances. The standard hours allowed for the work performed are:
Business
1 answer:
PSYCHO15rus [73]2 years ago
3 0

Answer:

Standard hours allowed= 39,000

Explanation:

Giving the following information:

Standard direct labor hours per unit= 5 hours

Actual results:

Units produced 7,800 units

<u>To calculate the standard hours allowed, we need to multiply the number of units produced for the unitary standard direct labor hours:</u>

Standard hours allowed= 7,800*5

Standard hours allowed= 39,000

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Post Delivery Service acquired at book value 80 percent of the voting shares of Script Real Estate Company. On that date, the fa
Rudik [331]

Answer:

a) Consolidated  Net Income

When preparing consolidated Net Income, We add each and every line item on a Parent's financial statements with the same line item on the Subsidiary's financial statement and adjust line items like revenue ( intra-group sale) , cost of goods sold ( unrealized profits) , other incomes ( dividends received) and expenses (depreciation on profits) .

b) JOURNAL ENTRIES

Debit Common stock $ 280,000 Debit Retained Earnings $ 95,000 Credit investment $ 300,000 Credit Non_Controlling interest( N . C . I ) $ 75,000

c) Debit Service Revenue $ 21,000,Credit Service fee $ 21,000

Debit  Gain or profits on sale of land $ 25,000 Credit Land $ 25,000

Debit Dividends received  $ 8000, N . C . I $2000 Credit Dividends paid $ 10,000

Explanation:

The question is incomplete, it lacks the financial statements to be consolidated.

Steps to Consolidated Statements

1 . Eliminate common transactions ( transactions like intra-group sale , dividends , etc . .)

2 . Consolidate the financial statements

b) we credit investment and if investment is greater than the total of common stock and retained earnings at 80%  then we create equity represented by goodwill ( asset ) , if investment is less the we set off that amount in the retained earnings of the investing company. (Assuming investment = 80 % of total amount at acquisition .

5 0
3 years ago
A homeowner in a sunny climate has the opportunity to install a solar water heater in his home for a cost of $2900. After instal
quester [9]

Answer:

correct option is A. $145  

Explanation:

given data

investment cost = $2900

interest rate = 5% per year

solution

formula for present value of perpetuity is

investment cost = fixed cash saving per year ÷ interest rate    ..................1

put her value we get fixed cash saving per year that is

saving per year cost =  $2900 × 5%

saving per year cost =  $2900 × 0.05

saving per year cost =  $145

so correct option is A. $145  

8 0
3 years ago
What should you plan for first when creating a budget
alexira [117]

Answer:

CALCULATE EXPENSES

Your first order of business is finding out exactly how much you’re spending each month. Do this by consulting your bank statements, receipts and financial files. Because some expenses are intermittent, such as insurance payments, you’ll get the most accurate financial picture if you calculate an average for six months to a year. Add up everything you spent for the last six to 12 months and then divide by the amount of months, which will give you your average monthly expenses.

Remember that being thorough when you add up expenses is important in creating a realistic budget. A forgotten bill really throws a wrench into your savings plan. When calculating your expenses, also factor in unexpected bills, such as unplanned car repairs. A good rule of thumb is to add an extra 10 percent to 15 percent. So if you’ve determined that you spend $1,500 a month, add $150 to $225.

4 0
3 years ago
Selected operating data for two divisions of Outback Brewing, Ltd., of Australia are given below: Division Queensland New South
PtichkaEL [24]

Answer:

Queensland 14.7%

New South Wales is 24.0%

Explanation:

This is a case of modified  return on investment since the question was specific that the  return on investment  should in terms margin and assets turnover.

The first task would be to compute margin and turnover  whereas the return on investment  would be  the multiples of both performance measures.

Margin =operating income/sales

Asset turnover=sales/average operating assets

operating income/sales*sales/average operating assets=operating income/average assets

This question also require proofing the above formula as I have done.

                                 Margin                  Assets turnover                      ROI

Queensland$82,320/$784,000=10.5%$784,000/$560,000=1.4     14.7%

South Wales$118,800/$1,485,000=8% $1,485,000/$495,000=         24.0%

R0I=margin*assets turnover

Queensland=10.5%*1.4=14.7%

New south sales=8%*3=24%

8 0
3 years ago
Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department
FromTheMoon [43]

Answer:

$90,000

Explanation:

We could allocate assembly overhead on the basis of the parts used in the assembly process:

wheels ⇒ 300,000 x 2 parts = 600,000 parts

<u>seats ⇒ 600,000 x 3 parts = 1,800,000 parts</u>

total parts assembled     2,400,000 parts

overhead costs per part assembled = $360,000 / 2,400,000 parts = $0.15 per part

so the overhead allocated to wheels should be = 600,000 parts x $0.15 per part = $90,000

7 0
3 years ago
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