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Vinvika [58]
2 years ago
6

When there is a difference between the actual volume of production and the standard volume of production, which of the following

, based solely on fixed overhead, occurs?
a. Overhead cost variance.
b. Controllable variance.
c. Quantity variance.
d. Volume variance.
e. Production variance.
Business
1 answer:
USPshnik [31]2 years ago
5 0
answer - C. Volume variance.
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Coronado Industries sells one product and uses a perpetual inventory system. The beginning inventory consisted of 77 units that
soldi70 [24.7K]

Answer:

$6745

Explanation:

Given: Beginning inventory is 77 units at the cost of $19 per unit.

            Purchased inventory is 476 units at $19 per unit.

            Sales during the month is 355 units at $45 per unit.

Now, let´s find the cost of goods sold using LIFO method.

We know, LIFO method is Last in first out, which sell out inventory, which are most recently purchased. In a period of rising prices, LIFO inventory method tends to give the highest reported cost of goods sold.

As sales unit is 355 units.

Let´s take units from recent purchased inventory.

Cost of good sold= 355\ units\times 19= \$ 6745

Hence, the cost of goods sold using the LIFO method is $6745.

7 0
3 years ago
Sheryl’s Shipping had sales last year of $10,000. The cost of goods sold was $6,500, general and administrative expenses were $1
Amiraneli [1.4K]

Answer:

What are earnings before interest and taxes?

To find this figure, we substract the cost of goods sold, general and administrative expenses, and depreciaction expense from the total sales:

Earnings Before Interest and Taxes (EBIT) = $10,000 - $6,500 - $1,000 - $1,000 = $1,500

What is net income?

To find the net income, we take the EBIT we found above, and substract from it the interest expense, which gives us the taxable income:

Taxable Income = $1,500 - $500

                           = $1,000

Now that we have the taxable income, we multiply this figure by the tax rate, to obtain the tax expense.

Tax expense = $1,000 x 35%

                      = $350

Finally, our net income is equal to the taxable income minus the tax expense:

Net Income = $1,000 - $350

                    = $650

What is cash flow from operations?

We add the non-cash expenses to net income to find this figure. In this case, we only have one non-cash expense: depreciation expense.

Cash flow from operations = $650 + $1,000

                                              = $1,650

8 0
3 years ago
g Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding
FromTheMoon [43]

Answer:

Total equivalent unit of material =   140,000 units

Explanation:

<em>Equivalent units are used to apportion cost between completed units and work in progress. They represent notional whole units which represent incomplete work. </em>

<em>Under the first in first method , to account for completed units during a production period the opening inventory units are assumed to completed first before newly the newly introduced units.</em>

<em>So we can work out the equivalents units as follows:</em>

<em>Fully worked units :These represent units started this period of production and completed in the same period. This is given as 110,000 units</em>

Equivalent units (EU)

<em>Item                           unit          Workings               EU</em>

Opening inventory     25,000     0% × 25,000     =   0

Fully worked            110,000    100% × 110,000 =   110,000

Closing inventory    30,000      100%× 30,000 =   <u>30,000</u>

Total equivalent unit of material                           <u>140,000</u>

<u />

<em>Note that for the opening inventory already 100% material work has been done the preceding period , so there wont be any work left to be done in respect of materials.</em>

5 0
3 years ago
Dunay Corporation is considering investing $750,000 in a project. The life of the project would be 11 years. The project would r
photoshop1234 [79]

Answer:

The Net Present Value is - $20324

Explanation:    

We can use our financial calculator to work out the NPV using the cashflows from the different periods and using the discount rate given. Which is 18%.

We have 11 periods. Starting off with CF 0. ( CF = cashflow ) We will work in Thousands to make it easier to read and compute. $ ' 000

CF 0 Machine Investment (750) Working Capital Investment (25) Total=(775)

CF 1 160 inflow

CF 2 160 inflow

CF 3 160 inflow

CF 4 160 inflow

CF 5 160 inflow

CF 6 160 inflow

CF 7 160 inflow

CF 8 160 inflow

CF 9 160 inflow

CF 10 160 inflow

CF 11 160 inflow. 35 salvage value from machine. Working capital 25. Total Cashlow = 220

We now use our financial calculator and input these amounts into the calculator.

We start of by entering the data and hitting ENT and do so for every Cash flow. At the end we press 2nd function CFI on our calculator. We then enter the discount rate of 18%. and press down button to get to NPV and then press COMP.

We get an answer of -20,32400407

We now need to put the amount into thousands. Thus = -20324,004

rounded to the nearest dollar we get - $ 20324

7 0
3 years ago
In reviewing research on power, you discover that there are three other common sources of power in organizations. Which of the f
Rudiy27
It is information power
3 0
3 years ago
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