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3 years ago

The fixed budget indicates direct labor costs of $27,500. Actual direct labor costs were $27,000. The variance is:

Business

1 answer:

Vedmedyk [2.9K]3 years ago

5 0

Based on the information given the variance is $500 favorable.

<h3>
Variance</h3>

Using this formula

Variance=Fixed Direct labor cost-Actual direct labor cost

Where:

Fixed Direct labor cost=$27,500

Actual direct labor cost=$27,000

Let plug in the formula

Variance=$27,500-$27,000

Variance=$500 favorable

Inconclusion the variance is $500 favorable.

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Blake Company purchased two identical inventory items. The item purchased first cost $17.00, and the item purchased second cost

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Answer:

Ending inventory will be lower if Blake uses the weighted-average rather than the FIFO inventory cost flow method.

Explanation:

Ending inventory will be lower if Blake uses the weighted-average rather than the FIFO inventory cost flow method.

True as under weighted average:

(17 + 18) / 2 = 17.50

the ending inventory will be one unit valued at $17.50

while under FIFO the 17 dollar unit was sold and declare cost

while the second is keep under ending invenotry at $18.00

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3 years ago

On December 31, year 3, Byte Co. had capitalized software costs of $600,000 with an economic life of four years. Sales for year

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Answer:

net capitalized cost is = $450000

so correct option is b. $450,000

Explanation:

given data

capitalized software costs = $600,000

expected total sales = 10%

sale = 4 year

net realizable value = $480,000

solution

we find out net capitalized cost of computer software that is

net capitalized cost of computer software is = Year 1 balance - Year 2 amortization ........................1

here we get first Year 2 amortization that is

Year 2 amortization is = capitalized software costs ÷ total projected sale ..............2

put here value

Year 2 amortization = $\frac{600000}{4}$

Year 2 amortization is = $150,000

so here we get net capitalized cost

net capitalized cost is = $600,000 - $150,000

net capitalized cost is = $450000

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3 years ago

In response to a shortage caused by the imposition of a binding price ceiling on a market,

Margaret [11]

In response to a shortage caused by the imposition of a binding price ceiling on a market,

a. price will no longer be the mechanism that rations scarce resources.

b. long lines of buyers may develop.

c. sellers could ration the good or service according to their own personal biases.

A binding price ceiling is when the government or an agency of the government sets the maximum price of a good or service below the equilibrium price.

When price of a good is set below the equilibrium price of the good, the producer surplus would decreases and the consumer surplus would increase. This would lead to an excess of demand over supply. As a result, a shortage would occur. As a result of the shortage, black markets would occur.

To learn more about a price ceiling, please check: brainly.com/question/24312330

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2 years ago

Which of the following helps economists judge the overall condition of a

Svet_ta [14]

Answer:

Measuring economic indicators helps economist judge the overall conditions of a country's economy.

Explanation:

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3 years ago

Whether a business makes a profit or loss is determined by the difference between the total amount of money a business takes in,

elena55 [62]

Answer:

Revenue/Income; Expenses

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3 years ago