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Yanka [14]
2 years ago
8

Budgets that are revised by adding a new quarterly budget to replace the quarter that just elapsed are called: A) Production bud

gets. B) Sales budgets. C) Cash budgets. D) Rolling budgets. E) Capital expenditures budgets.
Business
1 answer:
garik1379 [7]2 years ago
3 0

When a budget is revised by adding a new quarterly budget to replace a previous one, this is a D. Rolling budget.

<h3>What is a rolling budget?</h3>

This is a type of budget that is considered continuous and perpetual because it captures the needs of the company over a longer period.

For instance, a rolling budget might be for a year but divided into 4 parts for each quarter such that as each quarter comes along, the company will simply start using the next quarterly budget.

Find out more on rolling budgets at brainly.com/question/23209198.

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A company has budgeted fixed overhead of $1.00 per hour at expected capacity of 5,000 units which has a standard quantity of 2 h
Nastasia [14]

Answer:

$1,600 Unfavorable

Explanation:

Given that,

Budgeted fixed overhead = $1.00 per hour

Expected capacity = 5,000 units

Standard quantity = 2 hours per unit

Actual units produced = 5,200

Total overhead costs = $12,000

Controllable variance:

= Actual Overhead cost - Budgeted cost of actual production

= $12,000 - (Actual units produced × Budgeted fixed overhead × Standard quantity)

= $12,000 - (5,200 × $1 × 2)

= $12,000 - $10,400

= $1,600 Unfavorable

7 0
3 years ago
Sometimes food is produced in other countries that do not have the same level of chemical safety as in the US. This imported foo
Artemon [7]

Answer:

The correct answer is letter "A": affordable food creates an external benefit rather than an external cost in the case.

Explanation:

Externalities are costs third parties have to be responsible for even if they were not involved in causing the externality. There are positive externalities and negative externalities. <em>Positive externalities</em> are those that third parties benefit from. <em>Negative externalities</em> affect third parties.

Thus, importing less-expensive but chemically-dangerous food will create a positive externality to consumers purchasing those types of foods since less money is getting out of their pockets without them having to influence discounts.

4 0
3 years ago
The stockholders’ equity accounts of Indigo Corporation on January 1, 2017, were as follows.
Lubov Fominskaja [6]

Answer:

Indigo Corporation

Journal Entries:

Feb. 1:

Debit Cash Account with $60,000

Credit Common Stock with $40,000

Credit Additional Paid-in Capital with $20,000

To record the issue of 10,000 shares of common stock, par $4 at $6 each.

March 20:

Debit Treasury Stock with $8,000

Debit Additional Paid-in Capital with $6,000

Credit Cash Account with $14,000

To record the repurchase of 2,000 shares of treasury stock at $7 each.

October 1:

Debit Dividends - Preferred Stock with $35,000

Credit Dividends Payable with $35,000

To record preferred stock dividends declared.

November 1:

Debit Dividends Payable with $35,000

Credit Cash Account with $35,000

To record cash payment of dividends.

December 1:

Debit Dividends - Common Stock with $249,000

Credit Dividends Payable with $249,000

To record $0.50 per share common stock dividend.

December 31:

Debit Dividends Payable with $249,000

Credit Cash Account with $249,000

To record payment of dividend.

Debit Net Income with $550,000

Credit Retained Earnings with $550,000

To record the transfer of net income to Retained Earnings.

Explanation:

a) Whereas $60,000 cash was received for the issue, only $40,000 (10,000 x $4) is credited to Common Stock.  The additional of $20,000 is credited to Additional Paid-in Capital.  This shows that the shares were issued above their par value.

b) When 2,000 shares of treasury stock were reacquired at a total cost of $7 per share, the Treasury Stock account is debited with the par value of $4 per share ($8,000).  The above par value difference is taken to the Additional Paid-in Capital account as a debit.

c) Dividends on preferred stock was prorated for 10 months, from January to October.  This is because the percentage dividend is for a year.

d) Dividends on common stock would not be prorated since they are based on annual percentages like preferred stock.  Dividends on the common stock is, therefore, calculable on the outstanding balance.  

e) Treasury Stock is a contra account to the Common Stock as it reduces the balance of common stock outstanding.  The outstanding balance of Treasury Stock increased to 12,000 (10,000 + 2,000).

f) Outstanding common stock reduced from 500,000 shares to 498,000 (500,000 + 10,000 - 12,000).  The additional 10,000 represented the new issue and the 12,000 represented the Treasury Stock.

5 0
3 years ago
For each transaction, indicate the transaction's effect on the company's accounting equation by selecting either increase, decre
lbvjy [14]

Answer:

C

Explanation:

8 0
3 years ago
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Which of the following is a common sense safety procedure that can help prevent electrical accidents
evablogger [386]
Putting the wrong wires together and not knowing what goes to what
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3 years ago
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