A manufacturing company accumulates the following data on fixed overhead: Actual cost incurred: $21,000; Budgeted: $20,000; Applied fixed overhead: $24,000. The fixed overhead volume variance is:

Answers

Answer 1

Answer:

$4,000F

Explanation:

Calculation to determine what The fixed overhead volume variance is:

Using this formula

Fixed overhead volume variance= Budgeted - Applied fixed overhead

Let plug in the formula

Fixed overhead volume variance=$20,000-$24,000

Fixed overhead volume variance=$4,000F

Therefore The fixed overhead volume variance is:$4,000F


Related Questions

Sports Corp has 11.7 million shares of common stock outstanding, 6.7 million shares of preferred stock outstanding, and 2.7 million bonds. If the common shares are selling for $26.7 per share, the preferred share are selling for $14.2 per share, and the bonds are selling for 96.83 percent of par, what would be the weight used for common stock in the computation of Sports's WACC

Answers

Answer: 10.34%

Explanation:

First calculate the value of the company's total capital:

= Common stock + Preferred stock + Debt

= (11,700,000 * 26.70) + (6,700,000 * 14.20) + (2,700,000 * 96.83/100 * 1,000 par value)

= $3,021,940,000

The weight to be used for common stock is:

= Common stock value / Total capital value

= (11,700,000 * 26.70) / 3,021,940,000

= 312,390,000 / 3,021,940,000

= 10.34%

Corris Co. accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost January 10,000 $17,000 February 8,000 13,500 March 9,000 14,400 April 7,000 12,500 Compute the variable and fixed cost elements using the high-low method. (Round variable cost to 2 decimal places, e.g. 15.25.)

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Miles Driven Total Cost

January 10,000 $17,000

February 8,000 13,500

March 9,000 14,400

April 7,000 12,500

To calculate the variable cost per unit and the total fixed cost, we need to use the following formula:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (17,000 - 12,500) / (10,000 - 7,000)

Variable cost per unit= $1.5

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 17,000 - (1.5*10,000)

Fixed costs= $2,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 12,500 - (1.5*7,000)

Fixed costs= $2,000

To reduce your chances of identify theft you should


a.
carry your Social Security Card in your wallet.
b.
check your credit rating regularly.
c.
only use drive thru ATM’s.
d.
never keep receipts with credit information printed on them.

Answers

To reduce your chances of identify theft you should: d. never keep receipts with credit information printed on them.

What is identity theft?

Identity theft  can be defined as the way in which person tend to make use of another person personal data or information so as to defraud people or to commit a crime.


This person can either make use of the person name, credit card numbers among others to commit a fraudulent act by impersonating the owner without the awareness of the person that owns the information.

In order to reduce the  identify theft  it is advisable that  a person should never keep  receipts that has details of their credit information printed on them as a fraudster can make use of the information to defraud or to commit crime.

Therefore To reduce your chances of identify theft you should: d. never keep receipts with credit information printed on them.

Learn more about Identity theft here:https://brainly.com/question/1531239

#SPJ1

The following balance sheet accounts (in millions of dol- lars) have been taken from the annual report for a U.S. bank. Arrange the accounts in balance sheet order and determine the value of total assets. Based on the balance sheet structure, would you classify this bank as a community bank, regional bank, or a money center bank?
Premises $1,078
Savings deposits 3,292
Cash 2,660
NOW accounts 12,816
Long-term debt 1,191
Other assets 1,633
Other time deposits 2,333
Net loans $29,981
Short-term borrowing 2,080
Other liabilities 778
Equity 3,272
Investment securities 6,092
Demand deposits 5,939
Certificates of deposit
(under $100,000) 9,853
Federal funds sold 110

Answers

The bank should be treated as a community bank.

The computation is as follows:

Total Assets = Premises+ Cash + Other assets + Net Loans + Investment securities + Federal funds sold

= $1,078 + $2,660 + $1,633 + $29,981 + $6,092 + $110

= $41,554  in Millions

Since the bank is a small regional bank that contains total assets of $41.5 billion so if this is the $41.5 million so it should be treated as the community bank.

Therefore we can conclude that the bank should be treated as a community bank.

Learn more about the asset here: brainly.com/question/13848560

Goal setting is a valuable tool for improving your own performance and managing that of your subordinates.

a. True
b. False

Answers

The correct answer to your question is true

You own a portfolio that is invested 15 percent in Stock X, 35 percent in Stock Y, and 50 percent in Stock Z. The expected returns on these three stocks are 9 percent, 15 percent, and 12 percent, respectively. What is the expected return on the portfolio

Answers

Answer:

12.60%

Explanation:

The expected return on the portfolio is the sum of the weighted expected return of each stock in the portfolio

(0.15 x 9) + (0.35 x 15) + (0.5 x 12)

= 1.35 + 5.25 + 6

= 12.6%

Suppose operation X feeds directly into operation Y. All of X's output goes to Y, and Y has no other operations feeding into it. X has a design capacity of 80 units per hour and an effective capacity of 72 units per hour. Y has a design capacity of 100 units per hour. What is Y's maximum possible utilization

Answers

Answer:

72 percent

Explanation:

The computation of the Y's maximum possible utilization is given below:

In the case when the maximum output received from C is 72 units per hour so the maximum input rate to Y should also be 72 units per hour as X and Y are linked in series

So as per the given situation, Y's maximum possible utilization is 72 percent

The same should be considered and relevant

You are considering the purchase of a machine out of your evaluation among four new ones. They have differing initial and ongoing costs and differing lives. Whichever machine is purchased will be replaced at the end of its useful life. Under such circumstances, you should choose the machine to purchase based on the ___________________.

Answers

Answer:

Lowest equivalent annual cost.

Explanation:

Considering the above scenario, it is more advantageous to choose the machine that has the lowest equivalent annual cost. As the newly acquired machine will be replaced at the end of its useful life, it is more advantageous for it to have a higher performance and lower annual cost among others, as the cost of depreciation of machinery and equipment must be considered as a fixed cost that will also directly impact a company's accounts.

advantages of discounted payback period​

Answers

Answer:

The main advantage of the discounted payback period method is that it can give some clue about liquidity and uncertainly risk. Other things being equal, the shorter the payback period, the greater the liquidity of the project. Also, the longer the project, the greater the uncertainty risk of future cash flows.

Sales-Related Transactions
Merchandise is sold on account to a customer for $7,400, terms FOB shipping point, 1/10, n/30. The seller
paid the freight of $390. Determine the following:
a.
Amount of the sale

b.
Amount debited to Accounts Receivable

c.
Amount received within the discount period
7,326 X

Answers

Answer:

a. Particulars                       Amount

Sales revenue - Gross        $7,400

Less: Sales discount           $74       ($7,400*1%)

Net sales revenue               $7,474

b. Particulars                                                Amount

Sales revenue-Net                                        $7,474

Add: Freight paid on behalf of purchaser   $390  

Account receivable debited                        $7,864

c. Particulars                                    Amount

Total amount due                           $7,938

Less: Sales discount ($7,400*1%)   $74  

Net amount to be received            $7,864

Yesterday, the dollar was trading in the foreign exchange market at 1.10 euros per dollar.​ Today, the dollar is trading at 1.20 euros per dollar. The dollar has​ ________ and a possible reason for the change is​ ________ in the expected future exchange rate.

Answers

Answer: appreciated; an increase.

Explanation:

Since there's an increase in the dollar rate at the foreign exchange market at 1.10 euros per dollar to 1.20 euros per dollar, this implies that the dollar has appreciated.

The appreciation of the dollar simply means that there's an increase in the value of the dollar when it's compared to.anitgee currency. Tge reason for the change is​ the increase in the expected future exchange rate.

Firms engaged in international trade deal with people they may have never seen, who live in different countries, who speak different languages, and who abide by different legal systems. These factors result in

Answers

Answer:

a lack of trust between the parties.

Explanation:

It is correct to say that these factors result in a lack of trust between the parties, due to social, political and cultural differences between different countries.

To reduce the lack of trust between the parties, it is necessary that companies operating in international trade comply with the legal, ethical and moral rules of the location where they are located, maintaining a multicultural relationship with their stakeholders, observing their preferences and desires and aligning its products and services to what local consumers are looking for in a company. Creating value for the consumer increases the company's confidence and positioning in an international market.

Minor Electric has received a special... Minor Electric has received a special one-time order for 1,500 light fixtures (units) at $11 per unit. Minor currently produces and sells 7,500 units at $12.00 each. This level represents 75% of its capacity. Production costs for these units are $13.50 per unit, which includes $9.00 variable cost and $4.50 fixed cost. To produce the special order, a new machine needs to be purchased at a cost of $625 with a zero salvage value. Management expects no other changes in costs as a result of the additional production. If Minor wishes to earn $1,075 on the special order, the size of the order would need to be:_______.
a. 3,400 units
b. 683 units
c. 1,700 units
d. 136 units
e. 850 units

Answers

Answer:

e. 850 units

Explanation:

Desired profit = $1,075

New machine cost = $625

Variable cost per unit = $9 per unit

Sale price per unit = $11 per unit

Order size = (Desired profit + Machine cost) / Contribution margin per unit

Order size = ($1,075 + $625) / ($11 - $9)

Order size = $1,700 / $2

Order size = 850 units

So therefore, if Minor wishes to earn $1,075 on the special order, the size of the order would need to be 850 units.

Vaughn Manufacturing began the year with retained earnings of $654000. During the year, the company recorded revenues of $610000, expenses of $377000, and paid dividends of $143000. What was Vaughn's retained earnings at the end of the year

Answers

Answer:

$744,000

Explanation:

First and foremost, we need to determine the earnings after in the year which is the total earnings that would be used in computing the ending retained earnings

earnings after-tax=revenue-expenses

earnings after-tax= $610000-$377,000

earnings after-tax= $233,000

The closing retained earnings=beginning retained earnings+net income-dividends

The closing retained earnings=$654000+$233,000-$143,000

The closing retained earnings=$744,000

Brownley Company has one service department and two operating (production) departments. Payroll Department costs are allocated to the two operating departments in proportion to the number of employees in each. Listed below are the operating data for the current period: Department Direct Expenses No.of Employees Payroll $ 26,000 Milling 80,000 52 Assembly 109,600 78 The total cost of operating the Milling Department for the current period is: rev: 12_17_2020_QC_CS-243789 Multiple Choice $90,400. $95,600. $10,400. $15,600. $80,000.

Answers

Answer:

$90,400

Explanation:

Calculation to determine Cost of operating mining department

Using this formula

Cost of operating mining department= Direct Cost + Payroll cost allocated

Let plug in the formula

Cost of operating mining department= 80,000 + (26,000/130)*52

(52+78=130)

Cost of operating mining department= 80,000 + $10,400

Cost of operating mining department= $90,400

Therefore Cost of operating mining department is $90,400

Select the statement below that is true of long run aggregate supply curves.

a. There is no relationship between price level and RGDP.
b. Changes in price level affect output.
c. There is a variable quantity of RGDP.

Answers

Answer:

There is no relationship between price level and RGDp

Answer:

(A) There is no relationship between price level and RGDP

Begin with a single sum of money at period 0. First, calculate a future value of that sum at 12.01%. Then discount that future value back to period 0 at 11.99%. In relation to the initial single sum, the discounted future value:_________

a. Is greater than the original amount
b. Is less than the original amount
c. Is the same as the original amount
d. Cannot be determined with the information given

Answers

Answer:

A

Explanation:

Let single sum = 100

The formula for calculating future value:

FV = P (1 + r)^nm

FV = Future value  

P = Present value  

R = interest rate  

m = number of compounding

N = number of years  

Future value in year 1 = 100 x 1.1201 = 112.01

Present value = future value / (1 + r)

112.01 / 1.1199 = 100.02

The discounted future value, 100.02 , is greater than, 100, the value at the initial stage by 0.02

The Learning Journal is a space where you should reflect on what was learned during the week and how it applies to your daily life and will help you with your life (career) goals.

a. True
b. False

Answers

the answer is A. true

Tom and Jerry's has 2.4 million shares of common stock outstanding, 2.4 million shares of preferred stock outstanding, and 14.00 thousand bonds. If the common shares are selling for $13.40 per share, the preferred share are selling for $10.40 per share, and the bonds are selling for 99.96 percent of par, what would be the weight used for common stock in the computation of Tom and Jerry's WACC

Answers

Answer:

Tom and Jerry's

The weight used for common stock in the computation of Tom and Jerry's WACC is:

= 45.22%

Explanation:

a) Data and Calculations:

                                               Common   Preferred    Bonds

                                                  Stock         Stock

Outstanding number               2.4 m         2.4 m         14,000

Market price per share           $13.40      $10.40         $999.6

Total value                               $32.16 m  $24.96 m    $13,994,400

Total value of stock and bonds = $71,114,400

Weight of common stock = $32.16/$71.1144 * 100 = 45.22%

Terry estimates that the costs of insurance, license, and depreciation to operate his car total $460 per month and that the gas, oil, and maintenance costs are 34 cents per mile. Terry also estimates that, on average, he drives his car 2,000 miles per month. Required: a. How much cost would Terry expect to incur during July if he drove the car 1,534 miles

Answers

Answer:

Total cost= $984.62

Explanation:

Giving the following information:

Fixed cost= $460

Unitary variable cost= $0.34 per mile

Miles driven= 1,534

First, we need to establish the total cost formula:

Total cost= fixed cost + unitary variable cost*number of units

Total cost= 460 + 0.34*x

x= number of miles

Now, the total cost for the month:

Total cost= 460 + 0.34*1,543

Total cost= $984.62

A three-year bond has an 8.0 percent coupon rate and a $1,000 face value. If the yield to maturity on the bond is 10 percent, calculate the price of the bond assuming that the bond makes semiannual coupon payments.

Answers

Answer:

$949.24.

Explanation:

The price of the bond also known as the Present Value (PV) of the Bond CAN be calculated using a Financial Calculator as

FV = $1,000

I/yr = 10%

Pmt = ($1,000 x 8.0 %) / 2 = $40

N = 3 x 2 = 6

P/yr = 2

PV = ???

Inputting the data in a Financial Calculator gives a Present Value of $949.24. Thus the price of the bond is $949.24.

The following monthly data are available for Bonita Industries. which produces only one product: Selling price per unit, $42; Unit variable expenses, $14; Total fixed expenses, $42000; Actual sales for the month of June, 5000 units. How much is the margin of safety for the company for June

Answers

Answer:

70%

Explanation:

Margin of safety is the amount of sales a company makes in excess of the breakeven point  

Margin of safety = (actual sales -  break-even sales) / actual sales

Breakeven quantity are the number of  units produced and sold at which net income is zero

Breakeven quantity = fixed cost / price – variable cost per unit /

$42000 / (42 -14) = 1500

(5000 - 1500) / 5000 = 70%

Exercise 8-22 Evaluating efficient use of assets LO A1 Lok Co. reports net sales of $5,856,480 for Year 2 and $8,679,690 for Year 3. End-of-year balances for total assets are Year 1, $1,686,000; Year 2, $1,800,000; and Year 3, $1,982,000. (1) Compute Lok's total asset turnover for Year 2 and Year 3.

Answers

Answer:

Total asset turnover = Net sales / Average total assets

Year 2:

= 5,856,480 / (1,686,000 + 1,800,000) / 2

= 5,856,480 / 1,743,000

= 3.36

Year 3:

= 8,679,690 / (1,800,000 + 1,982,000) / 2

= 8,679,690 / 1,891,000

= 4.59

Why does the government sometimes use an expansionary fiscal policy?

Answers

Expansionary fiscal policy is used to kick-start the economy during a recession. It boosts aggregate demand, which in turn increases output and employment in the economy.

Wages of 8,000 are earned by workers but not paid as of december 31

Answers

Answer:

huh i dont understand that question no choosing letter

Tora Co. plans to produce 1,020 units in July. Each unit requires two hours of direct labor. The direct labor rate is $20 per hour. Prepare a direct labor budget for July.\

Answers

Answer: $40,800

Explanation:

Each unit requires 2 hours of direct labor.

1,020 units would therefore require:

= 1,020 * 2

= 2,040 hours of labor

The direct labor rate is $20 per hour. If there are 2,040 hours to be worked, the cost would therefore be:

= 20 * 2,040

= $40,800

Willa and Westley are siblings who built a hair salon business from the ground up. They are now contemplating opening an additional salon location. The estimate to open an additional salon would mean adding $1 million in expenses with their profit increasing by $400,000 each year for the next 5 years (all other things equal). Willa and Westley decide:_____________

a. to take on the new salon because the expected marginal benefit ($2 million over 5 years) is greater than the estimated marginal cost ($1 million).
b. to not open a new salon because the marginal costs prove to be too high.
c. to open a second salon because the marginal cost of the new salon is low compared to other similar projects.

Answers

Answer:

A

Explanation:

The marginal benefit of a production activity is the change in total benefit as a result of increasing quantity produced by one unit

Marginal cost is the change in total cost as a result of increasing the quantity produced by one unit.

An activity should be undertaken if the marginal cost is less than the marginal benefit. It means that the activity is profitable.

Here the marginal benefit = 400,000 x 4 = 2,000,000  

the marginal benefit is greater than the marginal cost. Thus, the new salon can be established

the ness company sells $5,000,000 of five-year, 10% bonds at the start of the year. the bonds have an effective yield of 9%. present value factors are below: The amount of bond premium amortization for Year 2 is:

Answers

Answer:

The amount of bond premium amortization for Year 2 is:

=  $35,421.26

Explanation:

a) Data and Calculations:

Face value of bonds = $5,000,000

Selling price of bonds = $5,194,482.56

Premium on bonds = $194,482.56

Coupon interest rate = 10%

Effective yield = 9%

Annual interest payment = $500,000 ($5,000,000 * 10%)

N (# of periods)  5

I/Y (Interest per year)  9

PMT (Periodic Payment)  500000

FV (Future Value)  5000000

Amortization Schedule

Period PV                            Annual PMT     Interest        Amortization

Year 1       $5,194,482.56     $500,000.00   $467,503.43      $32,496.57

Year 2      $5,161,985.99      $500,000.00 $464,578.74       $35,421.26

Year 3      $5,126,564.73     $500,000.00 $461,390.83       $38,609.17

Year 4    $5,087,955.56      $500,000.00 $457,916.00     $42,084.00

Year 5     $5,045,871.56      $500,000.00 $454,128.44    $45,871.56

End of Year 5 FV = $5,000,000

Results

PV = $5,194,482.56

Sum of all periodic payments $2,500,000.00

Total Interest $2,305,517.44

Based on a predicted level of production and sales of 20,000 units, a company anticipates total variable costs of $96,000, fixed costs of $24,000, and operating income of $163,200. Based on this information, the budgeted amount of contribution margin for 17,000 units would be:

Answers

The budgeted value of the contribution margin for 17,000 units should be $159,120.

But before determining the contribution margin value first determine the following amounts:

Current contribution margin = Fixed costs + Target operating income

= $24,000 + $163,200

= $187,200

Now contribution margin per unit is

= $187,200 ÷ 20,000 units

= $9.36 per unit

And, finally the contribution margin value should be

= 17,000 units × $9.36 per unit

= $159,120

Therefore, we can conclude that The budgeted value of the contribution margin for 17,000 units should be $159,120.

Learn more about the contribution margin here: brainly.com/question/15186113

A machine cost $1,200,000, has annual depreciation of $200,000, and has accumulated depreciation of $950,000 on December 31, 2020. On April 1, 2021, when the machine has a fair value of $275,000, it is exchanged for a machine with a fair value of $1,350,000 and the proper amount of cash is paid. The exchange had commercial substance. The gain to be recorded on the exchange is

Answers

Answer: $1,350,000

Explanation:

If an exchange is said to have commercial substance, it means that the company will either record the asset received at its fair value and if this is not available, it will then record the value of the asset received at the fair value of the assets that were exchanged for it.

The fair value of the assets acquired are available in this instance so the machine will be recorded at its fair value of $1,350,000.

Other Questions
what is the equation of linear regression that fits the data Find the missing variables Martinez' General Store is having a 45% off sale on men's clothing. John paid $70.95 for a jacket that was on sale. What was the original price of the jacket? Venn diagram of b union b suggest any four techniques of promoting peoples. participation in your country math problem for highschool Compute the minimum length of vertical curve that will provide 220 m stopping sight distance for a design speed of 110 km/h at the intersection of a -3.50% grade and a +2.70% grade. 9 bushes in 81 minutes , how much time taken per bush Find the equation of the line.Use exact numbers.y= x+ Which are thesolutions of x2 = -7x - 8? The "homunculus" constructed on the basis of somatosensory representations in the human primary somatosensory cortex how do I solve this pls help khan academy is no smart Why are most native born Americans unwilling to pick oranges, and what challenges do illegal immigrants who do that work face? Fond the square root of 169 by division method In the passage, Roosevelt refers to the Axis powers as "gangsters." Explain theconnotations, or ideas and feelings, associated with that word. What central ideaabout the attack on Pearl Harbor do the word gangsters and other inflammatorylanguage in the passage help convey? Suppose taxi fares from Logan Airport to downtown Boston is known to be normally distributed and a sample of seven taxi fares produces a mean fare of $16.51 and a 95% confidence interval of [$15.96, $17.04]. Which of the following statements is a valid interpretation of the confidence interval??a. 95% of all taxi fares are between $14.77 and $16.23. b. We are 95% confident that a randomly selected taxi fare will be between $14.77 and $16.23. c. The mean amount of a taxi fare is $15.51, 95% of the time. d. With 95% confidence, we can report that the average taxi fare between Logan Airport and downtown Boston will fall between $14.77 and $16.23. Chiu tia sng ln mt gng phng bit gc ti bng 15 hy tnh gc phn x bng bao nhiu What does this sentence do?We will need fewer teachers in the next five years.A. TellsB. AsksC. Orders what's the difference between strength training and interval training How did some Islamic groups respond to the presence of US troops in Saudi Arabia before September 11, 2001? They joined forces with the Saudi government. They asked for US support to take over Saudi Arabia. They demanded that the US withdraw its forces. They asked for US support to help take over Iraq. Mark this and return