Jackson Industries uses a standard cost system in which direct materials inventory is carried at standard cost. Jackson has established the following standards for one unit of product: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 6 pounds $4.30 per pound $25.80 Direct labor 2.40 hours $5.00 per hour $12.00 During May, Jackson purchased 145,600 pounds of direct material at a total cost of $655,200. The total factory wages for May were $258,800, 90 percent of which were for direct labor. Jackson manufactured 21,000 units of product during May using 122,800 pounds of direct material and 50,900 direct labor-hours. The price variance for the direct material acquired by Jackson Industries during May is:

Answers

Answer 1

Answer:

Direct material price variance= $29,120 unfavorable

Explanation:

Giving the following information:

Standard: Direct materials 6 pounds $4.30 per pound $25.80

Actual= Jackson purchased 145,600 pounds of direct material at a total cost of $655,200.

To calculate the direct material price variance, we need to use the following formula:

Direct material price variance= (standard price - actual price)*actual quantity

Actual price= 655,200/145,600= $4.5

Direct material price variance= (4.3 - 4.5)*145,600

Direct material price variance= $29,120 unfavorable


Related Questions

You, a real-estate developer, own a piece of land in Nassau, Bahamas, next to an equal-size piece of land owned by a competitor. Both of you have the choice of building a casino or a hotel. Your payoffs in millions of dollars are as follows:You
Your Competitor Casino Hotel Casino 3,3 20,5Hotel 5,20 2,2How much is it worth to you to get your casino building permit first?a. $2 millionb. $3 millionc. $15 milliond. $17 million

Answers

Answer: c. $15 million

Explanation:

If you get your casino building first, your competitor will have to get the Hotel so as to make $5 million which is more than the $3 million if they were to choose a casino as well.

The Payoff for you would therefore be $20 million and for them $5 million.

The Net Payoff over your competitor would be = 20 - 5

= $15 million

The involvement by a company in more than one of the activities in the entire value chain from development through production, distribution, sales, and after-sales service is called ________. opportunity cost vertical integration relevant cost avoidable cost

Answers

Answer: vertical integration

Explanation: The integrating (to include as a constituent part or functionality) of successive stages in the production and marketing process under the ownership or control of a single management organization is known as vertical integration. As such, such a firm is usually involved in various activities in the entire value chain. This helps it reduce costs, ensure tighter quality control, as well as ensuring a better flow and control of information across the value chain.

Link Co. purchased machinery that cost $3,000,000 on January 4, 2016. The entire cost was recorded as an expense. The machinery has a nine-year life and a $200,000 residual value. The error was discovered on December 20, 2018. Ignore income tax considerations. Before the correction was made, and before the books were closed on December 31, 2018, retained earnings was understated by:_________.a. $3,000,000.
b. $2,066,667.
c. $2,377,778
d. $2,333,333.

Answers

Answer:

c. $2,377,778

Explanation:

Recording the entire cost as expense would have understated Retained Earnings by $3,000,000

Annual Depreciation on machine = Purchase cost - Residual value / Useful life

= ($3,000,000 - $200,000) / 9

= $311,111

Depreciation would have been recorded for $622222 for 2 years had machinery been correctly recorded ($311,111 * 2) = $622,222

On December 20, 2018, the net understatement of Retained Earnings = $3,000,000 - $622,222

= $2,377,778

the construction of a 1000 suit luxury hotel requires the installation of 12 outlets and 6 light fictures per suit . The companys standard productivity for a two electrician crew is 20 minutes per light fixture and 30 minutes per outlet. Using eighteen crews working at a 0.8 efficiency factor and a 10hr work day with a half an hour lunch break , the duration of this construction activity (days,hours) is most nearly how much

Answers

Answer:

Hours = 8000

Days = 46.78

Explanation:

The duration of this construction activity can be calculated as follows

DATA

No. of suits = 1000

Outlets to be installed = 12/suit

Standard productivity for outlet = 30mins

Fixtures to be installed = 6/suit

Standard productivity light fixture = 20mins

Working hours per day = 10 hours - 0.5 lunch break

Working hours per day = 9.5 hours

No. of crews = 18

Solution

Total time to fix = No.of suits x no. of installations x Standard time

Total time to fix = (1000 x 12 x 30mins ) + ( 1000 x 6 x 20mins)

Total time to fix = 480000 mins

Total time to fix = 480000/60mins = 8000 hours

Duration in days = Total time / (hrs per day x mo. of crews)

Duration in days = 8000 hours / (9.5 x 18)

Duration in days = 8000/171

Duration in days = 46.78 days

Lopez Plastics Co. (LPC) issued callable bonds on January 1, 2021. LPC's accountant has projected the following amortization schedule from issuance until maturity:
Date Cash Effective Decrease in Outstanding
interest interest balance balance
1/1/2021 $207,020
6/30/2021 $7,000 $6,211 $789 206,230
12/31/2021 7,000 6,187 813 205,417
6/30/2022 7,000 6,163 837 204,580
12/31/2022 7,000 6,137 863 203,717
6/30/2023 7,000 6,112 888 202,829
12/31/2023 7,000 6,085 915 201,913
6/30/2024 7,000 6,057 943 200,971
12/31/2024 7,000 6,029 971 200,000
What is the annual stated interest rate on the bonds?
a. 3.5%
b. 6%
c. 7%
d. none of the above

Answers

Answer:

c. 7%

Explanation:

According to the given scenario, the computation of the annual stated interest rate on the bonds is shown below:-

Sated interest Rate = Cash interest ÷ Face Value of the bond × 2

= $7,000÷ $200,000 × 2

= 7%

Therefore for computing the annual stated interest rate on the bonds we simply applied the above formula. hence the correct option is c

1. In the Black-Scholes option pricing model, N(d1) is the probability that a standard normal random variable takes on a value exceeding d1.
A. True
B. False
2. In the Black-Scholes option-pricing model, if volatility increases, the value of a call option will increase but the value of the put option will decrease.
A. True
B. False

Answers

1. Is False 2. Is True

What is the standard deviation of a portfolio's returns if the mean return is 15%, and the variance of returns is 184

Answers

Answer:

Standard deviation  =13.6

Explanation:

Standard deviation is measure of the total risks of an investment. It measures the volatility in return of an investment as a result of both systematic and non-systematic risks.

Non-systematic risk includes risk that are unique to a company like poor management, legal suit against the company .

Standard deviation is the sum of the squared deviation of the individual return from the mean return under different scenarios .

Further more, it can be calculated as the square root of the variance of the portfolio.

Standard deviation = √ variance

DATA

Variance = 184

Standard deviation = √184 = 13.6

Standard deviation  =13.6


Your boss has asked you to hand deliver five invitations to a special luncheon he is hosting. When you receive the
invitations, they have only first and last names but no addresses. You remember that they all live side by side in an
apartment building on Central Street. The boss left the following information with his assistant, but it is all you have. Time to
problem-solve to figure out who lives where!
This much you know for sure Carly has Greg as one next-door neighbor and the Joneses as her other next-door
neighbors. Now it's it up to you to figure out who lives in the other apartments. It may be helpful for you to draw five boxes
to use as a visual guide. Furthermore, writing names on your drawing in pencil will allow you to keep track of the neighbors
as you place them in their homes.
1 The Smiths live in the westernmost apartment, Louis lives in the easternmost
2. Leon has Mia as one next-door neighbor with TJ on the other side.
3. Both Tami and TJ live east of the Williamses.
4. TJ lives next door to the Browns
5. Tom lives west of the Garcias and east of Carly
6. Kris and Tami are next-door neighbors. The Garcias also live next to Tami but on the other side.
7. Nikki lives east of TJ.

Answers

Answer:

1)Smiths

2)Nikki

3)Williams

4)Mia

5) Leon

6)TJ

7)Browns

8)Joneses

9)Carley

10)Greg

11)Tom

12)Garcias

13)Tami

14)Kris

15)Loise

Explanation:

2. Explain the following corporate/partnership documents and procedures for healthcare
organizations
Sole Proprietorship
Partnership
Corporation
Limited Liability Entities

Answers

Can i get a thanks for no reason?

The problem with average-cost pricing regulation is that once it is in place, there is a tendency for the:________


a. ATC curve to shift upward.

b. MR curve to shift leftward.

c. D curve to shift leftward.

d. ATC curve to shift downward.

e. D curve to shift rightward.

Answers

Answer:

a.  ATC curve to shift upward

Explanation:

Average cost pricing is a form of pricing that appears as one of the ways in which the government operates a monopoly market. The government, however, may utilize average cost pricing as a tool to oversee prices monopolists may charge.

In other words, this implies that Monopolists always incline to produce less than the optimal amount boosting the prices up.

Hence, the problem with average-cost pricing regulation is that once it is in place, there is a tendency for the: "Average Total Cost curve to shift upward." This can be a result of an increase in output and reduction price

the price of envelopes was $3 a box, and Julie was willing to buy 10 boxes. Today, the price has gone up to $3.75 a box, and Julie is now willing to buy 8 boxes. Is Julie's demand for envelopes elastic or inelastic? What is Julie's elasticity of demand?​

Answers

Answer:

Her elasticity of demand is the absolute value of -0.8, or 0.8. Julie's elasticity of demand is inelastic, since it is less than 1.

Explanation:

% Change in Quantity = (8 - 10)/(10) = -0.20 = -20%

% Change in Price = (3.75 - 3.00)/(3.00) = 0.25 = 25%

Elasticity = |(-20%)/(25%)| = |-0.8| = 0.8

Erosion costs. Fat Tire Bicycle Company currently sells bicycles per year. The current bike is a standard​ balloon-tire bike selling for ​$​, with a production and shipping cost of ​$. The company is thinking of introducing an​ off-road bike with a projected selling price of ​$ and a production and shipping cost of ​$. The projected annual sales for the​ off-road bike are . The company will lose sales in​ fat-tire bikes of units per year if it introduces the new​ bike, however. What is the erosion cost from the new​ bike? Should Fat Tire start producing the​ off-road bike? What is the erosion cost from the new​ bike?

Answers

Answer:

A. $1,725,000

B. Yes

Explanation:

Calculation for the erosion cost from the new​ bike

First step to find the erosion cost

Using this formula

Erosion cost =(Sales-Production and shipping cost )*Loss of sales units per year

Let plug in the formula

Erosion cost=(100-40)*7,500

Erosion cost=60*7,500

Erosion  cost= $450,000

Second step is to calculate for the Net annual Cash flow using this formula

Net annual cash flow= (Projected selling price-Production and shipping cost)*Projected annual sales-Erosion cost

Let plug in the formula

Net annual cash flow= (370-225)*15,000 - 450,000

Net annual cash flow =145*15,000-450,000

Net annual cash flow =2,175,000-450,000

Net annual cash flow=$1,725,000

B.Yes Fat Tire start producing the​ off-road bike

Because the net annual cash flow is positive

In marketing his wooden pens and pencils to specialty-shop customers. What marketing straregy Roben was using and why?

Answers

Answer:

concentrated marketing

Deployment Specialists pays a current (annual) dividend of $1.00 and is expected to grow at 20% for 2 years and then at 4% thereafter. If the required return for Deployment Specialists is 8.5%, what is the intrinsic value of its stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Answers

Answer:

$30.80

Explanation:

Intrinsic value

V0=D1/1+k +D2/(1+k)^2 +DH+PH/(1 +k)^H

Let plug in the formula

First step

V0=$1 × 1.2/(1+0.085) +($1 × 1.2)^2/(1+0.085)^2 +($1 × 1.2)^2*1.04/(0.085-0.04)*(1+0.085)^2

Second step

V0=1.2/1.085+1.44/1.007225+1.44*1.04/0.045*1.177225

Third step

V0=1.2/1.085+1.44/1.007225+1.4976/0.052975

Fourth step

V0=1.10599+1.42967+28.26993

V0=$30.80

Therefore the intrinsic value of its stock will be $30.80

Last year Harrington Inc. had sales of $325,000 and a net income of $19,000, and its year-end assets were $250,000. The firm's total-debt-to-total-capital ratio was 15.0%. The firm finances using only debt and common equity and its total assets equal total invested capital. Based on the DuPont equation, what was the ROE

Answers

Answer:

8.94%

Explanation:

Firstly, we will need to find total equity and total debt of Harrington Inc inorder to apply the Dupont equation for getting ROE

Harrington's total debt = 15.00 % × $250,000

= $37,500

Harrington's total equity will be; applying accounting equation

Asset = Liabilities + Owner's equity

Owner's equity = Assets - Liabilities

= $250,000 - $37,500

= $212,500

Therefore, using the Dupont equation, we can calculate the ROE as;

(NI/Sales) × (Sales/Total assets) × (Total assets/Total common equity)

= 19,000/325,000 × 325,000 /250,000 × 250,000/212,500

= 8.94%

All of the following securities can be sold by both an individual holding a Series 7 General Securities License and an individual holding a Series 6 Investment Companies / Variable Annuities registered representative's license EXCEPT:

a. Unit Investment Trusts
b. Mutual Funds
c. Initial Public Offerings of
d. losed End Funds
e. Real Estate Investment Trusts

Answers

Answer:

e. Real Estate Investment Trusts

Explanation:

An individual that holds Series 6 Investment Companies / Variable Annuities initially  is allowed only to sell mutilate bonds, initial public entry of closed end bonds of which which these cannot be traded by the person unless series 7 is passed generally that is unit investment trust and variable annuities.  to sell securities like real estate investment trust,  the broader or wider  Series 7 General Securities License is needed.

Real estate investment trust (REITs) usually gives or  issue shares of beneficial interest which trade like other stocks, either on stock exchanges or over-the-counter. These securities are not redeemable.

The following data were taken from the financial statements of Gates Inc. for the current fiscal year. Property, plant, and equipment (net) $971,600 Liabilities: Current liabilities $140,000 Note payable, 6%, due in 15 years 694,000 Total liabilities $834,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during year) $834,000 Common stock, $10 par (no change during year) 834,000 Retained earnings: Balance, beginning of year $890,000 Net income 386,000 $1,276,000 Preferred dividends $33,360 Common dividends 130,640 164,000 Balance, end of year 1,112,000 Total stockholders' equity $2,780,000 Sales $21,141,000 Interest expense $41,640 Assuming that total assets were $3,433,000 at the beginning of the current fiscal year, determine the following. When required, round to one decimal place.

Answers

Answer:

Ratio of fixed assets to long-term liabilities  = fixed assets / long term liabilities = $971,600 / $694,000 = 1.4

Ratio of liabilities to stockholders' equity = total liabilities / stockholders' equity = $834,000 / $2,780,000  = 0.3

Asset turnover = net sales / average total assets = $21,141,000 / [($3,614,000 + $3,433,000)/2] = 6  

Return on total assets = (net income + interest expense) / average total assets =  ($386,000 + $41,640) / [($3,614,000 + $3,433,000)/2] = 12.14%

Return on stockholders’ equity = net income / average stockholders' equity = $386,000 / [($2,780,000 + $2,558,000) = 14.46%

Return on common stockholders' equity = net income / average common stockholders' equity = $386,000 / [($1,946,000 + $1,724,000) = 21.04%

Chester's balance sheet has $105,038,000 in equity. Further, the company is expecting net income of 3,000,000 next year, and also expecting to issue $4,000,000 in new stock. If there are no dividends paid what will beChester's book value?

Answers

Answer:

$112,038,000

Explanation:

The book value is computed as shown below:

= Equity balance + net income + issue of new stock

= $105,038,000 + $3,000,000 + $4,000,000

= $112,038,000

Sally Rubber Co. has an expected net operating profit after taxes, EBIT (1-T), of $1,700 million in the coming year. In addition, the firm is expected to have net capital expenditures of $255 million, and net operating working capital (NOWC) is expected to increase by $45 million. How much free cash flow (FCF) is Sally Rubber Co. expected to generate over the next year?

Answers

Answer:

$1,400 million

Explanation:

Calculation for free cash flow (FCF)

Using this formula

Free cash flow= Net income+ Non cash expenses-Net capital expenditures- Increase in Net operating working capital

Let plug in the formula

Free cash flow=$1,700 million + $0 million -$255 million -$45 million

Free cash flow =$1,400 million

Therefore the amount of free cash flow (FCF) that Sally Rubber Co. expected to generate over the next year will be $1,400 million

Ideally, in effective marketing planning, goals should be _____ in terms of what is to be accomplished and when.

Answers

Answer:

The answer is quantified and measurable.

Explanation:

Goals need to be quantified and measurable in effective marketing planning. To determine what needs to be accomplished and when, we must put figures to it. This makes performance measurement easier where variances at the end can be analysed.

For example, one of the marketing goals for bank A might be to onboard 100 new customers every month for a year after the launching of its new mobile app.

This example is quantified and can be measured every month.

On November 1, Alan Company signed a 120-day, 8% note payable, with a face value of $9,000. What is the maturity value of the note on March 1

Answers

Answer:

$9,236.71

Explanation:

The computation of the maturity value of the note is shown below:-

Interest Amount = ($9000 × 8%) × 120 ÷ 365

= $720 × 120 ÷ 365

= $236.71

So, the Maturity Value is

= Face value + Interest amount

= $9,000 + $236.71

= $9,236.71

Therefore for computing the maturity value we simply applied the above formula.

Exercise 10-2 Straight-Line: Amortization of bond discount LO P2 Tano issues bonds with a par value of $180,000 on January 1, 2017. The bonds' annual contract rate is 8%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 10%, and the bonds are sold for $170,862. 1. What is the amount of the discount on these bonds at issuance

Answers

Answer:

bonds' face value $180,000

coupon rate 8%, semiannual = 4%

maturity 3 years x 2 = 6 periods

market interest rate = 10% or 5% semiannual

the journal entry to record the issuance of the bonds:

January 1, 2017, bonds issued at a discount

Dr Cash 170,862

Dr Discount on bonds payable 9,138

    Cr Bonds payable 180,000

the amortization of the bond discount should be $9,138 / 6 = $1,523 on every coupon payment.

Journal entry to record payment of first coupon:

June 30, 2017, first coupon payment

Dr Interest expense 8,723

    Cr Cash 7,200

    Cr Discount on bonds payable 1,523

Which of the following statements is true of the new product development process? Question 8 options: 1) Commercialization is the process of inviting broad communities of people such as customers, employees, and scientists into the new product innovation process. 2) The purpose of the idea screening stage is to create a large number of ideas. 3) The concept testing stage is the stage at which the product and its proposed marketing program are introduced into realistic market settings. 4) Under the business analysis stage, if the new product satisfies the company's objectives, the product then moves to the product development stage. 5) A product concept is the way consumers perceive an actual or potential product.

Answers

Answer: 4) Under the business analysis stage, if the new product satisfies the company's objectives, the product then moves to the product development stage.

Explanation:

The Business Analysis stage of the New Product Development Process is a more in-depth analysis of the product to find out the viability of the product in the market and what it means for the firm.

Here the big questions are asked such as;

The Cost of the product to produceIf adequate profit will be generatedProjected market demandExisting competitors etc

Once these questions have been answered and other analysis made and the company is satisfied, the product can then move to the Product Development Stage.

It is true that under the business analysis stage, if a new product satisfies the company's objectives, it moves to the product development stage.

In a New Product Development Process, the Business Analysis stage entails in-depth analysis of the product to find out the viability of the product in the market and what it means for the firm.

The questions asked in the  Business Analysis stage includes:

The Cost of the product to produce If adequate profit will be generated Projected market demand Existing competitors

In conclusion, it is true that under the business analysis stage, if a new product satisfies the company's objectives, it moves to the product development stage.

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of a portfolio. The beta of four stocks​G, ​H, I, and Jare ​, ​, ​, and ​, respectively. What is the beta of a portfolio with the following weights in each​ asset: LOADING...​? What is the beta of portfolio​ 1?

Answers

Answer: 1.02

Explanation:

The Portfolio Beta will be the weighted average of the betas of the individual stocks in Portfolio 1.

Portfolio Beta = (weight in G * beta of G) + (weight in H * beta of H) + (weight in I * beta of I) + (weight in J * beta of J)

= (0.25 * 0.45) + ( 0.25 * 0.82) + ( 0.25 * 1.14) + ( 0.25 * 1.66)

= 0.1125 + 0.205 + 0.285 + 0.415

= 1.0175‬

= 1.02

George Hansen is General Manager for the Marigold Inn in Augusta, Georgia. Sharon Coombs is Restaurant and Food Services manager for the Inn. She reports to George. Two years ago, Sharon noticed a decline in room service business, the highest margin potion of her operation. This decline coincided with an increase in the national sales of pizza delivery and carryout firms as well as an increase in the number of empty pizza boxes from these firms being left in guest rooms in the Inn. Her immediate response was to install a pizza oven in the kitchen and offer room service pizza to guests. The effort met with modest success, though it was well below her expectations. Questionnaires completed by departing guests revealed a problem of product quality.
Focusing on this problem, Sharon improved the Inn’s pizza until blind tests judged it at least equal in quality to the products of the two major pizza delivery competitors in Augusta. Sales did not improve, convincing Sharon that the problem was a perceived mismatch between the hotel’s image and guests’ expectations of pizza makers. Guests simply did not seem to believe that the traditional steak and seafood restaurant at the Inn could make a high-quality, authentic pizza.
Based on this conclusion, Sharon presented the following proposal to George:
"Sales of room service pizza are stagnant due to guests’ misperception that our product is lower in quality than that of competitors. This misperception is based on the belief that until we disassociate our pizza from the Marigold Inn name. Therefore, to capture more room service pizza business, we should create a ‘Napoli Pizza’ image for our guest room delivery service by:
Preparing ‘Napoli Pizza’ brochures for each guest room, complete with a phone number with a prefix different from that of Marigold Inn. The number will reach a special phone in room service, which will be answered, ‘Napoli Pizza, authentic Italian pizza from old, family recipes.’
Using special ‘Napoli Pizza’ boxes for delivering room service pizza to guests.
Issuing ‘Napoli Pizza’ hats and jackets to room service personnel for use in pizza delivery. Room service waiters and waitresses will wear these garments to deliver pizza. They will change to their regular uniforms for other deliveries.

Answers

Answer:

Correct Answer:

1. Preparing ‘Napoli Pizza’ brochures for each guest room, complete with a phone number with a prefix different from that of Marigold Inn. The number will reach a special phone in room service, which will be answered,

Explanation:

This is the best logical suggestion to George because, the guests already had the impression that, the inn cannot be able to produce a very high quality and tasty pizza. Preparing "Napoli Pizza" with different information from the Inn is best alternative. the guest would believe that, the pizza is coming from another quality pizza making company.

Harris Co. takes a full year's depreciation expense in the year of an asset's acquisition and no depreciation expense in the year of disposition. Data relating to one of Harris's depreciable assets at December 31, 2015 are as follows: Acquisition year 2013 Cost $210,000 Residual value 30,000 Accumulated depreciation 144,000 Estimated useful life 5 years Using the same depreciation method as used in 2013, 2014, and 2015, how much depreciation expense should Harris record in 2016 for this asset? a. $24,000b. $36,000c. $42,000d. $48,000

Answers

Answer:

A.24,000

Explanation:

Depreciation expense for the year 2016 can be calculated as follows

DATA

Acquisition year = 2013

Cost = $210,000

Residual value = 30,000

Accumulated depreciation = 144,000

Estimated useful life = 5 years

Remaining useful life = 5 + 4 + 3 + 2 + 1 = 15

Solution

Year    Cost     Remaining life  Depreciation fraction   Depreciation exp

  1      180,000        5                         5/15                        $60,000

 2     180,000         4                         4/15                        $48,000

 3     180,000         3                         3/15                        $36,000

 4    180,000          2                         2/15                        $24,000

 5   180,0000         1                          1/15                        $12,000

Harris Co.  should record $24,000 in 2016 for this asset

In response to the new employee end-of-shift policy Brianna proposes that Ollie pay its employees on their breaks instead of making them clock out. Brianna is most likely utilize the ________ influence tactic

Answers

Answer: exchange

Explanation: Brianna is most likely to use the exchange influence tactic which is given as a tactic that suggests that making express or implied promises and trading favors. This is observed when she proposes that Ollie pay its employees on their breaks instead of making them clock out in response to the new employee end-of-shift policy. The tactics is especially useful for influencing peers and surbodinates.

If the current interest rate is 5% and your semi-annual coupon paying bond has a duration of 5.33 years, how much will the price of the bond change if the interest rate increases by 1 basis point?

Answers

Answer:

Percentage change in price = -5.33 * 0.00005

Explanation:

Percentage change in price = - modified duration * (Change in yield in BP/100)

Percentage change in price = -5.33 * ((0.01/2)/100)

Percentage change in price = -5.33 * (0.005/100)

Percentage change in price = -5.33 * 0.00005

The following data relate to factory overhead cost for the production of 10,000 computers: Actual: Variable factory overhead $262,000 Fixed factory overhead 90,000 Standard: 14,000 hrs. at $25 350,000 If productive capacity of 100% was 15,000 hours and the total factory overhead cost budgeted at the level of 14,000 standard hours was $356,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $6.00 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Answers

Answer:

Calculation of variable overhead controllable variance

Standard hours allowed for 10,000 computers = 14,000 hours

Budgeted variable expense = Standard hours allowed * variable overhead rate

= 14,000 * ($25 - $6)

= $266,000

Variable overhead controllable variance = Actual variable overhead expense - Budgeted variable overhead expense

= $262,000 - $266,000

=$4,000 (Unfavorable)

Calculation of fixed overhead volume variance:

Applied overhead = Number of computers produced * Fixed overhead rate

= 10,000 * $6.00

= $60,000

Budgeted fixed overhead = $90,000

Fixed overhead volume variance = Budgeted fixed overhead - Applied fixed overhead

 = $90,000 - $60,000

= $30,000 (Favorable)

Calculation of Total factory overhead volume variance:

Total factory overhead cost variance = Variable overhead controllable variance + Fixed overhead volume variance

= - $4,000 + $30,000

= $26,000 (Favorable)

Morgan Company issues 10%, 20-year bonds with a par value of $760,000 that pay interest semiannually. The amount paid to the bondholders for each semiannual interest payment is.

Answers

Answer: $38,000

Explanation:

The company is supposed to pay bondholders an Interest of 10% per year according to the terms of the terms of the bond.

= 10% * 760,000

= $76,000

However, payments are to be made semi-annually which will be;

= 76,000 * 1/2

= $38,000

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