Answer:
Results are below.
Explanation:
Giving the following information:
1st Quarter 2nd Quarter 3rd Quarter 4th
Quarter Budgeted direct labor-hours 9,200 8,800 9,100 9,500
The variable portion of its predetermined manufacturing overhead rate is $3.50 per direct labor hour.
Total fixed manufacturing overhead= $60,000
First, we need to calculate the total variable and fixed overhead for the year:
Total variable overhead= (9,200 + 8,800 + 9,100 + 9,500)*3.5= $128,100
Total fixed overhead= 60,000*4= $240,000
Total budgeted overhead= $368,100
Now, the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (240,000 / 36,600) + 3.5
Predetermined manufacturing overhead rate= $10.06 per direct labor hour
The following costs result from the production and sale of 4,850 drum sets manufactured by Tight Drums Company for the year ended December 31, 2019. The drum sets sell for $335 each. The company has a 30% income tax rate. Variable production costs Plastic for casing $ 164,900 Wages of assembly workers 480,150 Drum stands 208,550 Variable selling costs Sales commissions 155,200 Fixed manufacturing costs Taxes on factory 6,500 Factory maintenance 13,000 Factory machinery depreciation 73,000 Fixed selling and administrative costs Lease of equipment for sales staff 13,000 Accounting staff salaries 63,000 Administrative management salaries 143,000 Required: 1. Prepare a contribution margin income statement for the year. 2. Compute its contribution margin per unit and its contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to operating income
Answer:
Tight Drums Company
1. Contribution Margin Income Statement for the year ended December 31:
Sales Revenue $1,624,750
Variable costs 1,008,800
Contribution margin $615,950
Fixed costs 311,500
Net operating income $304,450
2a, Contribution margin per unit = $127
2b. Contribution margin ratio = 0.379
3. For each dollar, $0.38 is left to cover fixed costs and contribute to operating income.
Explanation:
a) Data and Calculations:
Production and sales units for the year ended December 31, 2019 = 4,850
Selling price per drum set = $335
Income tax rate = 30%
Variable production costs:
Plastic for casing $ 164,900
Wages of assembly workers 480,150
Drum stands 208,550
Variable selling costs
Sales commissions 155,200
Total variable costs $1,008,800
Variable cost per unit = $208 ($1,008,800/4,850)
Contribution Margin Income Statement for the year ended December 31:
Sales Revenue $1,624,750 ($335 * 4,850)
Variable costs 1,008,800 ($208 * 4,850)
Contribution margin $615,950 ($127 * 4,850)
Fixed costs 311,500
Net operating income $304,450
Contribution margin per unit = $127 ($335 - $208)
Contribution margin ratio = 0.379
For each dollar, $0.38 is left to cover fixed costs and contribute to operating income.
Fixed manufacturing costs
Taxes on factory $6,500
Factory maintenance 13,000
Factory machinery depreciation 73,000
Fixed selling and administrative costs
Lease of equipment for sales staff 13,000
Accounting staff salaries 63,000
Administrative management salaries 143,000
Total fixed costs $311,500
Dawnell is a skilled dancer. She is currently teaching modern dance full time for three high schools and makes $44,000 a year. She is now giving up her work and joining a touring dance company for the next two years. She will make $24,000 a year dancing, but gain much more in experience and connections. Dawnell’s decision will result in
Answer: d. a two year opportunity cost of $40,000 after leaving her teaching position.
Explanation:
The opportunity cost of a decision refers to the returns from the next best alternative to that decision that you would miss out on for taking the decision you took.
The next best alternative here is to teach in a school for $44,000 a year. She is giving this up for 2 years so she is giving up pay of $88,000.
However, she will be making $24,000 a year from the dance company so her net opportunity cost is:
= Amount from high schools in 2 years - Amount from dance company in 2 years
= 88,000 - (24,000 + 24,000)
= $40,000
Pharoah Industries collected $106,000 from customers in 2019. Of the amount collected, $24,200 was for services performed in 2018. In addition, Pharoah performed services worth $39,400 in 2019, which will not be collected until 2020. Pharoah Industries also paid $72,800 for expenses in 2019. Of the amount paid, $29,100 was for expenses incurred on account in 2018. In addition, Pharoah incurred $41,500 of expenses in 2019, which will not be paid until 2020.
Required:
a. Compute 2018 cash-basis net income.
b. Compute 2018 accrual-basis net income.
Answer:
A. $33,200
B. $35,000
Explanation:
A. Computation for 2018 cash-basis net income
2018 cash-basis net income = $106,000 - $73,800
2018 cash-basis net income= $33,200
Therefore 2018 cash-basis net income is $33,200
(b) Computation for 2018 accrual-basis net income
2018 accrual-basis net income = ($106,000 - $24,200 + $39,400) - ( $73,800 - $29,100 + $41,500))
2018 accrual-basis net income= $121,200 - $86,200
2018 accrual-basis net income= $35,000
Therefore 2018 accrual-basis net income is $35,000
Discuss the intellectual debates by contemporary scholars surrounding issues of development
Answer:
Intellectual scholar discuss the issues of development as something arising out of differences between the nature and nurturing given to an individual. They also talk about relative importance of early experiences versus experiences occurring at a later stage in life.
They also talk about sequential development stages with age that cause emergence of certain skills in all individuals. They also talk about various theories such as cognitive theory, developmental theory, Psychoanalytic Theories, Abnormal Behavior vs. Differences etc.
Explanation:
Intellectual scholar discuss the issues of development as something arising out of differences between the nature and nurturing given to an individual. They also talk about relative importance of early experiences versus experiences occurring at a later stage in life.
They also talk about sequential development stages with age that cause emergence of certain skills in all individuals. They also talk about various theories such as cognitive theory, developmental theory, Psychoanalytic Theories, Abnormal Behavior vs. Differences etc.
Burnham Brothers, Inc. has no retained earnings since it has always paid out all of its earnings as dividends This same situation is expected to persist in the future. The company uses CAPM to calculate its cost of equity and its target capital structure consists of common stock, preferred stock, and debt. Which of the following events would reduce its WACC?
a. The flotation costs associated with issuing new common stock increase.
b. The company's beta increases.
c. Expected inflation increases.
d. The market risk premium declines.
Answer: d. The market risk premium declines.
Explanation:
The Weighted Average Cost of Capital (WACC) takes into account the cost of equity and debt which means that if either of these costs increase, the WACC will increase as well and if any decrease, WACC will follow suit.
Market risk premium is used in the calculation of the cost of equity when using CAPM in the following manner:
= Risk free rate + Beta * Market risk premium
As can be inferred from the above formula, if the market risk premium declines, a lower cost of equity will result which would then reduce the WACC as well.
Elmer’s utility function is U(x, y) = min{x, y2}. If the price of x is $25 and the price of y is $15 and if Elmer chooses to consume 7 units of y, what must his income be? a.
Answer:
the income is $1,330
Explanation:
The computation of the income is shown below;
Given that
U(x, y) = min{x, y2}
Price of x is $25
ANd, the prcie of Y is $15
So,
25X + 15Y = M
if Y = 7,
So,
At eqm, X = Y^2 = 49
Then ,
M = 25 × 49 + 15 × 7
= 1225 + 105
= 1330
Hence, the income is $1,330
The same should be relevant and considered too
On September 1, 2015, Select Company borrowed $600,000 from a bank and signed a 12%, six-month note payable, with interest on the note due at maturity. Refer to the information above. The total amount of the current liability (including interest payable) for this loan that appears in Select Company's balance sheet at December 31, 2015, is: Group of answer choices
Answer:
B. $624,000
Explanation:
Calculation to determine The total amount of the current liability (including interest payable) for this loan that appears in Select Company's balance sheet at December 31, 2015
Current liability=$600,000 + ($600,000 *12% *4/12)
Current liability=$600,000 + $24,000
Current liability = $624,000
(September 1 2015 to December 31 2015=4 months)
Therefore The total amount of the current liability (including interest payable) for this loan that appears in Select Company's balance sheet at December 31, 2015 is $624,000
Which theory would most likely explain why a commercial bank, which usually focuses on short-term securities, would switch to long-term securities due to a change in interest rates. pure expectation liquidity premium segmented market preferred habitat
Answer:
preferred habitat
Explanation:
According to the preferred habitat theory, if the expected returns from investment of a particular investment maturity is large enough, investors would shift from their preferred maturities.
In this question, there is a shift from the preferred maturity (short-term securities) to a long-term securities when interest rate changes
The pure expectations theory assumes that bonds of any maturity are perfect substitutes for each other. For example, if an investor buys a 10 year bond and holds it for 1 year, the return is the same as buying a 1 year bond. The theory also assumes that risk premium does not exist and a security only earns its risk free rate
Liquidity premium theory states that risk premium increases with the maturity of a bond. The theory predicts that the yield curve is upward sloping due to liquidity premium
According to the segmented market theory, each bond maturity segment can be thought of as a segment market in which yield are a function of the demand and supply for funds in that maturity.
A company has fixed costs of $90,000. Its contribution margin ratio is 30% and the product sells for $75 per unit. What is the company's break-even point in dollar sales
Answer:
the break-even point in dollar sales is $300,000
Explanation:
The computation of the break-even point in dollar sales is shown below:
= Fixed cost ÷ contribution margin ratio
= $90,000 ÷ 0.30
= $300,000
by dividing the fixed cost from the contribution margin ratio we can get the break even point in dollars
hence, the break-even point in dollar sales is $300,000
2. Compare the performance of East Coast Yachts to the industry as a whole. For each ratio, comment on why it might be viewed as positive or negative relative to the industry. Suppose you create an inventory ratio calculated as inventory divided by current liabilities. How would you interpret this ratio
Answer: hello your question has some missing data attached below is the missing data
answer :
i) The current ratio is higher than lower quartile and this signifies good liquidity position
The Quick ratio is higher than the lower quartile and also higher than the median but it is lower than the upper quartile and this signifies that the value of inventory is been deducted from the current assets. to show solvency position.
ii) Inventory Turnover Ratio is higher when compared to the industry ratios
Explanation:
i) Based on each ratio
The current ratio is higher than lower quartile and this signifies good liquidity position for east coast yachts but the value of the lower quartile been lower than the median and upper quartile represents a position of lower solvency
The Quick ratio is higher than the lower quartile and also higher than the median but it is lower than the upper quartile and this signifies that the value of inventory is been deducted from the current assets to show solvency position of the company.
ii) The ratio can be interpreted as
Inventory Turnover Ratio is higher when compared to the industry ratios i.e. Inventory is been turned into cash by maximum times/as many times as possible per year.
Carla Willis will invest $34,700 today. She needs $173,500 in 14 years. Click here to view factor tables What annual interest rate must she earn
Answer:
12.18%
Explanation:
Present value = $34,700
Future Value = $173,500
Time (n) = 14 years
Interest Rate = i
Future Value = Present Value * (1+i)^n
$173,500 = $34,700 * (1 + i)^14
(1 + i)^14 = $173,500/$34,700
(1 + i)^14 = 5
1 + i = 5^(1/14)
1 + i = 1.1218284
i = 1.1218284 - 1
i = 0.1218284
i = 12.18%
So, the annual interest rate she must earn is 12.18%.
An outside supplier offers to provide Epsilon with all the units it needs at $63.05 per unit. If Epsilon buys from the supplier, the company will still incur 35% of its overhead. Epsilon should choose to:
Answer:
Make since the relevant cost to make it is $59.05
Explanation:
Calculation to determine what Epsilon should choose to:
Relevant costs to make = 8.20 + 24.20 + [41*(100%-35%)]
Relevant costs to make = 8.20 + 24.20 + (41*65%)
Relevant costs to make = 8.20 + 24.20 + 26.65
Relevant costs to make =$59.05
Therefore Epsilon should choose to: MAKE SINCE THE RELEVANT COST TO MAKE IT IS $59.05
Use your knowledge of group performance factors to complete the following sentences
The forces that create__________ are attraction to the group, resistance to leaving the group, and motivation to remain a member of the group. Your group members _________ have dressed more professionally for the client presentation. What group performance factor is this an example of?
Answer:
1. Group Cohesiveness
2. Representative
3. Norms
Explanation:
1. The forces that create GROUP COHESIVENESS are an attraction to the group, resistance to leaving the group, and motivation to remain a member of the group.
Group Cohesiveness is a term that defines the level at which group members strive to ensure the group stays together and remains successful.
2. Your group members REPRESENTATIVES have dressed more professionally for the client presentation.
3. The type of group performance factor that this is an example of is "Norm"
Group Norm is a form of rules or guidelines in which a group follows to maintain the group members' actions or behaviors.
Can explain to me what are the financial sector of Japan?
Answer:
1.1 Core Functions of the Financial Sector
Although they are often thought of as recent phenomena, financial and payment systems have evolved over several thousand years. The manner in which transactions occur has changed remarkably over that time, but the underlying objectives have not. The economic functions performed by the first modern banks of Renaissance Italy, for instance, still apply today (Freixas and Rochet 2008).
At least four core functions can be identified.[1] The financial sector should provide the following services:
Value exchange: a way of making payments.
Intermediation: a way of transferring resources between savers and borrowers.
Risk transfer: a means for pricing and allocating certain risks.
Liquidity: a means of converting assets into cash without undue loss of value.
These are all valuable tools for a community to have. The modern economy could not have developed without the financial sector also developing these capabilities. Moreover, these core functions require the financial sector to have certain supporting capabilities, such as the ability to screen and monitor borrowers. In principle, each of these functions could be performed by individuals. But there are efficiency benefits from having institutions perform them, particularly in addressing some of the informational asymmetries that arise in financial transactions.
The provision of these core functions can overlap and interact in important ways. For example, some financial products, such as deposits, combine value exchange, intermediation, risk transfer and liquidity services. With these interactions in mind, each core function is considered in more detail below.
The spread is the difference between the bid and ask prices difference between the purchase and sale prices commission charged by the broker difference between the commissions charged by full:________
Answer:
The difference between the commissions charged by Full service brokers , Discount brokers and Online brokers are is about 60% higher for Full service Brokers
Explanation:
The difference between the commissions charged by Full service brokers , Discount brokers and Online brokers are is about 60% higher for Full service Brokers
Full service brokers perform a lot of services like providing investment advice and analyzing the market on behalf of the investor therefore commissions charged by full service broker is usually higher
Both Bond Sam and Bond Dave have 10 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has three years to maturity, whereas Bond Dave has 18 years to maturity. a. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of Bond Sam and Bond Dave
Answer:
The percentage change in the price of Bond Sam is -4.917%
and
The percentage change in the price of Bond Dave is -14.621%
Explanation:
As both bonds are priced at par, hence the existing interest rate is equal to the coupon rate of 10%
Now increase the interest rate by 2%
Interest rate = 10% + 2% = 12%
Now use 12% to calculate the prices of both bonds by using the following formula
P = [ C x ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]
Bond Sam
F = Face value = $1,000
C = Periodic coupon payment = $1,000 x 10% x 6/12 = $50
r = Periodic interest rate = 12% x 6/12 = 6%
n = Numbers of periods = 3 years x 12/6 = 6 periods
Placing values in the formula
P = [ $50 x ( 1 - ( 1 + 6% )^-6 ) / 6% ] + [ $1,000 / ( 1 + 6% )^6 ]
P = $245.87 + $704.96
P = $950.83
Bond Dave
F = Face value = $1,000
C = Periodic coupon payment = $1,000 x 10% x 6/12 = $50
r = Periodic interest rate = 12% x 6/12 = 6%
n = Numbers of periods = 18 years x 12/6 = 36 periods
Placing values in the formula
P = [ $50 x ( 1 - ( 1 + 6% )^-36 ) / 6% ] + [ $1,000 / ( 1 + 6% )^36 ]
P = $731.05 + $122.74
P = $853.79
Now calculate the percentage change
Bond Sam
Percentage Change = [ ( $950.83 - $1,000 ) / $1,000 ] x 100 = -4.917%
Bond Dave
Percentage Change = [ ( $853.79 - $1,000 ) / $1,000 ] x 100 = -14.621%
The current population of a small town is 2262 2262 people. It is believed that town's population is tripling every 12 12 years. Approximate the population of the town 8 8 years from now.
Answer:
5,278
Explanation:
The computation of the population of the town after 8 years from now is as follows;
After 12 years, the total population is
= 2262 × 3
= 6,786
increment in the population is
= 6,786 - 2262
= 4,524
Per year increment is
= 4,524 ÷ 12
= 377
Now after 8 years it should be
= 2,262 + 377 × 8
= 5,278
On January 1, 2021, Baltimore Company issued $200,000 face value, 5%, 10-year bonds at 103. Baltimore uses the straight-line method for amortization. Use this information to determine the dollar value of the annual bond premium amortization. Round your answer to the nearest whole number (no cents).
Answer:
the dollar value of the annual bond premium amortization is $600
Explanation:
The computation of the dollar value of the annual bond premium amortization is shown below:
Interest paid ($200,000 × 5%) $10,000
Less: premium amortization ($200,000 × 0.03) ÷ 10) -$600
Dollar value of the interest expense $9,400
So, the dollar value of the annual bond premium amortization is $600
Annual bond premium amortized using straight-Line Method is $600.
What is straight-Line Method of Amortization of Bond?In the straight-Line Method, the bond premium or discount is charged/disbursed equally over the life of the bonds.
Given:
Face value of 5% bonds= $200,000
Maturity period= 10 years
Issue price of 5% bonds=103
Value of the annual bond premium amortization=
Interest paid=5% of $200,000=$10,000
Premium amortized= ($200,000 × 0.03) ÷ 10=$600
Interest expense=Interest paid-premium amortization
=$10,000-$600
=$9,400
Therefore, the annual bond premium amortization is $600
Learn more about straight-Line Method of Amortization of Bond here:
https://brainly.com/question/14433818
You want to buy a car, and a local bank will lend you $25,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 10% with interest paid monthly. What will be the monthly loan payment
Answer:
The monthly loan payment is:
= $531.18
Explanation:
a) Data and Calculations:
Cost of a car financed by a local bank = $25,000
Period of loan = 5 years (60 months)
Interest rate = 10%
The monthly loan payment is calculated from an online financial calculator:
Auto Price 25000
Loan Term 60 months
Interest Rate 10
Down Payment 0
Monthly Pay: $531.18
Total Loan Amount $25,000.00
Upfront Payment $0.00
Total of 60 Loan Payments
$31,870.57
Total Loan Interest $6,870.57
Total Cost (price, interest, tax, fees) $31,870.57
Apocalyptica Corp. pays a constant $4.82 dividend on its stock. The company will maintain this dividend for the next 6 years and will then cease paying dividends forever. If the required return on this stock is 11 percent, what is the current share price? Answer with 2 decimals (e.g. 45.45).
Answer:
the current share price is $20.39
Explanation:
The computation of the current share price is as follows:
The current share price is
= dividend per share × PVIFA factor for 11% at 6 years
= $4.82 × 4.2305
= $20.39
hence, the current share price is $20.39
we simply applied the above formula so that the correct value could come
Your engineering team improved one of your core products, in the context of this course you should immediately:
a. File for patent protection.
b. Consider the market
c. Perform some due dilgence to make sure you remain in compliance with the laws, rules, and regulations.
d. Begin looking at the Institutional views of the Host location.
e. Start analyzing the Resurces and capabilities needed in the Host.
Answer:
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Explanation:
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Darnell lives in an area where labor is plentiful and locations for startup are relative cheap
Answer:
The answer is "Entrepreneurship and knowledge".
Explanation:
The situation is based on the research on beginning a firm, there two key production aspects which Darnell needs to succeed would be enterprise and expertise, based on the data supplied inside the question. He needs to learn a way to create, start-up, run a new business and get depth knowledge of both the arts.
The following amounts were taken from the financial statements of Plant Company: 2012 2011 Total assets $800,000 $1,000,000 Net sales 720,000 650,000 Gross profit 352,000 320,000 Net income 150,000 117,000 Weighted average number of common shares outstanding 60,000 90,000 Market price of common stock $67.50 $39 The price-earnings ratio for 2012 is Group of answer choices 27 times. 45 times. 11 times. 2.5 times.
Answer:
the price earning ratio is 27 times
Explanation:
The computation of the price earning ratio is given below;
as we know that
price earning ratio
= Market price ÷ earning per share
= $67.50 ÷ ($150,000 ÷ 60,000 shares)
= $67.50 ÷ 2.5
= 27 times
hence, the price earning ratio is 27 times
Therefore the same should be considered
A consumer has $180 in monthly income to spend on two goods, D and G, where D is on the y-axis. The price of good D, PD is $6, and the marginal rate of transformation is -2. How many units of good G can be purchased if all income is used to purchase good G
Answer:
The number of units of good G that can be purchased if all income is used to purchase good G is 15 units.
Explanation:
Since D is on the y-axis, indicating G is on the x-axis, the formula for calculating the marginal rate of transformation (MRT) is given as follows:
MRT = - PG / PD …………………. (1)
Where:
MRT = Marginal rate of transformation = -2
PG = Price of good G = ?
PD = Price of good D = $6
Substituting the relevant values into equation (1) and solve for PG, we have:
-2 = - PG / $6
PG = -2 * (-6) = $12
Therefore, we have:
Number units of good G if all income is spent on it = Monthly income / PG = $180 / $12 = 15
Therefore, the number of units of good G that can be purchased if all income is used to purchase good G is 15 units.
Suppose that XTel currently is selling at $30 per share. You buy 800 shares using $18,000 of your own money, borrowing the remainder of the purchase price from your broker. The rate on the margin loan is 8%.
a. What is the percentage increase in the net worth of your brokerage account if the price of XTel immediately changes to (a) $33; (b) $30; (c) $27? (Leave no cells blank - be certain to enter "0" wherever required. Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.)
b. If the maintenance margin is 25%, how low can XTel’s price fall before you get a margin call? (Round your answer to 2 decimal places.)
c. How would your answer to requirement 2 would change if you had financed the initial purchase with only $12,000 of your own money? (Round your answer to 2 decimal places.)
d. What is the rate of return on your margined position (assuming again that you invest $18,000 of your own money) if XTel is selling after one year at (a) $33; (b) $30; (c) $27? (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.)
e. Continue to assume that a year has passed. How low can XTel’s price fall before you get a margin call?
The type of income statement that reports a series of subtotals such as gross profit, operating income, and income before taxes is a ______ income statement.
A. multiple-step
B. classified
C. single-step
D. current
Answer:
A. multiple-step
Explanation:
The Multiple-Step Income statement is used to reports a series of subtotals such as gross profit, operating income, and income before taxes. This allows the users to identify income generated form Primary and Secondary Activity of the Business.
The shareholders of Flannery Company have voted in favor of a buyout offer from Stultz Corporation. Information about each firm is given here:
Answer:
The answer is "$4.311".
Explanation:
Calculating the EPS after the merger:
[tex]\text{Stultz Corp Post Merger Earnings} = 220,000 + 1,000,000 \\\\[/tex]
[tex]= \$1,220,000[/tex]
[tex]\to \text{Number of Shares Post Merger:} \\\\=\frac{99,000}{3} + 250,000\\\\ = 283,000\\\\\text{EPS Post Merger} =\frac{\text{Stultz Corp Post Merger Earnings}}{\text{Number of Shares Post Merger}} \\\\[/tex]
[tex]= \frac{1,220,000}{283,000} \\\\= \$4.311[/tex]
Ruby Company produces a chair that requires 7 yards of material per unit. The standard price of one yard of material is $14.40. During the month, 6,500 chairs were manufactured, using 44,600 yards at a cost of $15.12 per yard. Enter favorable variances as negative numbers. (a) Determine the price variance. $fill in the blank 1 (b) Determine the quantity variance. $fill in the blank 3 (c) Determine the cost variance. $fill in the blank 5
Answer:
See below
Explanation:
a. Price variance
= (Actual price - Standard price) × Actual material
= ($15.12 - $14.40) × 44,600
= $0.72 × 44,600
= $32,112 Unfavourable
b. Quantity variance
= (Actual quantity - Standard quantity) × Standard price
= [44,600 - (6,500 × 7) ] × $14.40
= (44,600 - 45,500) × $14.40
= -900 × $14.40
= $12,960 Favourable
C. Cost variance
= Actual cost - Standard cost
= (44,600 × $15.12) - (7 × 6,500 × $14.40)
= $674,352 - $655,200
= $19,152Unfavourable
Bartosiewicz Clinic uses client-visits as its measure of activity. During January, the clinic budgeted for 3,100 client-visits, but its actual level of activity was 3,080 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for January: Data used in budgeting: Fixed element per month Variable element per client-visit Revenue - $ 35.10 Personnel expenses $ 27,100 $ 11.10 Medical supplies 1,100 5.10 Occupancy expenses 10,100 1.00 Administrative expenses 6,100 0.20 Total expenses $ 44,400 $ 17.40 Actual results for January: Revenue $ 124,660 Personnel expenses $ 72,010 Medical supplies $ 22,702 Occupancy expenses $ 14,610 Administrative expenses $ 8,115 The activity variance for net operating income in January would be closest to:
Answer:
$354 Favorable
Explanation:
Net Operating Income in Planned budget = Revenue - Total Expense
Net Operating Income in Planned budget = (3,100*$35.10) - (3,100*$17.40 + $44,400)
Net Operating Income in Planned budget = $108,810 - $98,340
Net Operating Income in Planned budget = $10,470
Net Operating Income in Flexible budget = Revenue - Total Expense
Net Operating Income in Flexible budget = (3,080*$35.10) - (3,080*$17.40 + $44,400)
Net Operating Income in Flexible budget = $108,108 - $97,992
Net Operating Income in Flexible budget = $10,116
Activity variance for net operating income = Net Operating Income in Planned budget - Net Operating Income in Flexible budget
Activity variance for net operating income = $10,470 - $10,116
Activity variance for net operating income = $354 Favorable
What is an example of an interest leading to a career choice
Answer:
Making music leading to becoming a musician, basketball leading to wanting to be in the nba, etc.
Explanation:
