The Cost of Merchandise Sold or Cost Of Goods Sold COGS =
Total Costs of Units Available for Sale = $3,000.00
Weighted Average Cost = $133.33.00
COGS = (Total Costs of Units Available for Sale + Weighted Average Cost)
COGS = $3,000.00 + $133.33.00
COGS = $399,990.00
Explanation:
SOLUTION
Actual Cost of All Inventory (ACOI) = (Beginning of Inventory + Purchases)
Beginning of Inventory = $1,000.00
Purchases = $3,000.00
ACOI = $1000.00 + $3,000.00
ACOI = $4,000.00.
Total Units of Inventory = (Beginning of Inventory units + Purchases units)
Beginning of Inventory units = 10 Units
Purchases units = 20 Units
Total Units of Inventory = 10 + 20
Total Units of Inventory = 30 Units.
The Weighted Average Cost
WAC = Actual cost Of Inventory ÷ Total Units of Inventory
Actual cost Of Inventory = $4,000.00
Total Units of Inventory = 30 Units
WAC = $4,000.00 ÷ 30 Units
WAC = $133.33
Ending Inventory = Ending inventory x WAC
Ending Inventory = 12 units x $133.33
Ending Inventory = $1,599.96
The Cost of Merchandise Sold or Cost Of Goods Sold COGS =
Total Costs of Units Available for Sale = $3,000.00
Weighted Average Cost = $133.33.00
COGS = (Total Costs of Units Available for Sale + Weighted Average Cost)
COGS = $3,000.00 + $133.33.00
COGS = $399,990.00
What is an example of merchandise?
Merchandise is the term used for any product that can be sell or buy. Any good for sale is merchandise, some examples include groceries in supermarket, clothes in retail store, electronics on a website or raw materials in a manufacturing warehouse.
What are the 5 types of merchandise?
The top 5 types of merchandising are product, retail, vision, digital, and omnichannel. Though classified into 5 dissimilar categories, they are primarily interrelated. For example, visual merchandising is correlated with product merchandising.
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the amount of section 1245 depreciation recapture that will be taxed as ordinary income is the lesser of (1) the (realized/recognized) gain on the sale or (2) total on the asset.
The amount of section 1245 depreciation recapture that will be taxed as ordinary income is the lesser of recognized the (realized/recognized) gain on the sale or total accumulated depreciation on the asset.
If you promote Section 1245 property, you need to recapture your benefit as everyday profits to the volume of your in advance depreciation deductions at the asset that turned into sold. Any benefit as much as the quantity of the formerly taken depreciation may be taxed at everyday profits rates
Sections 1245 and 1250 had been enacted to shut the loophole that resulted from permitting depreciation deductions on property to offset everyday profits whilst taxing benefit from the sale of those depreciated property as capital gains.
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mr. mark develops plans to have his seventh graders compare and contrast literary characters in the giver. which level of bloom's taxonomy aligns with this activity
Mr. mark develops plans to have his seventh graders compare and contrast literary characters in the giver the level of Analysis of bloom's taxonomy aligns with this activity
What is Analysis
In Bloom's Taxonomy; The ability to dissect a piece of information into its constituent elements in order to comprehend its organizational structure is referred to as analysis. This may entail the recognition of the organizational principles at play as well as the identification of the components and examination of the relationships between them. Because they demand an upper level of intellectual ability compared to understanding and application, these learning outcomes recognize errors in logic when reasoning. establishes a distinction between facts and conclusions. determines whether data is relevant. analyses a work's organizational structure (art, music, writing). understanding of the material's substance and structural layout.
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a plant asset originally cost $64,000 and was estimated to have a $4,000 salvage value at the end of its 5-year useful life. if at the end of three years, the asset was sold for $12,000, and had accumulated depreciation recorded of $36,000, the company should recognize a select an option on disposal in the amount of $enter profit or loss on disposal in dollars .
According to the given depreciation, the company should recognize a loss on disposal in the amount of $16,000
Depreciation:
In accounting, depreciation is the process of allocating the cost of long‐lived plant assets other than land to expense over the asset's estimated useful life.
Given,
A plant asset originally cost $64,000 and was estimated to have a $4,000 salvage value at the end of its 5-year useful life. if at the end of three years, the asset was sold for $12,000, and had accumulated depreciation recorded of $36,000.
Here we need to find the company should be in loss or profit.
While we looking through the given question, we have identified that following,
Original cost = $64,000
Selling price = $12,000
Depreciation = $36,000
In order to find the profit or loss, we have to subtract the selling price and depreciation amount by the original cost, then we get,
=> (36,000 + 12000) - 64000
=> 48000 - 64000
=> - 16000
Therefore, here the company faces the loss of $16,000.
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the demand curve for labor is also question content area bottom part 1 a. the supply curve for the output labor is used to produce. b. the demand curve for the output produced with labor since the demand for labor is a derived demand. c. the marginal product of labor curve. d. the marginal revenue product of labor curve.
The demand curve for labor is also question content area bottom part, the demand curve for the output produced with labor since the demand for labor is a derived demand.
What is demand curve?A demand curve refers to a graphical representation of the relationship between the price of a goods and the quantity demanded over a period of time. In a typical representation, price is displayed on the left vertical axis and quantity demanded is displayed on the horizontal axis.A demand curve refers to a graph that shows the quantity demanded at all the prices. A demand curve is a graphical representation of a demand plan, so it is sometimes called a demand plan. Changes in factors such as average income and preferences can shift the entire demand curve left or right.This increases or decreases the quantity requested at a given price. Ceteris paribus assumption. The demand curve relates price and quantity demanded, assuming other factors remain unchanged.To learn more about demand curve from the given link :
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if the government would like to maintain the same growth trajectory for the economy, which of the policy types below should it implement?
Neutralism or a "neutralist strategy" is an international strategy position wherein a state expects to stay nonpartisan in ongoing conflicts. Armed neutrality refers to a sovereign state that reserves the right to engage in conflict if it is attacked by a warring party.
Is fiscal policy indifferent?
In this sense, fiscal neutrality means that the government's overall fiscal policy has no effect on the economy's total demand. According to Keynesian economics, this kind of fiscal policy will neither expand nor contract aggregate demand because the government does not have a budget deficit nor a surplus.
How does neutrality work?
A nation is considered neutral under international law if it does not intervene in international armed conflict involving other belligerent parties.It cannot permit a belligerent party to use its territory as a military base, take sides, or supply military equipment.
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analyze these data, available in the infection data file at the text website. using logistic regression, describe and make inference about the treatment effect.
Data analysis is the methodical application of logical and/or statistical techniques to describe and illustrate, summarize and assess, and evaluate data.
What is Data Analysis? Even though statistical techniques can be used in data analysis for qualitative research, analysis frequently evolves into a continuous iterative process in which data is continuously gathered and analyzed almost simultaneously. In fact, throughout the entire data collection phase, researchers typically examine observations for patterns. The type of qualitative approach used (field study, ethnography content analysis, oral history, biography, unobtrusive research) and the data's format determine the analysis's format. The correct and appropriate analysis of research findings is crucial to maintaining data integrity. Poor statistical analyses skew scientific results, mislead lay readers, and may harm the public's perception of research (Shepard, 2002). Integrity concerns are relevant to the analysis of non-statistical data just as much.To Learn more About Data analysis refer to:
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Record the following transactions on the books of Pharoah Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) on July 1, Pharoah Co. sold merchandise on account to Stacey Inc. for $24,930, terms 4/10, 1/30. (b) On July 8, Stacey Inc. returned merchandise worth $2,230 to Pharoah Co. (c) On July 11, Stacey Inc. paid for the merchandise.
Journal entry for the transactions are mentioned as below.
What is Sales Revenue?The amount of money produced by the firm as a result of its business activities is represented by sales revenue. This is a temporary account that appears solely on the income statement.
This also includes contra-accounts such as sales discounts, sales returns, and allowance, which are all removed from gross sales to arrive at net sales.
The journal entry of the above transactions are recorded as follows:-
No. Date Account titles Debit Credit
a 1-Jul Accounts receivable 24,930,
To Sales revenue 24,930,
b 8-Jul Sales returns and allowances 2,230
To Accounts receivable 2,230
c 11-Jul Cash 21,825
Sales discount (22,500 x 3%) 675
To Accounts receivable 22,500
Therefore, it can be recorded that transactions on the books of Pharaoh Co.
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When management fails to set priorities for work, employees tend to _______. A. Decide which tasks to do by flipping coins b. Schedule tasks over a reasonable period of time c. Assume each task is of equal importance d. Work on one task to completion before moving on.
When management fails to set priorities for work, employees tend to Assume each task is of equal importance.
How to set Priorities?
If setting priorities were simple, every business would be running at full capacity.
But when attempting to establish priorities for teams, various difficulties might arise.
The first problem that could arise is the use of the same firm resources—such as personnel, tools, and equipment—by multiple concurrent projects.
It makes sense that nothing will have the team members' full attention if they are each devoting 20% of their time to five separate tasks. As a result, quality suffers. Or nothing at all happens.
What are the skills of an Effective Administrator?
Here, it is understood that an administrator is someone who oversees the actions of others and assumes accountability for the accomplishment of particular goals through their efforts. According to this description, effective administration appears to depend on the technical, human, and conceptual development of three fundamental talents. Although it would be unreasonable to claim that these abilities are unrelated, there may be actual value in looking at each ability in isolation and developing it on its own.
When management fails to set priorities for work, employees tend to Assume each task is of equal importance.
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Answer: C. Assume each task is of equal importance
hope this helps <3
scotts miracle gro uses john deere equpment to keep their supply chain running. in this video, youll learn more about the way scotts miracle gro distributes products
Scott’s Miracle-Gro
As the largest supplier of lawncare products on Earth, Scott’s Miracle-Gro knows something about covering a lot of ground, and the company’s supply chain operations are no exception. As Senior Vice President of Supply Chain Dave Swihart explains, the company’s reach covers North America and western Europe, with more than 40 manufacturing facilities and 18 distribution centers moving more than 11,000 orders a week, adding up to nearly 10 billion pounds of product per year.
Who is Scotts Miracle-Gro owned by?
In the U.S., the Company's Scotts®, Miracle- Gro® and Ortho® brands are market-leading in their categories, as is the consumer Roundup® brand, which is marketed in North America and most of Europe exclusively by Scotts and owned by Monsanto.
How many years does Miracle Grow last?
According to the maker, Scotts Company LLC, traditional Miracle-Gro plant food generally has an indefinite shelf life as long as it is stored correctly. As for liquid plant food products, Miracle-Gro reps have suggested these are viable for 8 years but are best used within 3 years of purchase.
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to determine the dutiable status of goods, it is necessary to know their classification, country of origin, and:
It is required to understand a product's categorization, country of origin, and value information in order to establish if it is subject to duty.
What exactly is dutiable status?The legal standing of imported commodities at the time of entrance for the purposes of adhering to the tariff and customs legislation is known as their "dutiable status."
Articles that may need the payment of customs duty are said to as dutiable. Each item has a unique duty rate, which is established by a number of variables, such as where you purchased the item, where it was manufactured, and what material it is composed of.
Where are items subject to duty kept?A bonded warehouse, often known as a bond, is a structure or other secure place where dutiable commodities may be handled, manufactured, or stored without having to pay duty. It could be run by the government or by a private company. A customs bond must be posted with the government in the latter scenario.
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if the loan to value required by the fha mortgage is no higher than 96.5% how much down payment is required from the borrower
'If the loan to value required by the FHA mortgage is no higher than 96.5% 3.5 percent much down payment is required from the borrower.
An FHA-guaranteed loan is a mortgage with a US Federal Housing Administration mortgage guarantee offered by an FHA-approved lender. FHA mortgage insurance protects lenders against losses.
The Federal Housing Administration (FHA) is part of the United States. Housing and Urban Development Department. We offer mortgage insurance for loans from FHA-approved lenders.
FHA loans are insured by the Federal Housing Administration and provided by FHA-approved lenders. Unlike FHA loans, traditional loans do not have government insurance or guarantees. Mortgage insurance is mandatory for FHA loans. With traditional loans, you can avoid this by paying back at least 20%.
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a time standard was set as 0.20 hour per unit based on the 20th unit produced. assume the task has a 85 percent learning curve. refer to exhibit 6.4. what would be the expected time of the 40th, 80th, and 160th units? (do not round intermediate calculations. round your answers to 2 decimal places.)
The expected time 160th: 0.20 × 0.90 × 0.90 × 0.90 = 0.15 hours.
What is time?Time can be described in mathematics as an ongoing and continuous series of events that take place one after another, from the past through the present, and into the future.
The duration of events or the gaps between them can be measured, compared, or even ordered using time.
Time is defined by physicists as the flow of events from the past through the present and into the future. In essence, a system is timeless if it is unchanging.
When describing events that take place in three-dimensional space, time can be thought of as the fourth dimension of reality.
We require time to work, eat, sleep, and do all of our daily tasks. Additionally, we require time to get to know and comprehend our partners, our kids, and our buddies.
40th: 0.20 × 0.90 = 0.18 hours
80th: 0.20 × 0.90 × 0.90 = 0.16 hours
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which test of whether an organization is well designed relates to assessing if the design will require a major cultural shift?
360 Degree Feedback is an analysis system or method within which workers receive confidential, anonymous feedback from those that work around them. This usually includes the employee's manager, peers, and direct reports.
A practical structure is arguably the foremost common style of structure. The target of most little corporations is to cluster their employees by department as their businesses grow, and grouping employees by numerous functions usually makes the foremost sense.
Primary shoppers typically area unit those paying for the consultant's services. These shoppers will be laid low with the engagement or intervention; however, they might not understand the engagement activity or that it'll concern them.
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What is the difference between MNC and TNC?.
Multinational businesses have a centralized management structure and operate in several nations. Despite having several locations throughout the world, multinational corporations lack a centralized management system.
What is a Multinational Company?A firm is considered a multinational corporation (MNC) if it conducts business in at least one nation other than its own. It also produces at least 25% of its revenue outside of its own nation, according to certain definitions.
A multinational corporation typically maintains branches, factories, or other facilities across the world in addition to a centralized headquarters that organizes worldwide administration.
International, stateless, or transnational corporate entities or businesses are other names for multinational corporations. Some might have budgets that are larger than those of small nations.
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g a city makes an interest payment of $6 million on its utility fund revenue bonds that were issued to finance new sewer lines. in the utility fund statement of cash flows, the payment would be reflected as a cash flow from
In the utility fund statement of cash flows, the payment would be reflected as a cash flow from capital and related financing sources.
What is a utility fund ?A portfolio of securities from the utilities industry makes up a utility fund.Individual investors can participate in a diversified, expertly managed portfolio at a reasonable cost by purchasing shares in a fund, which reduces the risk involved with picking individual stocks. Utility funds can have a domestic or international market focus and typically represent a wide range of market capitalizations. Both traditional utility funds and exchange-traded funds (ETFs) can be classified as utility funds. Utility index funds are typically passively managed, which means that there is no management team making investment decisions. They aim to match their performance to a sector index or benchmark. Both passive and active management options are available for traditional utility funds and ETFs.In the utility fund statement of cash flows, the payment would be reflected as a cash flow from capital and related financing sources.
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Capital and related financing activities.
What is Capital and related financing activities ?The purchase and sale of capital assets, borrowing money to build, renovate, or improve capital assets, repayment of the principal and interest amounts, and paying for capital assets purchased from vendors on credit are all examples of capital and related financing activities that generate cash flow.earnings from bond sales or bond refunds, as well as other short- or long-term borrowings used to purchase, build, or renovate capital assetscapital grants that were given to the government enterprise, as well as other contributions for capital assets, are received.Making and collecting loans (apart from programme loans; see Cash Flows from Operating Activities) as well as buying and selling debt or equity instruments are included in investment activities' cash flows.Learn more about Cash flow refer to :
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sardi incorporated is considering whether to continue to make a component or to buy it from an outside supplier. the company uses 12,700 of the components each year. the unit product cost of the component according to the company's cost accounting system is given as follows: item amount direct materials $ 8.50 direct labor 5.50 variable manufacturing overhead 1.30 fixed manufacturing overhead 3.30 unit product cost $ 18.60 assume that direct labor is a variable cost. of the fixed manufacturing overhead, 30% is avoidable if the component were bought from the outside supplier. in addition, making the component uses 4 minutes on the machine that is the company's current constraint. if the component were bought, time would be freed up for use on another product that requires 8 minutes on this machine and that has a contribution margin of $4.90 per unit. when deciding whether to make or buy the component, what cost of making the component should be compared to the price of buying the component? (round your intermediate calculations to 2 decimal places.)
The cost of making the component is 18.74.
Particulars Amount
Direct Material 8.50
Direct Labour 5.50
Variable cost 1.30
is is is is 0.99
Variable portion in fixed cost at 30% Contribution loss on machine hours used for another product
(4.90 X 4/8)
= 2.45
Total cost to be considered
18.74.
Note: 70% of Fixed cost is not even when we buy the component from the outside the market and
hence this cost will not be considered for decision making.
The cost of making the component should be compared to the price of buying the component was 18.74
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in performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. oriole company enters sales and sales taxes separately on its cash register. on april 10, the register totals are sales $30,000 and sales taxes $1,500. 2. sheridan company does not segregate sales and sales taxes. its register total for april 15 is $22,260, which includes a 6% sales tax. Prepare the entry to record the sales transactions and related taxes for each client.
The entry to record the sales transactions and related taxes for each client is :
Date Account title Debit Credit
April 10 Cash $ 31, 500
Sales revenue $ 30, 000
Sales tax payable $ 1 ,500
Date Account title Debit Credit
April 10 Cash $ 22, 260
Sales revenue $ 21, 000
Sales tax payable $ 1, 260
How to record the sales transaction?The sales amount would have to be credited to the Sales revenue account to show that the company made sales of $30, 000. Sales taxes would also need to be credited to the sales tax payable.
Then the cash account for Oriole Company would then be debited for the total of the sales and sales taxes.
The Sheridan Company will do the same thing but will have a sales tax amount of:
= 22, 260 x 6%
= $1, 260
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what is a business task? question 3 options: 1) interoperability 2) service-oriented architecture 3) loose coupling 4) service
Service-oriented architecture is a business task. A service in SOA is an independent piece of software that is created to carry out a particular task.
An application can be created using services that can communicate with each other across various platforms and languages thanks to the service-oriented architecture (SOA) software development model. A service in SOA is an independent piece of software that is created to carry out a particular task. With the aid of a loosely coupled communication system, service-oriented architecture enables various services to exchange information or coordinate an action.
A client of a service is said to be "loosely coupled" if they are not completely dependent on the service they need. Additionally, even when they are unrelated, the client, which can also be a service, can communicate with other services.
Interoperability between apps and services is a benefit of SOA for organizations. Additionally, SOA will lower the costs associated with creating business service solutions and ensure that scaling up already-existing applications is simple.
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If a firm uses absorption costing, which of the following actions taken by management would increase gross profit even if sales do not increase?a) Decreasing production and using items from inventory for sales.b) Increasing production and building up inventoryc) Increasing fixed costs by investing in new production technology.d) Increasing variable costs by purchasing higher-quality materials.
If a firm uses absorption costing, which of the following actions taken by management would increase gross profit even if sales do not increase .b) Increasing production and building up inventory.
What is absorption costing in management accounting?
A managerial accounting technique known as "absorption costing," also known as "full costing," is used to record all expenses related to producing a specific product. This strategy accounts for both direct and indirect costs, including direct materials, direct labor, rent, and insurance.
Absorption costing's key benefit is that it complies with GAAP and records profits more precisely than variable costing. In contrast to variable costing, which solely takes into account variable costs, absorption costing accounts for all production expenses.
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suppose a prolonged war in a country destroys 30% of the capital stock. in the long run, the price level will as .
Suppose a prolonged war in a country destroys 30% of the capital stock. In the long run, the price level will increase as oth long run and short run aggregate supply decrease.
What is capital stock?The number of common and preferred shares that a corporation is permitted to issue recorded on the balance sheet under shareholders' equity is known as "capital stock."The maximum number of shares that a corporation can ever have outstanding is equal to the quantity of capital stock.By issuing capital stock, a business can raise funds without taking on debt.The corporation loses more control, and the value of its outstanding shares is diluted when new capital stock is issued.What effect does capital stock have on price level?The aggregate supply curve is directly influenced by capital stock, so as capital stock rises, so does the aggregate supply.The aggregate supply curve's rightward shift exemplifies this scenario.As a result, output rises and the price level decreases.
Suppose a prolonged war in a country destroys 30% of the capital stock. In the long run, the price level will increase as oth long run and short run aggregate supply decrease.
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1. Which of the following statements about the payback method is true?
A. The payback method is always consistent with the goal of shareholder wealth maximization.
B. The payback method represents the number of years it takes a project to recover its initial
investment plus a required rate of return.
C. The payback method ignores cash flows after the payback period (later cash flows).
D. The payback method always agrees with the NPV method.
In capital planning, the term "payback period" describes the amount of time needed to recover investment costs or to break even. Hence option C is True .
What is Payback Method ?The payback technique estimates the time required to "pay back" or repay the initial expenditure.
The time it takes to generate enough cash revenues from an investment to cover the cash outflow(s) for the investment is known as the payback period, which is commonly expressed in years.
A $1000 investment that yielded $500 at the end of each of the first and second years would have a two-year payback time, for instance.
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if you had $1000 in a simple interest account paying an interest rate of 5% per period, how many periods would it take for the account balance to double?
Given the principal amount = 1000$, and an interest rate of 5%. Given, the account balance should be double in a certain time period. Therefore, we have to find the time period. Therefore, the amount would be 2000$.
The formula is Amount = Principal Amount + Interest.
And, the interest is (Principal Amount * Time period * Rate of interest) / 100.
Amount = Principal Amount + Interest
=> Interest = (1000 * T * 5) / 100 [T is unknown]
Therefore, the Interest is 50T.
2000$ = 1000$ + 50T
=> 50T = 1000
=> T = 20
Therefore, the Time period is 20 years.
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Lydia wants to compile a list of clients who have made purchases from her company over the past six months. The best source for this information is likely her company's
databases.
Use line charts to see data trends, typically over time (like stock price changes over five years or website page views for the month).
Which of the following is an example of primary research?Primary research examples include, Interviews (telephone or face-to-face) (telephone or face-to-face) Surveys (online or mail) (online or mail) Questionnaires (online or postal) (online or mail).Use line charts to see data trends, typically over time (like stock price changes over five years or website page views for the month). As a result, it's easy to see how one value changes in relation to another.Consider keeping them informed of your work while you create the report and including them in the process to ensure that your business report fits the needs of the target audience.The complete question is,
Which kind of question is intended to elicit the response that the survey creator desires and results in erroneous and useless information as a result?
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a country in south america allows its currency to nominally float freely against other currencies, but the government has the right to intervene if it believes that the currency has deviated too far from its fair value. in this country, the value of currency is determined based on a float system.
A Dirty Float is the country, the value of currency is determined based on a float system.
A filthy float, also known as a managed float, is a floating exchange rate system run by the central bank of a nation in which there are sporadic interventions in the foreign exchange markets to affect supply and demand with the goal of reducing perceived volatility in the currency.
As indicated in the question, the Central Bank will often intervene when it thinks the exchange rate has strayed too far from its fair value. The dirty float method protects a nation's foreign exchange market from potential outside economic effects.
Thus, A Dirty Float.
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briefly explain how the federal reserve acquires assets through open-market operations (i.e., reverse-repo trades)
A reverse repurchase agreement conducted by the table, additionally referred to as a “reverse repo” or “RRP,” is a transaction wherein the table sells a security to an eligible counterparty with an agreement to repurchase that identical protection at a unique price at a selected time within the destiny.
A reverse repo is, logically sufficient, the opposite of that, wherein the bank makes a brief-time period, assured loan to the central bank. opposite repos are a sign of excess liquidity in the machine, meaning that banks have money left over after overlaying their liabilities and making an investment and lending what they're relaxed with.
A repurchase agreement (repo) is a financial transaction in which one birthday celebration sells an asset to any other birthday party with a promise to repurchase the asset at a pre-certain later date (a reverse repo is the equal transaction visible from the angle of the safety customer).
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which of the following is not one of the twelve pillars of competitiveness? which of the following is not one of the twelve pillars of competitiveness? technological readiness. regional trade agreements. infrastructure. goods market efficiency.
Regional trade agreements are not one of the twelve pillars of competitiveness. Hence, option B is correct.
What is Regional trade agreements?A regional trading agreement is a treaty that two or more countries join to encourage the unhindered flow of goods and services across national borders. The treaty contains internal rules that signatory countries abide by among themselves.
Because they usually seek to lower trade barriers among their parties, trade agreements are significant. Larger trade flows are made possible, along with opportunities for business growth and increased customer choices.
Thus, option B is correct.
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BatCo makes metal baseball bats. Each bat requires 1 kg. of aluminum at $18 per kg. and 0.25 direct labor hours at $20 per hour. Overhead is assigned at the rate of $40 per labor hour. Assume the actual cost to manufacture one metal bat was $40. Compute the cost variance and classify it as favorable or unfavorable. (Round Qty per unit to 2 decimal places.)
Cost variance is 7 unfavorable. An unfavorable price variation occurs when the actual cost incurred exceeds the standard cost.
How do you know if a price variance is favorable or unfavorable?A beneficial price variance occurs when the actual cost incurred is less than the standard cost. An unfavorable price variation occurs when the actual cost incurred exceeds the standard cost.Variance in accounting simply refers to the difference between budgeted and actual figures. Favorable variations are defined as higher income and reduced costs. Unfavorable variations are defined as lower income and greater costs.A favorable variance occurs when real revenue exceeds budget or actual spending exceeds budget. This is the same as a surplus, which occurs when expenditure exceeds available income.Given :
Each bat requires 1 kg of aluminum at $18 per kg
0.25 direct labor hours at $20 per hour.
Overhead is assigned at the rate of $40 per direct labor hour.
Assume the actual cost to manufacture one metal bat was $40.
Estimated cost= 18 + 0.25*20 + 0.25*40= 33
Actual cost= 40
Cost variance= 7 unfavorable.
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statements ranking information risks and identifying security goals are included in a(n) group of answer choices business continuity plan. business impact analysis. risk assessment. security policy. aup.
A business impact analysis (BIA) is a methodical procedure to identify and assess the potential impacts of a disruption to crucial business operations as a result of a catastrophe, accident, or emergency. An organization's business continuity strategy must include a BIA (BCP). It includes an investigative phase to identify any threats and weaknesses and a planning phase to create risk-reduction plans.
What five things does a business impact analysis cover?
Gartner, for instance, advises looking into the following 5 major impact areas: financial, reputational, social and regulatory, output of production, and environmental.
What is security risk assessment?
Key security measures in applications are identified, evaluated, and implemented through a security risk assessment. Additionally, it emphasizes preventing application security flaws and vulnerabilities. An organization can see the application portfolio holistically—from the viewpoint of an attacker—by conducting a risk assessment
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a difference between variable costing and full absorption costing is due to differences in the treatment of: g
The way fixed manufacturing overhead expenses are handled differs between the absorption and variable costing approaches. All production expenses are "absorbed" through absorption costing, which also includes fixed manufacturing overhead as product costs.
What distinguishes variable costing from full absorption costing?Through the use of absorption costing, fixed overhead costs are divided across all units produced during the period. When employing variable costing, all fixed overhead expenses are combined and reported as a single line item separate from the price of the goods that have been sold or are still on the market.
What does "variable costing" mean?In managerial and cost accounting, the notion of variable costing refers to the exclusion of fixed manufacturing overhead from the product-cost of production. The approach stands in contrast to absorption costing, which allocates the fixed production costs to the output of products.
By "Full absorption costing," what do you mean?In full absorption costing, overhead is allocated (absorbed) into the cost of inventories. Variable production overhead expenses shall be allocated to each unit of production based on the actual use of the production facilities, according to ASC 330-10-30-1 through ASC 330-10-30-8.
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the following selected list of accounts with their normal balances was taken from the general ledger of wallace company as of december 31, 2016: common stock, $1 par wallace $ 380,000
B. Stockholders' equity totals $1,742,000, with total paid-in capital of $1,810,000
The amount that a company's founders have invested in the company is referred to as equity held by shareholders. This includes both the money they have directly invested and all of the earnings the company has made and reinvested since it was founded.
Paid-in capital, which includes the par value and any further payments, is the total amount of cash or other assets shareholders have given a firm in exchange for stock. The amount over a stock's par value is the only thing that is meant by the phrase "extra paid-in capital."
The question is incomplete. The full question is:
The following selected list of accounts with their normal balances was taken from the general ledger of Wallace Company as of December 31, 2016:
Common stock, $1 par Wallace: $ 380,000
Retained earnings: 262,000
Paid-in capital in excess of par - preferred: 70,000
Treasury Stock: 330,000
Preferred stock, $100 par: 600,000
Paid-in capital in excess of par-common: 760,000
Given the above information, at the end of 2016:
A. Total Paid in Capital is $1,480,000, and Total Stockholders' equity is $1,218,000
B. Total Paid in Capital is $1,810,000, and Total Stockholders' equity is $1,742,000
C. Total Paid in Capital is $1,480,000, and Total Stockholders' equity is $1,742,000
D. Total Paid in Capital is $2,140,000, and Total Stockholders' equity is $2,402,000
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