5, 6) Lima Parts, Inc., shows the following overhead information for the current period: Actual overhead incurred $ 29,400 2/3 of which is variable Budgeted fixed overhead $ 8,640 per hour Standard variable overhead rate per direct labor-hour $ 9.00 Standard hours allowed for actual production 2,350 hours Actual labor-hours used 2,200 hours ________________________________________ Required: What are the variable overhead price and efficiency variances and fixed overhead price variance? (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.) Amounts Variable overhead: Price variance $ (0%) (0%) Efficiency variance $ (0%) (0%) Fixed overhead: Price variance $ (0%) (0%) ________________________________________ P16-45 Overhead Variances (L.O.
264,000 / 25,000 hrs = $10.56 2650 hrs x 10.56 = $27,984 (d) Sum-of-the-years’-digits. n(n+1) = 10(11) = 55 10/55 x 264,000 x 1/3 = $16,000 9/55 x 264,000 x 2/3 = $28,800 Total = $44,800 (e) Double-declining-balance. 279,000 x 20% x 1/3 = $18,600 [279,000-(279,000x20%)] x 20% x 2/3 = $29,760 Total = $48,360 E11-9 (Composite Depreciation) Presented below is information related to Morrow Manufacturing Corporation. Machine | Cost | Estimated Salvage Value | Estimated Life (in years) | A | $40,500 | $5,500 | 10 | B | 33,600 | 4,800 | 9 | C | 36,000 | 3,600 | 8 | D | 19,000 | 1,500 | 7 | E | 23,500 | 2,500 | 6 | Instructions (a) Compute the rate of depreciation per year to be applied to the machines under the composite method. A: 40,500/10=4050 B: 33,600/9=3733 C: 36,000/8=4500 D: 19,000/7=2714 E: 23,500/6=3916 Total Straight-line depreciation = $18,913 Total Cost = $152,600 Depreciation Rate = 18,913/152,600 = 12.4% (b) Prepare the adjusting entry necessary at the end of the year to record depreciation for the year.
Margin of Safety (DOLLARS) Budgeted – break even = 100,000-62500= 37500 (Percentage) 37.500/100.000= 37.5% (Units) 37500/250= 150 3.Compute the company’s margin of safety in units assuming the proposal is accepted. Margin of Safety (Dollars) 137500-58929= 78571 (Units) 78571/275= 286 4. Compute the increase or decrease in profit assuming the proposal is accepted, show the contribution Income Statement for current and proposed. Present Proposed Sales 100,000 137500 Variable expense 64000 80000 CM 36000 57500 Fixed cost 22500 244750 Net income 13500 32750 difference: 19250 4a. What is the operating leverage for the current and proposed?
Question : (TCO 7) An understanding of life-cycle costs can lead to 5. Question : (TCO 7) Pritchard Company manufactures a product that has a variable cost of $30 per unit. Fixed costs total $1,500,000, allocated on the basis of the number
To forecast 2010 sales based on 2009 sales, Equation 1 must be used: St = $500,000 + $1.10St–1 S2010 = $500,000 + $1.10($1,500,000) = $2,150,000 3. Equation 2 requires a forecast of gross domestic product. Equation 3 uses the actual gross domestic product for the past year and, therefore, is observable. 4. Advantages: Using the highest R2, the lowest
1. Assume that a radiologist group practice has the following cost structure: Fixed costs: $500,000 Variable cost per procedure $25 Charge (revenue) per procedure $100 Furthermore, assume that the group expects to perform 7,500 procedures in the coming year. a. Construct the group’s base case projected P & L statement Total revenue ($100 x 7,500) = $750,000 Total variable cost ($25x7500) =$187,000 Fixed cost=$500,000 Total rev-total var cost-fixed cost=profit 62,500 b. What is the group’s contribution margin? What is the breakeven point?
| | | | | * Question 7 2 out of 2 points | | | Examine the graph below. The government has placed a $200 tariff on product z. The new equilibrium price is $600. What has happened to total surplus? | | | | | Selected Answer: | It has decreased.
a. To obtain the long run equilibrium, number of firms in the industry should be infinity, and it is calculated by: qi= (a-c) / [(n+1)*b] b. For two firms: Quantity: q1=q2= (a-c)/[(n+1)*b]= (100-20)/3 = 26.67 Price: P=100-(2*26.67)=46.67 Cost: Cost= 20*26.67=789.4 Profit: Profit=46.67*26.67-789.4=0 For Three firms: Quantity: q1=q2= q3 = 20 Price: P=60 Cost: Cost= 296 Profit: Profit=904 For Four firms: Quantity: q1=q2= q3 =
Descriptive Statistics: Income ($1000), Size, Credit Balance ($) Variable Mean StDev Minimum Median Maximum Range Mode Income ($1000) 43.74 14.64 21.00 43.00 67.00 46.00 55 Size 3.420 1.739 1.000 3.000 7.000 6.000 2 Credit Balance($) 3976 932 1864 4090 5678 3814 3890 Variable Mode Skewness Kurtosis Income ($1000) 4 0.05 -1.29 Size 15 0.53 -0.72 Credit Balance($) 2 -0.14 -0.74 The statistics indicates that the mean income is 43.74; the median income is 43.00 and the mode income is 55. The standard deviation is given approximately as 1.74. Maximum income is 67,000 and the minimum income is 21,000 and a Standard Deviation of 14.64. The second individual variable is household size the mean household size of the sample is 3.42, the median household size of the sample is 3 and the mode household size of the sample is 2 and the standard deviation is 1.739. The maximum household size is 7 and the minimum household size is
Even though the p-value for our Intercept and DAYS increased, it didn’t affect the significance of our model. Getting rid of PAYOR variable didn’t have much of a significant change on our PHYS p-value as it did for our Intercept and DAYS. The overall p-value changed from 2.73E-63 to 1.51E-64, however, the number is still low and there is still a low chance of inaccuracies in this model right now. In order to make this model more accurate, I am going to take PHYS out of the