The journal entry of the crazy mountain tours co is given below.
The term journal entry in accounting is defined as records a business transaction in the accounting system for an organization
Here we have given crazy mountain tours co. is a travel agency. the nine transactions recorded
And we have to prepare the nine journal entries from which the postings were made.
While we looking into the given question we have identified the following as debit transactions,
Accounts receivable = 12,600 + 8500 = 21,000
Equipment = 12,500
Common stocks = 31,000
Dividend = 2,500
And the credit transactions are identified as,
Accounts payable = 5,700 + 8,700 = 14,400
Supplies = 2700 + 700 = 3400
Operating expenses = 4,800 + 700 = 5,500
The the journal entry for the transaction can be written as follows:
Jan Accounts receivable Dr. $21,000
Equipment Dr. $12,500
Common stocks Dr. $31,000
Dividend Dr. $2,500
To Supplies $3,400
To Accounts payable $14,400
To operating expenses $5, 500
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FILL IN THE BLANK. umpqua defines other financial institutions that perform banking services as their competitors. therefore they take a/an __ of its competition. market point of view strategic group point of view service point of view competitor myopia point of view industry point of view
Umpqua views other financial institutions that provide banking services as rivals and approaches this issue from the perspective of the industry. Therefore, option (D) is perfect.
What is an industrial-based approach?A company that takes an industry-based approach to competition sees its rivals as other businesses that work in the same sector or industry. In the case of Umpqua, this means that they view businesses in other industries as their rivals rather than other banks and financial institutions.
Instead of attempting to compete with businesses in other industries, this strategy enables Umpqua to concentrate on competing with other businesses in the banking and financial services sector.
Hence, option (D) is the accurate one.
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a project manager is reviewing a business impact analysis. it indicates that a key website can tolerate a maximum of three hours of downtime. administrators have identified several systems that require redundancy additions to meet this maximum downtime requirement. of the following choices, what term refers to the maximum of three hours of downtime?
The maximum amount of downtime that a significant website can tolerate is three hours. In order to reach this level, administrators have identified a number of systems that need redundancy upgrades.
Three hours is the maximum amount of downtime that is acceptable.
The MTD (maximum tolerated downtime) is used to determine what.
The phrase "Maximum Tolerable Downtime" (MTD) refers to the maximum amount of downtime that a certain business process can experience without jeopardising the organization's ability to function.
The maximum amount that can be tolerated
In both business continuity and disaster recovery, the Maximum Tolerable Outage, or MTO, is a common metric. The maximum amount of time that a system or resource can be unavailable before the loss of that resource starts to negatively impact an organization's goals or ability to continue to operate.
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if the income elasticity of demand for good x is negative and the cross-price elasticity of demand between good x and good y is negative, which of the following must be true of good x? group of answer choices
X is inferior good and Y's complement.
Define "lesser good"?When a good is substandard, demand declines when income rises. This good has a negative demand elasticity of income (YED).
What is meant by a good complement?An item that is utilized in conjunction with another good or service is said to be complementary. The complementary good typically has little to no value when consumed by itself. However, when combined with another product or service
Cross price elasticity: What is it?To determine whether products are "substitutes" or "complements," the idea of cross-price elasticity of demand is employed. To group goods that are probably going to compete with one another, it is also used in market definition.
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in a perpetual inventory system, which of the following statements are true? (check all that apply.) 1) the purchaser should record freight-in as a selling expense
2) the purchaser should record freight-in as an asset, inventory
3) the seller should record freight-out as a selling expense
4) the seller should record freight-out as cost of goods sold
The propositions that are true in a perpetual inventory system are as follows:
The buyer needs to list freight out as a selling expense.The buyer needs to inventory the freight-in as an asset.Perpetual inventory system, what is it?Using computerized point-of-sale systems, a perpetual inventory approach eliminates the need for physical inventory inspections by continuously logging changes to the inventory in real-time. This perpetual inventory provides users with a thorough understanding of inventory fluctuations by providing quick reporting of the amount of inventory on hand and an accurate reflection of the quantity of commodities in stock.
The perpetual inventory system is a piece of software that, rather than conducting a physical inventory, continuously estimates your inventory based on your electronic records. A physical count serves as the initial baseline, and updates are made in response to receipt of new purchases and shipment of previously shipped items.
A permanent inventory system provides real-time updates and more precise estimates, but we also need to be aware of its drawbacks, which include lost items, scan errors, theft, hacking, and other problems.
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a tariff levied on tomatoes produced in mexico and imported into the u.s. would decrease the price of domestic tomatoes and decrease revenues of growers but only if demand is elastic. raise the price of domestic tomatoes and increase revenues of growers but only if demand is elastic. decrease the price of domestic tomatoes and decrease revenues of domestic growers. raise the price of domestic tomatoes and increase revenues of domestic growers. raise the price of domestic tomatoes and increase revenues of growers but only if demand is inelastic.
The correct option is raise the price of tomatoes and increase revenues of domestic growers.
As we know that when a tariff is imposed on the imports of tomatoes from Mexico to U.S. It will raise the price of domestically produced tomatoes as there is no foreign competition based by domestic producers, so they don't reduce prices.
Tariffs generally increase the price of the goods and the services such as transport etc , by applying a tax on the goods which are imported. And the consumers are left paying higher prices then the usual. This reduces the consumer surplus. On the other hand domestic producers face less competition.
The domestic growers produce more tomatoes at a high price, their producer surplus increases, and as a result of this, their revenues increases. The motive behind leving tariff on imports is to protect domestic producers.
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with a progressive income tax, people with lower income pay a lower tax rate than people with higher income.
With a progressive income tax, people with lower income pay a lower tax rate than people with higher income. This statement is true.
What do you mean by the progressive income tax?The average tax burden rises with income under a progressive tax. Low- and middle-income taxpayers bear a disproportionately tiny amount of the tax burden, compared to high-income families.
A progressive tax involves an increasing (or progressing) tax rate as taxable income rises. This is typically accomplished by establishing tax brackets that divide taxpayers according to income levels.
Since the majority of taxes are levied on people with the greatest incomes, progressive tax systems tend to raise more revenue than flat or regressive tax systems.
Therefore, the With a progressive income tax, people with lower income pay a lower tax rate than people with higher income. This statement is true.
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TRUE/FALSE. companies set not a single price, but a pricing that covers different items in its line and changes over time as products move through their life cycles
Companies don't have a fixed price for everything in their range; instead, their pricing varies over time as their products go through different stages of their life cycles. True
The life cycle of a product is the time span between when it is first made accessible to consumers and when it is discontinued. The four phases of a product's life cycle are introduction, growth, maturation, and decline.
The product lifecycle is an essential tool for managers, designers, and marketers alike. It describes the four key stages of a product's life cycle and offers suggestions for developing strategies to maximize each stage and improve the product's overall commercial performance.
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suppose antonio and trinity are playing a game that requires both to simultaneously choose an action: up or down. the payoff matrix that follows shows the earnings of each person as a function of both of their choices. for example, the upper-right cell shows that if antonio chooses up and trinity chooses down, antonio will receive a payoff of 4 and trinity will receive a payoff of 5. trinity up down antonio up 4, 8 4, 5 down 2, 2 3, 4
In this game, Antonio and Trinity are both trying to maximize their payoffs. If they both choose up, then Antonio will receive a payoff of 8 and Trinity will receive a payoff of 4.
If they both choose down, then Antonio will receive a payoff of 3 and Trinity will receive a payoff of 4. If Antonio chooses up and Trinity chooses down, then Antonio will receive a payoff of 4 and Trinity will receive a payoff of 5. If Antonio chooses down and Trinity chooses up, then Antonio will receive a payoff of 2 and Trinity will receive a payoff of 2. Therefore, in order to maximize their payoffs, Antonio and Trinity should both choose up if they can coordinate their actions.
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Carver owes one of its suppliers $120,000 on account for past purchases. Carver sent this supplier $50,000 to pay down the account.
Accounts payable will (increase/decrease) by $50,000
Cash will (increase/decrease) by $50,000
Dr. Payable Accounts 50,000 (decrease)
50,000 Cr. in cash (decrease)
Describe accounts payable using an example?Money that you owe to any third party is recorded in your accounts payable, a current liability account. The third parties can be financial institutions, businesses, or even a person from whom you borrowed money. Purchases made for goods or services from other businesses are a typical illustration of accounts payable.
What categories of accounts payable exist?Payables include things like trade payables, non-trade payables, taxes owed, loans due, and wages due. Typically, the accounts payable system is used to handle the first four of these payables, while the payroll system is used to process the final type of payable.
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Is the following statement true or false: when two inventors invent the same product, the first one to invent it has priority.
It is true that when the two inventors invent same product, first one to invent it has priority.
What is a product?A product is anything that can be offered for sale to the public in order to satisfy consumer needs or desires. An object, system, or service that is made accessible to consumers for usage in response to consumer demand is known as a product in marketing. Products can also be referred to as merchandise in the retail industry. Products are purchased as raw materials in the manufacturing sector and then sold as finished goods. In project management, "products" are the precisely defined create measurable that make up or help achieve the project's goals. Sub-products are byproducts of production processes that are nonetheless beneficial, and they are subject to similar notions. Products that are dangerous, especially those that hurt users or bystanders physically, may be held accountable.
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Although ethnography can incorporate many approaches, one thing in particular sets it apart from other qualitative methods. Ethnography can be helpful because we are able to see... a. How people think they would react in a situation b. How people respond to specific questions in a group setting c. What people report their experiences to be d. What people actually do
Although ethnography can incorporate many approaches, one thing in particular sets it apart from other qualitative methods. Ethnography can be helpful because we are able to see (d) What people actually do.
Option (d) is correct.
Ethnography is a research method central to the knowledge of the world from the point of view of its social relations. It is a qualitative research method based on the diversity of culture at home (wherever that may be) and abroad.
Ethnography is a qualitative method of data collection often used in the social and behavioral sciences. Data is collected through observation and interviews, which are then used to draw conclusions about the functioning of society and individuals.
A classic example of ethnographic research would be an anthropologist who travels to an island, lives for years in a society on said island, and studies its people and culture through a process of sustained observation and participation.
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assets, $100 million in liabilities, and 70 million shares outstanding. Your initial lockout period is 3 years.
a.How many shares did you purchase?
b.If the share price after 3 years increases to $15.28, what is the value of your investment?
c.What is your annualized return over the 3-year holding period?
Consider investing $500,000 to buy stock in a company that has $800 million in assets, $100 million in cash, and 100 million .
The equal yearly rate of return on the investment or deposit is known as the annualized return. To determine the viability and return of two or more investments, the annualized rate of return is calculated.
Take into account that you spent $5000 to buy shares of a support stock. Your basic lockout period is three years. Amount invested: $500,000
Trading pairs in A
A.long/short stock hedgeB.convergence playC.statistical arbitrageD.
Hardiness: Medium
The price of a one-year oil futures contract is $74.50.
If $100 million in "extra earnings" are assumed per year, the return (IRR) is Share price, shares outstanding, and equity value are used in valuation.
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which of the following factors contributed to the transition from the production era to the sales era?
The change from the production era to the sales era was facilitated by sophisticated production methods.
What distinguishes the production era from the sales phase most significantly?Business people thought that high-quality products would sell themselves during the manufacturing period. But throughout the sales age, selling—or persuading others to buy—was prioritized. (1) Production, (2) Selling, (3) Advertising, and (4) Stakeholder Relationships are the four stages in the evolution of marketing. During the production era, distribution and advertising were the main priorities. The post-World War II boom in consumer products and services helped usher in the production era of marketing. The products, merchandise, or services that a business sells to paying clients are referred to as sales in the business world. The process of creating or manufacturing the goods that clients of a firm purchase is referred to as production.
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When considering making a change in practice, which of the following should the project group do first?
When we try to change a practice, we can initiate it by looking for an evidence-based guideline about the issue.
Changes are the only constant things that happen in this world. However, it is important to alter the changes which happen in the project planning because it may affect the final output of the work. A well planned schedule helps in identifying the problems associated with the project, and deep analysis would help to come up with ideas as solutions. Some practices needs proper guidelines which needs to be followed duly so that those practices get us towards the idealized solution. Identification of the problem is also a solution have done because then one can allocate all the resources in implementing the plans for solution.
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a firm finances its activities with both debt (that costs 8%) and equity (that costs 14%). the firm can borrow additional funds at 8% if it so desires. a financial analyst at this firm argues that the firm should undertake any investment that earns a return of at least 8% because such investments will enable the firm to pay debtholders what they require, and any earnings above 8% will go to stockholders. if a firm decides to make investments based on this logic it will .
Undertake investments that it should decline.
funding is the dedication of cash to the purchase of an asset to obtain an boom in fee over a time period. investment requires a sacrifice of a few gift asset, together with time, money, or attempt. In finance, the cause of making an investment is to generate a go back from the invested asset. The return may additionally consist of a benefit (income) or a loss realized from the sale of a belongings or an investment, unrealized capital appreciation (or depreciation), or investment earnings including dividends, interest, or rental profits, or a combination of capital advantage and earnings. The go back can also consist of currency gains or losses because of modifications in the foreign currency exchange fees.
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fromt he final session conclusion video supply chian management involves the functions of plan buy make celiver select the best way to describe the decisions made within these four functions
The choices made in these roles must be made jointly and simultaneously (at the same time). Any choice made in one section will have an impact on the best choice made in the other areas.
What are the other choices?Additionally, the other business functions must be considered while making decisions in supply chain management: Choices taken in supply chain management also affect decisions in sales, marketing, finance, and accounting. The other functions of the supply chain will need to combine their efforts to help these decisions whenever one functional manager wishes to alter how that portion of the supply chain runs.
What is the characteristics of the same?One of the characteristics that makes supply chain management challenging is its interconnectedness, but for our SCM majors, this is also the characteristic that makes supply chain management the most enjoyable. We get to put our imaginations to work enhancing business effectiveness!
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a firm that has a orientation will consider upstream and downstream flows of goods, services, finances, and information across the supply chain as activities it would be involved in, even though they may be performed by other companies. group of answer choices production supply chain marketing concept customer distribution
A firm that has a supply chain orientation will consider upstream and downstream flows of goods, services, finances, and information across the supply chain.
A firm that has a supply chain orientation is focused on managing the flow of commodities, finances, and information across the entire supply chain, from the point of origin to the final destination. This includes managing the upstream flow, referring to the movement of raw materials from suppliers to the firm, and the downstream flow, referring to the movement of finished goods from the firm to customers.
A firm here is typically concerned with optimizing the flow of materials, information, and financial resources across the entire supply chain in order to reduce costs, improve efficiency, and increase customer satisfaction. This may involve activities such as managing inventory levels, coordinating production schedules, and leveraging technology to improve communication and collaboration across different parts of the supply chain.
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Fargo Company's outstanding stock consists of 550 shares of noncumulative 5% preferred stock with a $10 par value and 4,000 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends.Year Dividend Declared
2015 $20,000
2016 $6,000
2017 $32,000The amount of dividends paid to preferred and common shareholders in 2015 is:
$200 preferred; $19,800 common.
$4,000 preferred; $16,000 common.
$17,000 preferred; $3,000 common.
$10,000 preferred; $10,000 common.
$20,000 preferred; $0 common.
The amount of dividends paid to preferred and common shareholders in 2015 is $10,000 preferred; $10,000 common.
The total dividend declared for the year was $20,000. Since the preferred stock is noncumulative, the company must pay dividends each year. The preferred stockholders would receive the full 5% dividend of $10,000 (550 x $10 x 5%). The remaining $10,000 would go to the common shareholders.
Dividend refers to a reward, cash or otherwise, that a company gives to its shareholders. Dividends can be issued in various forms, such as cash payment, stocks or any other form. A company's dividend is decided by its board of directors and it requires the shareholders' approval.
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Carmex's first efforts in marketing research had the research objective of figuring out who it was as a company and what the Carmex name means. In the first stage of the marketing research approach, ________, the research objective is set.
defining the problem
developing findings
taking marketing actions
collecting relevant information
developing the research plan
defining the problem
In the first stage of the marketing research approach, defining the problem, research objectives are set and possible marketing actions are identified.
defining the problem, In the first stage of the marketing research approach, defining the problem, research objectives are set and possible marketing actions are identified.
The process of finding, creating, and delivering value to meet a target market's needs for products and services is known as marketing. It may involve selecting a target market, selecting particular qualities or themes to emphasize in advertising, running advertising campaigns, participating in trade shows and public events, creating products and packaging that are appealing to consumers, and defining the terms of the sale, such as price. The marketing is often handled by the seller, who is typically a manufacturer or merchant. It is one of the main components of commercial and business administration. Direct customer or business-to-business (B2B) marketing is an option for marketers (B2C marketing).
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When an immigrant sends a remittance from his host country to be his family in his home country, the benefits of immigration to the
Remittances are money sent by migrants to their nation of origin. They are the individual savings of employees and families, which are used to pay for food, clothes, and other expenses in the home nation.
How are remittances useful?Remittance flows are typically countercyclical, increasing during economic downturns or in the wake of a natural disaster when private capital flows are more likely to decline. They also tend to be more steady than capital flows. They frequently provide the destitute in politically unstable nations with an economic lifeline.
What is immigration?Immigration is the international movement of individuals to a country of destination where they are not natives or citizens in order to establish themselves as long-term residents or naturalized citizens. The definition of immigration or migration excludes commuters, tourists, and other short-term visitors; seasonal labor immigration is occasionally included.
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a convertible debenture has a conversion price of $40 per share. if the market value of the debenture rises to a 12.5-point premium over par, which of the following are true?
The conversion ratio is 25:1 and parity price of the stock is $44 from the following are true.
What is conversion ratio?For each convertible security, the number of common shares obtained upon conversion is known as the conversion ratio. More common shares are traded for each convertible security as the ratio rises. The conversion ratio, which affects the security's relative price, is decided upon at the time the convertible security is issued. By dividing the par value of the convertible security by the cost of converting equity, the ratio is derived. The two primary categories of capital fundraising instruments are debt and equity. Debt must be repaid, however due to tax considerations, raising capital by selling debt is frequently less expensive than buying equity. Equity capital raising results in ownership loss, and ownership entails voting rights.
Conversion ratio= $1,000 par / $40
Conversion price = 25:1
$1,100 / 25 shares per bond = $44
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Which of the following does NOT describe the four important elements that underlie any sampling technique?
Universe
Population
Sampling frame
Constant
Sample
Constant somehow Doesn't describe the four critical components that underpin any sampling technique.
What exactly is business?
A company is defined as a corporation or institution that participates in advertising, light industry, or professional life. Business owners can indeed be either profit - making as well as non-profit groups.
What is the significance of business?
Business is extremely important in our lives. First, they produce products and services that meet our needs and desires. After that, they recruit families as labor and compensate them with wages, wages, and benefits. As a result, it turns into a source of income for them, which they can use to support their family.
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in the communication process, printing mistakes that affect the meaning of an advertisement, or using words or pictures that fail to communicate the message clearly, are referred to as multiple choice a. distortions. b. disruptions. c. clutter. d. misrepresentations. e. noise.
Option e is correct. In the communication process, printing mistakes that affect the meaning of an advertisement, or using words or pictures that fail to communicate the message clearly, are referred to as noise.
The road map to achieving effective communication is the communication process. The sharing of a shared meaning between the sender and the recipient occurs during the communication process. People that adhere to the communication process will have the chance to improve their productivity in all facets of their work. Understanding comes through good communication.
Four essential elements make up the communication process. These elements consist of encoding, transmission medium, decoding, and feedback. Two other components are involved in the process, and those two additional factors are represented by the sender and the recipient. The sender initiates contact, which concludes with the recipient. A person, group, or organization that starts the communication is known as the sender.
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three years ago, mr. lewis paid $40,000 for a newly issued corporate bond with a $50,000 stated redemption value. this year, he sold the bond for $43,900. through the date of sale, mr. lewis recognized $940 of the original issue discount (oid) as accrued interest income. compute his gain or loss on sale. multiple choice $3,900 long-term capital gain $2,960 long-term capital gain $2,960 ordinary income $3,900 ordinary income
A long-term capital gain of $2,960—is the appropriate response. When a bond or other financial instrument is originally issued, its price is discounted from its face value. This is known as the original issue discount(OID).
Bonds may be issued at a discount, or price, below their face value. The OID is the amount of the discount, which is the distinction between the bond's initial face value and the purchase price. Bond issuers utilize original issue discounts to get investors to acquire their bonds so that they may raise capital for their operations. Large OIDs are frequently used by zero-coupon bonds to draw customers to their offerings. When a bond is acquired, the issuer typically pays the bondholder an interest rate (referred to as a coupon) as long as the investor keeps the bond. Bondholders periodically get interest payments based on the bond's interest rate. When the bond matures, the investor receives a refund equal to the face value they paid for it.
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A company purchased equipment for $72,000 on January 1. Freight charges paid to acquire the equipment amounted to $2,000. There was also a cost of $3,000 for building a foundation for the equipment and installing the equipment. It is estimated that the equipment will have a $10,000 salvage value at the end of its 6-year useful life. The straight-line method of depreciation is used. What is the amount of accumulated depreciation at the end of the second year of using the asset and after adjusting entries have been recorded?
22,333
Cost of the equipment = $72,000 + 2,000 + 3,000 = $77,000
Depreciation per year = (Cost - salvage value)/Life in year
Depreciation per year = ($77,000 - 10,000)/6 years = $11,167 per year
Accumulated depreciation after two years = 2 x $11,667 = $22,333
The amount of accumulated depreciation at the end of the second year of using the asset and after adjusting entries have been recorded is $22,333.
Cost of the equipment = $72,000 + 2,000 + 3,000 = $77,000
Depreciation per year = (Cost - salvage value)/Life in year
Depreciation per year = ($77,000 - 10,000)/6 years = $11,167 per year
Accumulated depreciation after two years = 2 x $11,667 = $22,333
Depreciation is the method of deducting the price of a business asset over an extended period of time, rather than over the course of 365 days. There are four predominant methods of depreciation: immediately line, double declining, sum of the years' digits and devices of manufacturing.
The time period depreciation refers to an accounting technique used to allocate the value of a tangible or physical asset over its useful life. Depreciation represents how an awful lot of an asset's cost has been used. It lets in companies to earn sales from the assets they personal by way of purchasing them over a positive time period.
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1. If a local union went on strike and won an agreement to raise hourly wages from $15.00 per hour to $25 per hour and if they also added generous health and retirement benefits, then this would only cause the Marginal Cost Curve to shift up and no other short-run cost curve would be affected.
True or False
The marginal cost curve would rise or fall depending on whether a local union went on strike and won a contract raising hourly pay from $15.00 to $25.00 per hour and including significant health and retirement benefits. There will be an impact on other short-run cost curves. This assertion is false.
The cost of manufacturing influences all other curves as salaries and other perks rise. In contrast, if manufacturing costs rise, less will be provided at a given price. In order to offer a product at a given price, manufacturers will need to produce less as a result of higher expenses.
Lower production costs mean more profits at a given price, which encourages companies to create more. The supply curve will shift to the right as more are produced for every price, indicating an increase in supply.
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bill smith is evaluating the performance of four large-cap equity portfolios: funds a, b, c, and d. as part of his analysis, smith computed the sharpe ratio and the treynor measure for all four funds. based on his finding, the ranks assigned to the four funds are as follows:
The correct answer is the risk-free asset and the risky portfolio combined.
The easiest method to assess this is to imagine a portfolio made up of two assets: a risky asset with a greater projected return at higher risk, and a risk-free asset with a low rate of return but no risk. Investors frequently blend hazardous assets with risk-free assets (like government bonds) when building portfolios to lower risks. The combination of a portfolio of risky assets with return Rp and a portfolio of risk-free assets with return Rf is referred to as a full portfolio. Based on these methods, Parada (2008) reexamines the issue and concludes that by combining hazardous assets, it is feasible to create a portfolio with returns comparable to those of a risk-free asset and that this new portfolio has no risk.
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the entry to close expense accounts includes a debit to which account: multiple choice question. income summary purchases sales returns and allowances
This is done through a journal entry debiting all revenue accounts and crediting income summary.
At the conclusion of an accounting period, all revenue and expense accounts from the income statement are moved into a temporary account called the income summary account.
The business's net profit or loss for the period is equal to the net amount placed into the income summary account. Debiting the revenue account for the whole amount of revenue recorded for the period and crediting the income summary account are the results of shifting revenue out of the income statement.
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Production costs like the restocking key materials, the cost of adding new factory-line machines, and shipping costs, all have a direct impact on the Marginal Cost Curve. (Tip: Do you know what kind of costs make up the marginal cost?) True or False True False
The given statement is true. The difference in total production costs caused by creating or producing one extra unit is known as the marginal cost in economics.
Dividing the variation in production costs by the variation in quantity helps to determine the marginal cost. Finding the point at which an organisation can realise economies of scale to improve production and overall operations is the goal of marginal cost analysis. The producer may make money if the marginal cost of producing one extra unit is less than the price per unit.
Manufacturers frequently use the managerial accounting and economics concept of marginal cost to determine the optimal level of output. Manufacturers frequently consider the cost of increasing their production volumes by one unit.
The benefit of creating one extra unit and earning money from it will, at a given level of output, lower the entire cost of manufacturing the product line. The fastest feasible discovery of that point or level is the key to manufacturing cost optimization. All of the costs that change depending on the production level are included in the marginal cost.
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Daniels Corporation used the following data to evaluate their current operating system. The company sells items for $18 each and had used a budgeted selling price of $19 per unit.
Actual Budgeted
Units sold 280,000 units 278,000 units
Variable costs $960,000 $886,000
Fixed costs $60,000 $51,000
What is the static-budget variance of operating income?
A. $316,000 unfavorable
B. $325,000 favorable
C. $325,000 unfavorable
D. $316,000 favorable
The correct answer is Option C. $325,000 (unfavorable).So, Static-budget variance of operating income of Daniels Corporation would be $325,000
According to the scenario, computation of the given data are as follow:-
Sales = Selling price per unit × Sold unit
Actual Sales = $18 × 280,000 = $5,040,000
Budgeted sales = $19 × 278,000 = $5,282,000
Operating income = Actual sales - Variable cost - Fixed cost
Actual operating income = $5,040,000 - $960,000 - $60,000 = $4,020,000
Budgeted operating income = $5,282,000 - $886,000 - $51,000 = $4,345,000
Static budget variance of operating income = Actual Operating Income -Budgeted Operating Income
= $4,020,000 - $4,345,000
= $325,000 (unfavourable)
Hence Static-budget variance of operating income of Daniels Corporation would be $325,000
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