In a four-variance method analyzing factory overhead, the fixed factory overhead production-volume variance measures:
a. The difference between the actual fixed factory overhead and budgeted fixed factory overhead.
b. The difference between actual fixed factory overhead and the amount of fixed factory overhead applied to production.
c. The difference between budgeted fixed factory overhead and the amount of fixed factory overhead applied to production.
d. The difference between the actual hours and standard hours allowed multiplied by the standard fixed factory overhead rate.
c
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Notes to the financial statements provide additional information about income tax expense and deferred tax assets and deferred tax liabilities. Firms do not report which of the following?
a. components of income before income taxes b. components of income tax expense c. reconciliation from statutory to effective tax rate d. components of deferred tax assets and liabilities e. components of taxable income after income taxes
On March 12, Klein Company sold merchandise in the amount of $7,800 to Babson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Klein uses the perpetual inventory system and the gross method of accounting for sales. The journal entry or entries that Klein will make on March 12 is (are):
A.
| Accounts receivable | 7,800 | |
| Sales | 7,800 | |
| Cost of goods sold | 4,500 | |
| Merchandise Inventory | 4,500 |
B.
| Sales | 7,800 | |
| Accounts receivable | 7,800 | |
| Cost of goods sold | 4,500 | |
| Merchandise Inventory | 4,500 |
C.
| Sales | 7,800 | |
| Accounts receivable | 7,800 |
D.
| Accounts receivable | 7,800 | |
| Sales | 7,800 |
E.
| Accounts receivable | 4,500 | |
| Sales | 4,500 |
Butner Inc requires all capital investments to generate an internal rate of return of 14%. The company is considering an investment costing $100,000 that is expected to generate equal, annual cash inflows for ten years. The annual cash inflows are expected to be:
A) $19,171. B) $16,000. C) $38,088. D) $12,800.