Farad Inc. sells used trucks. During the month, Farad sold 50 trucks at a price of $9,000
Question:
Farad Inc. sells used trucks. During the month, Farad sold 50 trucks at a price of $9,000 each. The budget for the month was to sell 45 trucks at a price of $9,500 each. Compute the sales price variance and sales volume variance for the month and identify each variance as favorable or unfavorable.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
Sales Units Price per unit Total Actual Re...View the full answer
Answered By
Saikumar Ramagiri
Financial accounting:- Journal and ledgers, preparation of trail balance and adjusted trail balance Preparation of income statement, retained earning statement and balance sheet Banks reconciliation statements Financial statement analysis Cash flow statement analysis (both direct and indirect methods) All methods of Depreciations Management Accounting:- Ratios Budgeting control Cash budget and production budget Working capital management Receivable management Costing:- Standard and variance costing Marginal costing and decision making Cost-volume-profit analysis Inventory management (LIFO, FIFO) Preparation and estimation of cost sheet Portfolio management:- Calculation of portfolio standard deviation or risk Calculation of portfolio expected returns CAPM, Beta Financial management:- Time value of money Capital budgeting Cost of capital Leverage analysis and capital structure policies Dividend policy Bond value calculations like YTM, current yield etc International finance:- Derivatives Futures and options Swaps and forwards Business problems Finance problems Education (mention all your degrees, year awarded, Institute/University, field(s) of major): Education Qualification Board/Institution/ University Month/Year of Passing % Secured OPTIONALS/ Major ICWAI(inter) ICWAI inter Pursuing Pursuing - M.com(Finance) Osmania University June 2007 65 Finance & Taxation M B A (Finance) Osmania University Dec 2004 66 Finance & Marketing. B.Com Osmania University June 2002 72 Income Tax, Cost & Mgt, Accountancy, Auditing. Intermediate (XII) Board of Intermediate May 1999 58 Mathematics, Accountancy, Economics. S S C (X) S S C Board. May 1997 74 Mathematics, Social Studies, Science. Tutoring experience: • 10 year experience in online trouble shooting problems related to finance/accountancy. • Since 6 Years working with solution inn as a tutor, I have solved thousands of questions, quick and accuracy Skills (optional): Technical Exposure: MS Office, SQL, Tally, Wings, Focus, Programming with C Financial : Portfolio/Financial Management, Ratio Analysis, Capital Budgeting Stock Valuation & Dividend Policy, Bond Valuations Individual Skills : Proactive Nature, Self Motivative, Clear thought process, Quick problem solving skills, flexible to complex situations. Achievements : 1. I have received an Award certificate from Local Area MLA for the cause of getting 100% marks in Accountancy during my Graduation. 2. I have received a GOLD MEDAL/Scholarship from Home Minister in my MBA for being the “Top Rank student “ of management institute. 3. I received numerous complements and extra pay from various students for trouble shooting their online problems. Other interests/Hobbies (optional): ? Web Surfing ? Sports ? Watching Comics, News channels ? Miniature Collection ? Exploring hidden facts ? Solving riddles and puzzles
4.80+
391+ Reviews
552+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
A firm can sell its product at a price of $150 in a perfectly competitive market. Below is an incomplete table of a firm's various costs of producing up to 6 units of output. Fill in the remaining...
-
A seven-day Mexican cruise was advertised at a price of $1299 per person based on double occupancy. If the cruise was booked two months in advance, the price would be lowered to $935 per person. What...
-
A seminar was advertised at a price of $125 per person. If the tickets were purchased at least two weeks in advance, the price would be lowered to $105 per person. What rate of markdown has been...
-
How do items discussed in the critical audit matters section differ from items in an unqualified opinion with an emphasis-of-matter paragraph? Question 1: (20) A. On November 1, 2019. James Andersun...
-
Air at 20 m/s, 260 K, 75 kPa with 5 kg/s flows into a jet engine and it flows out at 500 m/s, 800 K, 75 kPa. What is the change (power) in flow of kinetic energy?
-
1. Why did Aquino have the burden of proving that Hondas reason for discharging him was pretext? Didnt he already prove a prima facie case? 2. Considering the criminal charges against him were...
-
Between January and February 2023, the unemployment rate and the labor force participation rate both increased, while the employment population ratio remained unchanged and employment increased by...
-
Dearborn Supplies has total sales of $200 million, assets of $100 million, a return on equity of 30 percent, and a net profit margin of 7.5 percent. What is the firms debt ratio?
-
18. The atomic number of elements P, Q, R and T are 19,17, 14 and 6 respectively. The pair of elements that can react to form an ionic compound is A. Q and T B. R and Q C. Q and P D. R and T 19. The...
-
In its fifth year of operations, Shocker, Inc., a C corporation, had current earnings and profits of $49,000. At the end of its fourth year of operations, accumulated earnings and profits were...
-
Shaw Co. produced 680 units. Its overhead allocation base is DLH and its standard amount per allocation base is 8 DLH per unit. Its standard overhead rate is $10 per DLH. The flexible overhead budget...
-
Refer to the information from Exercise 23-17. Compute the overhead (1) Volume variance and (2) Controllable variance, and identify each as favorable or unfavorable. Data From Exercise 23-17 Manuel...
-
Why do you think corporate behaviour in bank-based financial systems would be different from market-based financial systems? How do you think other differences in the macro environment can affect...
-
There is a positive association between the percentage of the civilian labor population unemployed in a state and the number of firearm deaths in that state. Based on this hypothesis, what change...
-
On its June 30, 2015 balance sheet, Barrows Corporation has total assets of $100,000, current liabilities of $40,000, and owners' equity of $60,000. Which one of the following statements must be true...
-
Consider a situation in which there is an employer, E , and a worker, W . E can choose to trust the worker to a high or low level while W can choose either a high or low level of effort. Both are...
-
SLMA Corp. for the last ten years, has earned and had cash flows of about P600,000 every year. As per the predictions of the company's earnings, the same cash flow would continue for the foreseeable...
-
During 2006, the other revenues and gains section of Totman Companys Statement of Earnings and Comprehensive Income contains $5,000 in interest revenue, $15,000 equity in Harpo Co. earnings, and...
-
Find a basis for each. (a) The subspace {a 2 x 2 + a 1 x + a 0 | a 2 - 2a 1 = a 0 g of P 2 (b) The space of three-wide row vectors whose first and second components add to zero (c) This subspace of...
-
Tell whether the angles or sides are corresponding angles, corresponding sides, or neither. AC and JK
-
Visit an area of your college that serves the student community with either products or services. Some examples are food services, libraries, and bookstores. Identify and describe between four and...
-
The following information is from Nokia (www.Nokia.com), which is a leading global manufacturer of mobile devices and services. Required 1. For each year, compute the percentage that cash represents...
-
Santana Rey receives the March bank statement for Business Solutions on April 11, 2012. The March 31 bank statement shows an ending cash balance of $67,566. A comparison of the bank statement with...
-
The following data are from the accounting records of Niles Castings for year 2 Units produced and sold Total revenues and costs Sales revenue 89,000 $280,000 Direct materials costs 64,000 Direct...
-
What is Organization culture, site specific example The nature of organization culture, site specific example. Functions of organizational culture, site specific example What are ways to develop and...
-
Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 310 units at $8 13 Sale 180 units 22 Purchase 370 units at $10 29 Sale 300 units a. Assuming a perpetual inventory...
Study smarter with the SolutionInn App