Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Budgeted: $285,600 Overhead 84,000 Machine hours 10,200 Direct labour hours Actual : $285,000 Overhead 82,200 Machine hours 9,930 Direct labour hours $1,050,000 Prime cost 150,000 Number of units $285,600 What was the predetermined overhead rate? Select one: a. $35 b. $30 c. $28 d. $25

Q: What is the best-case scenario?

A: When companies are uncertain about the details of a project such as costs, inflows, interest rate…

Q: What would be the equasion for solving this

A: Formula for calculating yearly payment: Yearly payment=(Loan amount * Rate%)1-1(1+Rate%)n

Q: When is independence required?

A:

Q: What is the actual formula used to get this answer?

A: Present value of annuity Annuity is a series of equal payments at equal interval over a specified…

Q: What is GAAP and how does it work

A: The accounting is based on various principles that are defined by GAAP or IFRS.

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A: Errors: The comparability and consistency of the financial statements decreases when a company…

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Q: What are the assumptions of Walter’s model?

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A: Forward points are nothing but basis points added or subtracted from the spot rate of an underlying…

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.