Bundle: Managerial Accounting, 14th + Cengagenowv2, 1 Term Printed Access Card
Bundle: Managerial Accounting, 14th + Cengagenowv2, 1 Term Printed Access Card
14th Edition
ISBN: 9781337499989
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 9, Problem 1BE

Budgetary performance for cost center

Vinton Company’s costs were under budget by $36,000. The company is divided into North and South regions. The North Region’s costs were over budget by $45,000. Determine the amount that the South Region’s costs were over or under budget.

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Chocolate Brownie Corp. has sold goods at terms 2/10, n/30. If the discount is not taken, the amount receivable is $8,725. The entry to record the sale is Select one: a. debits of $8,550.50 and $174.50 to Accounts Receivable and "Forfeited Sales Discounts" respectively, and a credit to Sales for the total. b. a debit and credit of $7,852.50 to Accounts Receivable and Sales respectively. c. a debit and credit of $8,550.50 to Accounts Receivable and Sales respectively. d. a debit and credit of $8,725 to Accounts Receivable and Sales respectively.
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