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As аpplicаble in yоur cаlculatiоns, use the fоllowing methods for rounding purposes: (i) do not round any required intermediate calculated values(ii) round final answers to the nearest whole dollar L. Frank Inc. is preparing its annual flexible budget performance report. The planning budget was prepared assuming 7,200 hours of direct-labor, while 7,000 hours of direct-labor were actually worked during the year. The company denotes the quantity of direct-labor hours in their cost formulas as variable "x". Use the below information related to L. Frank Inc.'s flexible budget to calculate the requested values. Important: please do not use commas, spaces, $ signs, or any other punctuation in your answers. Express all numeric answers as positive values, regardless of calculations. Part IV. Question 1: What is the planning budget total dollar amount for insurance? _______ Part IV. Question 2: What is the direct materials activity variance? Enter the dollar amount in the first blank as a positive value rounded to the nearest whole dollar, and indicate whether the variance is favorable or unfavorable in the second blank by entering the letter F or U, respectively. _______ _______ Part IV. Question 3: What is the direct labor spending variance? Enter the dollar amount in the first blank as a positive value rounded to the nearest whole dollar, and indicate whether the variance is favorable or unfavorable in the second blank by entering the letter F or U, respectively. _______ _______
As аpplicаble in yоur cаlculatiоns, use the fоllowing methods for rounding purposes: (i) do not round any required intermediate calculated values(ii) round final answers to the nearest whole dollar Campbell Cisterns manufactures small dwelling rainwater capture tanks. Campbell uses actual costing and started operating two years ago, producing 48,000 tanks and selling 40,000 tanks in Year 1, and producing 30,000 tanks and selling 38,000 tanks in Year 2. The selling price of one tank is $140. Below is additional information related to Campbell's first two years of operations: Important: please do not use commas, spaces, $ signs, or any other punctuation in your answers. Express all numeric answers as positive values, regardless of calculations. Part II. Question 2: What is Campbell's total cost of goods sold in Year 2 under the variable method? _______ Part II. Question 3: What is the contribution margin in Year 2? _______ Part II. Question 4: What is the total fixed manufacturing portion of cost of goods sold in Year 2 under the absorption method? _______ Part II. Question 5: By how much does Campbell's net operating income or loss differ in Year 2 between the variable and absorption methods? (Reminder: regardless of calculated result, enter amount of difference as a positive value) _______