Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

19) PanthersInc makes tennis rackets and they have gathered the following data for the monh of October: Cash on 10/1 Expected Cash Collections Direct Materials

image text in transcribed
19) PanthersInc makes tennis rackets and they have gathered the following data for the monh of October: Cash on 10/1 Expected Cash Collections Direct Materials Cash Disbursements Data $435,000 $80,000 Direct Labor Cash Disbursement $32,000 MOH Cash Disbursements Operating Expenses Cash Disbursements $110,000 Capital Expenditures Cash Disbursements $200,000 Panthers Inc. requires an ending cash balance of at least $12,000 and can borrow from a line of credit in $1,000 increments. What is the ending cash balance for October? B) $12,300 A) $3,300 C) $9,000 D) $12,000 20) Raw Materials Inventory 120,000 5,000 DM Price Variance Accounts Payable 125,000 The debit to DM Price Variance in the journal entry above indicates A) that standard price exceeds the actual price for direct materials. B) that the actual quantity used was exactly what they budgeted to use. C) that the variance is favorable since it is a debit balance D) that the variance is unfavorable since it is a debit balance. 21) The term is best described as a relationship among principal, interest rate, and time. A) annuity C) payback period B) capital budgeting D) time value of money 22) The number of warranty claims may be an example of the A) financial perspective C) internal business perspective. B) learning and growth perspective. D) customer perspective

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing IT Infrastructures For Compliance

Authors: Martin Weiss, Michael G. Solomon

2nd Edition

1284090701, 978-1284090703

More Books

Students also viewed these Accounting questions