Bartosiewicz Clinic uses client-visits as its measure of activity. During January, the clinic budgeted for 4,700 client-visits, but its actual level of activity was 4,680 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for January: Data used in budgeting: Fixed element per month Variable element per client-visit Revenue - $ 36.70 Personnel expenses $ 28,700 $ 12.70 Medical supplies 1,600 6.70 Occupancy expenses 10,600 1.00 Administrative expenses 7,700 0.30 Total expenses $ 48,600 $ 20.70 Actual results for January: Revenue $ 131,000 Personnel expenses $ 70,030 Medical supplies $ 21,014 Occupancy expenses $ 13,200 Administrative expenses $ 7,450The activity variance for net operating income in January would be closest to:

Multiple Choice

A, $334 U
B, $334 F
C, $9,650 U
D, $9,650 F

Harwood company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. the company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. required: 1. assume that during the year the company works only 91,000 machine-hours and incurs the following costs in the manufacturing overhead and work in process accounts: compute the amount of overhead cost that would be applied to work in process for the year and make the entry in your t-accounts. 2a. compute the amount of underapplied or overapplied overhead for the year and show the balance in your manufacturing overhead t-account. 2b. prepare a journal entry to close the company's underapplied or overapplied overhead to cost of goods sold.

What are the general categories of capital budget scenarios? describe the overall decision-making context for each.

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.