A business model is a firm's plan or recipe for how it creates, delivers, and captures value for its stakeholders

The static budget, at the beginning of the month, for Redwyne Company follows

Static budget: Sales volume: 2,000 units; Sales price: $50.00 per unit Variable costs: $14.00 per unit; Fixed costs: $25,000 per month Operating income: $47,000 Actual results, at the end of the month, follows: Actual results: Sales volume: 1,900 units; Sales price: $58.50 per unit Variable costs: $16.00 per unit; Fixed costs: $33,000 per month Operating income: $47,750 Calculate the flexible budget variance for variable costs. A) $30,400 U B) $4,350 U C) $3,800 U D) $26,600 F

The following data relate to Gorr Company for the year ended December 31, 2012 . Gorr Company uses the accrual basis. Sales for cash $200,000 Sales for credit 220,000 Cost of inventory sold 180,000 Collections from customers 300,000 Purchases of inventory on credit 190,000 Payment for purchases 180,000 Selling expenses (accrual basis) 50,000 Payment for selling expenses 60,000 Which of the

following represents income for Gorr Company for the year ended December 31, 2010? a. $180,000 b. $185,000 c. $190,000 d. $200,000 e. None of the answers are correct.