Please show working for Q3 and the right option for Q4. 8 pt Be Careful X Compan

Question

Please show working for Q3 and the right option for Q4. 8 pt Be Careful X Company's 2014 Bexible badget for variable overhead was $118,826. The company huad expected to produce 10,800 units, but actually produced 11,800 units. What was the 2014 static (master) budget for variable overhead (round unit costs to the nearest cent and total costs to the nearest dollar)(? 3. AO 992,443 BOS101,143 C0S108,756 DO $118,826 EOsi29FO $130,700 8 pt Be Careful X Company is an insurance company. Whenever one of its customers buys an insurance policy and pays the premium, X Company's accountant should 4.AO decrease Cash and decrease Deferred Revenue BO increase Cash and increase Insurance Payable. CO increase Accounts Receivable and increase Retained Earnings. DO increase Cash and increase Retained Earnings. EO increase Cash and increase Deferred Revenue. FO incresse Cash and increase Paid-In Capital.

Explanation / Answer

Q3) Variable overhead unit cost = (118826/11800) = 10.07 per unit

Static Variable overhead = (10800*10.07) = 108756

so answer c) $108756

Q4) X company an insurance company. A customer buy insurance policy so entry is cash increase and increase deferred revenue.

So answer is e) increase cash and increase deferred revenue

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