Answer:
15,351.00 unfavourable
Explanation:
<em>Material quantity variance occurs when the actual quantity used to achieved a given level of output is more or less than the standard quantity.</em>
<em>It is determined by the difference between the actual and standard quantity of material for the actual level of output multiplied by the the standard price</em>
gram
300 units should have used (300× 4.6) 1380
but did used <u>2,400</u>
1020
Standard price ×<u> 15.05</u>
Material quantity variance 1<u>5,351.00</u> unfavourable
Answer:
D) A doubling of the price of salt led to 5 percent drop in the quantity of salt purchased.
Explanation:
Law of supply in economics says that when the price increases the supply too increases if other factors is is constant.
Therefore, among the given options the only option that is consistent with the law of supply is "A doubling of the price of salt led to a 5 percent drop in the quantity of salt purchased"
Answer:
Holly must save $2845.81 at the end of each year
Explanation:
first calculate the value of tuition fees at n = 18
Cash flow formula = Tuition × 
Discounted CF formula = Cash flow ÷ 
10.00% 0
Year Cash flows Discounted CF
0 33,799.32 33799.32
1 36,165.28 32877.52
2 38,696.84 31980.86
3 41,405.62 31108.66
FV = $129,766.37
PV = 0
N = 18
rate = 10%
using PMT function in Excel
Annual contribution = $2845.81
Answer:
1. Once a month, the sales department sends sales invoices to the accounting department to be recorded.
⇒ documentation procedures
Unless all of the company's sales take place only once a month, sales should be recorded as soon as possible. Accounting records must be as precise and accurate as possible, and they must be processed on time. Stacking invoices makes no sense, since sales might be on cash or the collection period might be very short. Who holds the money until the sales records are made?
2. Leah Hutcherson orders merchandise for Rice Lake Company; she also receives merchandise and authorizes payment for merchandise.
⇒ segregation of duties
One single person cannot be responsible for the whole process, since this creates a huge opportunity for fraud. Imagine if the person in charge of the inventory is also in charge of making new purchases, paying for them and reporting ending inventory. No company would be able survive one year, while the person in charge would get rich.
3. Several clerks at Great Foods use the same cash register drawer
⇒ establishment of responsibility
If everyone is allowed to collect money, no one can be responsible for any loss.
<span>The rules for the Roth early distribution are as follows :
Unless an exception applies, most distributions from a Roth IRA before the owner reaches age 59 1/2 will be subject to an "early withdrawal penalty" of 10% on the amount of the distribution. This is IF a person has kept the amount in the account for
his required five year tax period rule. If this condition has been met, the total penalty would be $ 2000.00</span>
