Answer: $528 favorable
Explanation:
The Spending variance for supplies shoes the difference between what the company thought it would spend on supplies and what it actually spends.
Spending variance on supplies = Actual costs - Budgeted costs
Budgeted cost:
= 968 + 8 * 470 frames
= 968 + 3,760
= $4,728
Spending variance on supplies:
= 4,200 - 4,728
= $528 favorable
<em>Variance is favorable when the Budgeted costs are higher than actual costs. </em>
Answer:
Factors of production
Explanation:
Factors of production are inputs needed in the production of goods and services. They are land, labour, capital and entrepreneurship.
Land includes all natural resources.
Labour is all human resources.
I hope my answer helps you.
Answer:
5.52%
Explanation:
For computing the coupon rate we first have to determine the PMT by applying the PMT formula
Given that,
Present value = $954
Future value = $1,000
Rate of interest = 6.2%
NPER = 9 years
The formula is shown below:
= PMT(Rate;NPER;-PV;FV;type)
The present value come in negative
So, after solving this, the monthly payment is $55.18
Now the coupon rate is
= $55.18 ÷ $1,000
= 5.52%
Answer:
The auditor is entitled to collect the audit fee and is not liable for $90 000.
Explanation:
Ace & King did their job in a competent way, the fact that the company's controller was doing something illegal is not their responsibility. External auditors work with the information that is given to them and their job is limited to analyzing them and making their conclusions about them.
In this case, the controller was the person responsible for giving the information to the auditing company, so he had the chance to direct their conclusions. An external auditor is not responsible for what happens inside a firm, and if someone steals money or assets, he/she is responsible for it.
Answer: Price of pumpkins will fall compared to last year.
Explanation: Favorable weather leading to a larger crop than usual means that there is more supply of pumpkins this year than before. Shifting the supply curve down to the right. At the same time, when people switch away from jack-o'-lanterns towards buying more costumes, it leads to a decline in the demand for pumpkins shifting the demand curve to the left.
The net result will be a decline in the demand for fall in the price of pumpkin. However, the effect on the quantity cannot be determined as it depends on the magnitude of shift in the two curves.
