Answer:
Correct option is (C)
Explanation:
Under direct write off method, if a particular accounts receivable is written off, then no counter asset is created. Bad debt expense is debited and accounts receivable is credited.
As bad debt expense is reported on the debit side of income statement, profit reduces by the same amount thereby decreasing stockholder's equity. Since accounts receivable is credited, accounts receivable is decreased by the same amount in the balance sheet, thereby decreasing assets.
Answer:
Equilibrium
Explanation:
The supply of material meets the demand (intersect) of the people
Answer:
both
Explanation:
an entrepreneur primarily does the first, but the second is true because taxes are collected on materials which are sold.
Answer: $721 Unfavorable
Explanation:
The following can be deduced from the question:
Actual hours = 3690 hours
Standard hours = 3620 hours
Standard rate per hour = ($14000 + $27200) / 4000
= $41200 / 4000
= $10.30 per hour
Therefore, the overall variable overhead efficiency variance for the month is calculated as:
= (Actual Hours - Standard Hours) × Standard rate per hour
= (3690 - 3620) × $10.30
= 70 × $10.30
= $721 Unfavorable
