Answer:
Adjusting entry
No Account & Explanation Debit Credit
a) Supplies Expense $637
(245+735-343)
Supplies $637
(To record supplies adjusted)
b) Interest expense $170
Interest payable $170
(To record accrued interest)
c) Wages and salaries expense $5350
Wages & salaries payable $5350
(To record wages and salaries expense)
d) Unearned fees $27600
(46000*60%)
Fees earned $27600
(To record fees earned)
e) Account receivable $5700
Fees earned $5700
(To record fees earned)
Answer:
b. 15 and 20
Explanation:
Given that an average housekeeper needs about fifteen to thirty minutes to clean a room during a shift. And the work time always happen when hotel visitors are out of their rooms for activities, or they elapsed their duration. Also, noting that a shift for housekeeper is at average of eight to ten hours.
Hence, depending on the type of hotel, housekeeping associates typically service between fifteen to twenty rooms per day which equates to average of 5 - 6 hours full of work.
Answer:
The total cost of vacation pay and pension rights to be recognized the first year is $0
Explanation:
The vacations are expected to be taken the following year for which the vacation pay would be made and the pension rights are expected to be paid over the next 5-30 years. So, no cost is recognized in the first year
Answer:
Direct material price variance= $658 favorable
Explanation:
Giving the following information:
Standard cost= $3.50 per pound.
During December, All Coronado purchased 4700 pounds of material for $15,792.
To calculate the direct material price variance, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
Actual price= 15,792/4,700= $3.36
Direct material price variance= (3.5 - 3.36)*4,700
Direct material price variance= $658 favorable