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34kurt
2 years ago
15

The difference between the standard cost of a product and its actual cost is called a variance.

Business
1 answer:
-Dominant- [34]2 years ago
7 0

The difference between the standard cost of a product and its actual cost is called a cost variance. Therefore the statement is true.

<h3>What is the objective of variance?</h3>

Changing across all of the pieces of information in a data set, variance is a measurement of distribution. It enables us to estimate how far away a set of factors are from each other.

To describe the variation or difference between the standard cost of a product and its actual cost the use of cost variance is done. It is utilized to estimate the financial performance of any project.

Therefore, the statement is True.

Learn more about Variance, here:

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. Describe 3 trends that you've noticed, and explain how each one might generate a small business opportunity
Sliva [168]

Explanation:

  • Online shopping platform
  • Counselor
  • Food corner

These are the three trends for small scale business which can be changed into the small business opportunities.

Online shopping platform- It can be seen as the need of the present time as everyone is now depended on the online sources through which they can but the stuff they want to without going out.

Counselor - It is one of the most professional business in which a person can just changed the lives of the people with the power of words and ideas. In present time people really look for the person who can help them without passing any judgement.

Food corner- The need of each and every person, food corner is one of the thing which every want to at every street or corner.

4 0
4 years ago
Jabari is power washing houses for a summer job. for every job, he charges an initial fee plus \$30$30dollar sign, 30 for each h
barxatty [35]

f(t) = 50 + 30t

Step-by-step explanation:

Let,Jabari total fee = f (in dollars) and the time taken per hour = t

Let, the initial fee charged = x dollars.

It is given that, $30 is charged per hour for his work.

As, the total fee charged for 4 hour job is 170.

We get the equation,

Initial fee + 30 × 4 = 170

i.e. x + 120 = 170

i.e. x= 170 - 120

i.e. x = 50

Thus, the initial fee is $50

So, Jabari's total fee is given by,

f(t) = Initial fee + 30 × Fee per hour

i.e. f(t) = 50 + 30t

Hence, the function formula for the given situation is f(t) = 50 + 30t.

What is Function formula ?

function, in mathematics, an expression, rule, or law that defines a relationship between one variable (the independent variable) and another variable (the dependent variable).

If a variable y is so related to a variable x that whenever a numerical value is assigned to x, there is a rule according to which a unique value of y is determined, then y is said to be a function of the independent variable x.

This relationship is commonly symbolized as y = f(x)—which is said “f of x”—and y and x are related such that for every x, there is a unique value of y. That is, f(x) can not have more than one value for the same x. To use the language of set theory, a function relates an element x to an element f(x) in another set. The set of values of x is called the domain of the function, and the set of values of f(x) generated by the values in the domain is called the range of the function.

Learn more about function formula use :

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3 0
1 year ago
A successful leader at Uber needs to understand how all the different parts of this complex organization work together. This mea
jenyasd209 [6]

We are need skills to be able to do work. The above means that the leader’s management  or organizing skills are particularly important.

<h3>The act of Organizing</h3>
  • Organizing is simply known as when one is involve in assigning tasks, giving tasks into departments, sharing authority, and allocating resources  etc. in all aspect of the organization.

During the organizing process, managers coordinate employees, resources, policies, and procedures to facilitate the goals identified in the plan.

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8 0
2 years ago
PHN Foods granted 18 million of its no-par common shares to executives, subject to forfeiture if employment is terminated within
GuDViN [60]

Answer:

A. 2019

Dr Compensation expense $30 million

Cr Paid-in capital—restricted stock $30 million

2020

Dr Compensation expense $30 million

Cr Paid in capital-restricted stock $30 million

B. $12 million

Explanation:

a. Calculation to determine What journal entry will PHN Foods prepare to record executive compensation regarding these shares at December 31, 2019 and December 31, 2020

First step is to calculate the fair value of award using this formula

Fair value of award=Fair value per option×Options granted

Let plug in the formula

Fair value of award=$5*18 million

Fair value of award=$90 million

Based on the above calculation the amount of $90 million total compensation will be expensed equally over the vesting period of 3 years thereby reducing Earnings by the amount of $30 million calculated as ($90 million/3 years) each year

Now let Prepare the journal entry

2019

Dr Compensation expense $30 million

Cr Paid-in capital—restricted stock $30 million

($90 million/3 years)

2020

Dr Compensation expense $30 million

Cr Paid in capital-restricted stock $30 million

($90 million/3 years)

b. Calculation to determine what will be the net increase in the denominator of the EPS fraction

Using this formula

EPS fraction net increase= 2020 shares - Restricted shares

Let plug in the formula

EPS fraction net increase= $30 million - $18 million

EPS fraction net increase= $12 million

Theretore what will be the net increase in the denominator of the EPS fraction iis $12 million

4 0
3 years ago
The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicat
iris [78.8K]

Answer:

1. Accounts Payable BALANCE SHEET under liabilities

2. Depreciation Expense-Equipment  INCOME STATEMENT under expenses

3. Gary VD, Capital  BALANCE SHEET under owner's equity and/or STATEMENT OF OWNER'S EQUITY depending on the total number of owners of the company

4. Office Equipment  BALANCE SHEET under assets

5. Rent Revenue  INCOME STATEMENT under revenue

6. Supplies Expense  INCOME STATEMENT under expenses

7. Unearned Revenue  BALANCE SHEET under liabilities

8. Wages Payable  BALANCE SHEET under liabilities

5 0
3 years ago
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