Answer:
Journal Entries
1) Debit Salaries Expense $6,667 Credit Bank $6,667
2) Debit Fuel and Maintenance expense $600, Credit Bank $600
3) Debit Depreciation Expense $amount Credit Accumulated depreciation $amount
4) Debit Insurance Expense $amount Credit Bank $amount
5) Debit Benefit Expense $amount Credit Accrued Benefit Expense $amount
6) Debit Accounts Receivable ( total of all trips) $amount Credit Service Revenue $amount
Explanation:
The Question is incomplete but i will do the typical journal entries to the transactions without figures.
1) The salaries are for one month and in brackets there is a $80,000*1/12 calculation meaning the $80,000 is for the year, now if it was already recorded then we debit salaries payable $6,667 credit bank $6,667
4) Insurance expense is debited if it is paid as it is incurred but if it has an Prepaid insurance account then we credit the Prepaid insurance account instead of Bank.
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Answer:
Variable overhead efficiency variance= $558 favorable
Explanation:
Giving the following information:
Variable overhead 0.60 hours $ 3.10 per hour
Actual output 4,100 units
Actual direct labor-hours 2,280 hours
<u>To calculate the variable overhead efficiency variance, we need to use the following formula:</u>
Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate
Variable overhead efficiency variance= (0.6*4,100 - 2,280)*3.10
Variable overhead efficiency variance= $558 favorable
Lowest because to show how scarce it is it will have to be low
Answer:
Pedestrian : A person who walks on foot rather than in vehicles.
