I would say "B. Who is the enemy?" , because of its generalization and vagueness. I recommend looking deeper into the definitions, but who is the enemy is definitely my choice.
Answer: Moderate or low
Explanation:
Tests of Control are one by auditors to determine the effectiveness of the internal controls in the company in being able to detect accounting errors and anomalies.
If a company seems to have a moderate or low inherent risk the Auditors may or may not initiate Tests of Control due to this reduced risk.
If the company however, has either high or moderate or unusually high risk, the Auditors have to perform Tests of Control to determine where the company is going wrong.
Answer:
1,370.85 Unfavorable
Explanation:
Standard rate
:
= Budgeted variable overhead costs ÷ Budgeted direct labor hours
= $13500 ÷ 640
Direct labor hours = $21.09 per direct labor hour
Standard time to produce goods
:
= Budgeted direct labor hours ÷ Production volume
= 640 ÷ 6,400
= 0.10 hours
VOH Efficiency Variance
= ( SH − AH ) × SR
where,
SH are standard direct labor hours allowed
AH are the actual direct labor hours
SR is the standard variable overhead rate
(SH − AH ) × SR
= [(4,200 × 0.10) - 485] × $21.09
= (420 - 485) × $21.09
= 1,370.85 Unfavorable
Answer:
STOCKHOLDERS EQUITY
Common Retained Stockholders
stock earnings equity
Beginning balance January 1 153.000 53.000 206.000
Issuance of common stock 43.000 43.000
Net income for the period 33.000 33.000
Cash Dividens (10.300) (10.300)
Ending balances December 31 196.000 75.700 271.700
BALANCE SHEET
Cash 52.900
Supplies 11.200
Prepaid Rent 25.500
Land 215.000
Total Assets 304.600
Account payable 8.100
Utilities payable 3.000
Salaries payable 3.800
Notes payable 18.000
Total liabilities 32.900
Common stock 196.000
Retained earnigs 75.700
Total stockholders 271.700
Liablities and
Stockholders 304.600
Explanation:
STOCKHOLDERS EQUITY
Common Retained Stockholders
stock earnings equity
Beginning balance January 1 153.000 53.000 206.000
Issuance of common stock 43.000 43.000
Net income for the period 33.000 33.000
Cash Dividens (10.300) (10.300)
Ending balances December 31 196.000 75.700 271.700
BALANCE SHEET
Cash 52.900
Supplies 11.200
Prepaid Rent 25.500
Land 215.000
Total Assets 304.600
Account payable 8.100
Utilities payable 3.000
Salaries payable 3.800
Notes payable 18.000
Total liabilities 32.900
Common stock 196.000
Retained earnigs 75.700
Total stockholders 271.700
Liablities and
Stockholders 304.600
