Answer:
2nd option is correct.
Explanation:
Variable over head = (Actual Qty. - Standard Qty. ) * Standard cost
Efficiency variance
= (10125-9000) * 30
= $ 33750 (Un-Favorable)
2nd option is correct.
Variance is unfavorable because actual quantity used to produce is more than budgeted quantity allowed at that level of production.
Answer: the correct answer is $169,000
Explanation: the warranty expenditures during the year is $195,000 minus the increment in the liability account $26,000 equals $169,000.
Answer:
$3,355
Explanation:
Accounts receivables = $ 352,000
Debit Allowance for uncollectible accounts = 630
Net Sales = $797,000
The company estimates that 0.5% of net credit sales are uncollectible
Estimates of uncollectible receivables
= 0.5% × $797,000
=$3985
This is the total amount to be recognized at the end of the year as Bad Debts Expense. Since a debit of $630 has been recognized already, additional debit required
= 3985 - 630
= $3,355
The amount to be debited to Bad Debts Expense when the year-end adjusting entry is prepared is $3,355.
Answer: Both I and II
I. The assumed health care cost trend rate used to measure the expected cost of benefits covered by the plan. II. The accumulated post retirement benefit obligation.
Explanation:
Company must disclose the expected cost of benefits covered by their health care plan and also the accumulated post retirement benefit plan obligation.
The worlds first and modern bank opened during the 14th century in Florence, Italy and later many branches were established in other parts of Europe. Even though the banking system became very crucial in the 14th century, the Bardi and Peruzzi families were able to start and establish several branches during this century.
