Answer:
Cutting Department:
Rate variance = 6380*(10.9-11) = -638 Favorable
Time variance = 11*(6380-25000*0.25) = 1430 Unfavorable
Total direct labor cost variance = (6380*10.9)-(25000*11*0.25) = 792 Unfavorable
Sewing Department:
Rate variance = 9875*(11.12-11) = 1185 Unfavorable
Time variance = 11*(9875-25000*0.4) = -1375 Favorable
Total direct labor cost variance =(9875*11.12)-(25000*11*0.4) = -190 Favorable
Answer:
The correct answer is B. 6.000
Explanation:
Gross profit only includes Sales Revenues and cost of goods sold. So you have to ignore all others. In this case the solution is given for Sales Revenues 10.000 - cost of goods sold 4.000 = Gross profit 6.000. Hope it helps
If the<u> demand curve is inelastic</u>, a rise in the supply of grain will result in a decrease in the overall income received by grain producers.
The ability of firms to enter and exit a market over time means that, in the long run, the supply curve is more elastic.
Two basic economic concepts are combined in the law of supply and demand to explain how shifts in the price of a resource, good, or service affect its supply and demand. As the price rises, supply increases while demand decreases. On the other hand, as the price falls, demand increases and supply becomes more limited.
The degree to which changes in price translate into changes in demand and supply is known as the product's price elasticity.
Basic consumer demand is comparatively inelastic, or less responsive to price changes.
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To record On Jan 2, Callie Taylor received a $700 payment from a customer formerly billed for services performed. The journal entry to record this transaction would contain a debit to the cash account and a credit to the Accounts Receivable account.
<h3>What is Journal entry?</h3>
A journal entry exists as an act of keeping or creating records of any transactions either economic or non-economic. Transactions exist listed in an accounting journal that indicates a company's debit and credit balances. The journal entry can consist of several recordings, each of which exists either a debit or a credit.
A journal entry exists as a record of the business transactions in the accounting books of a business. A properly recorded journal entry consists of the correct date, amounts to be debited and credited, an explanation of the transaction, and a unique reference number. A journal entry exists as the first step in the accounting cycle.
Hence, To record On Jan 2, Callie Taylor received a $700 payment from a customer formerly billed for services performed. The journal entry to record this transaction would contain a debit to the cash account and a credit to the Accounts Receivable account.
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Answer:
$43,500
Explanation:
Calculation for What is the revised depreciation expense for 2022
2022 Revised depreciation expense=290,000/4 years
2022 Revised depreciation expense=72,500
2022 Revised depreciation expense=(290,000-72,500)/(6-1)
2022 Revised depreciation expense=217,500/5
2022 Revised depreciation expense=$43,500
Therefore the revised depreciation expense for 2022 is $43,500
