Answer:
$880 favorable
Explanation:
The computation of direct materials price variance for last month is shown below:-
Direct material price variance = Actual quantity × (Standard price - Actual price)
= 2,200 × ($8 - ($16,720 ÷ 2,200)
= 2,200 × ($8 - 7.6)
= 2,200 × $0.4
= $880 Favorable
Therefore for computing the direct materials price variance for last month we simply applied the above formula.
Answer:
Therefore, An office is an important part of the organization in which different administrative and clerical functions are performed to achieve the objective of the organization. It has given importance to a functional area of business rather than a specific place. ... The office is the brain of an organization.
Answer:
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Explanation:
Answer: The income statement should reflect $15,000.
Explanation: The reason is because accounting procedures are always guided by certain principles or concepts. One of such concepts is the Realization Concept. This simply states that income is considered to have been earned when the goods/services have been dispatched /rendered to the client and the client has incurred liability for such (or has accepted his/her indebtedness). The Accrual Concept is also applicable in the above instance because this concept/principle states that revenues and expenses are recognized as soon as they are earned and incurred and not when money is expended or received. So basically, XYZ Law firm has provided services for two clients. One of them has paid while the other will pay sometime later. Both of them are already recognized as revenue and the current income statement will reflect revenue transactions to the tune of $15,000.
Answer:
d. $8.69
Explanation:
Activity rate for Activity 2 = Estimated Overhead Cost / Expected Activity
Activity rate for Activity 2 = $19,987.00 / 2300
Activity rate for Activity 2 = $8.69 per activity
