Answer: D. Both B and C are correct
Explanation:
Based on the scenario and the information provided in the question, we should note that Melissa qualified as a qualifying rekative because there is no age limit on qualifying relatives.
Also, since Melissa doesn't earn any income in 2019 because she's a full time graduate student, Melissa qualifies based on her earned income.
Therefore, option B and C are correct.
Answer:
Better financing options. ...
Already established brand. ...
Existing customers. ...
Well-established supply chain. ...
Access to trained staff and proven internal processes. ...
More financial reward in growth. ...
Greater likelihood of success.
Explanation:
Answer:
$44,600
Explanation:
The computation of the balance of the cash account after the transactions are posted is shown below:
Invested cash in shop $41,300
Less: Paid cash for receptionist salary -$2,500
Add: Receive cash from sale of frame $5,800
Balance of the cash account $44,600
We simply added the cash received and deduct the cash paid to the invested amount of cash in a shop so that the correct value could arrive
Answer:
b. $5,870
Explanation:
Data given in the question
Cash balance per books, May 31 $5,400
Deposits in transit $375
Notes receivable and interest collected by bank $650
Bank charge for check printing $40
Outstanding checks $2,400
NSF check $140
The computation of the adjusted cash balance per books is shown below:
= Cash balance per books + Notes receivable and interest collected - Bank charges - NSF check
= $5,400 + $650 - $40 - $140
= $5,870
Answer:
1. $10
2. The fixed overhead budget variance and volume variance is $4,000 unfavorable and $10,000 favorable respectively
Explanation:
1. The computation of the predetermined overhead rate for the year is shown below:
Predetermined overhead rate = (Total estimated budgeting fixed manufacturing overhead) ÷ (estimated direct labor-hours)
= $250,000 ÷ 25,000 hours
= $10
2. The computation of the fixed overhead budget variance and volume variance is shown below:
Fixed overhead budget variance = Actual fixed overhead cost for the year - Total budgeted fixed overhead cost for the year
= $254,000 - $250,000
= $4,000 unfavorable
Volume variance = (Budgeted direct labor hours - standard direct labor hours) × predetermined overhead rate
= (25,000 hours - 26,000 hours) × $10
= $10,000 favorable