Answer:
b) 2 only
Explanation:
The Social Security Act set up the Old Age and Survivors Insurance Trust Fund (OASI), from which retired individuals receive their payments. These benefits are subject to taxes, and can be withheld if a debt is incurred or an over-payment occurs.
Answer:
Explanation:
Had to use microsoft word in other to be able to arrange the solution properly. And i hope it helps you. Thank you
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Answer:
Variable overhead efficiency variance= $19,952 unfavorable
Explanation:
Giving the following information:
Standard hours per unit of output 5.2 hours
Standard variable overhead rate $11.60 per hour
Actual hours 2,500 hours
Actual output of 150 units
<u>To calculate the variable overhead efficiency variance, we need to use the following formula:</u>
Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate
Standard quantity= 5.2*150= 780
Variable overhead efficiency variance= (780 - 2,500)*11.6
Variable overhead efficiency variance= $19,952 unfavorable
Answer:
Current ratio = 2.25
Acid test ratio = 1.25
After Taking Loan
Current ratio = 1.64
Acid test ratio = 0.91
Explanation:
Current Ratio is the comparison of company's short term assets and short term liabilities to see if the company is able to pay its short term liabilities.
Current Ratio = Current Assets / Current Liabilities = $90,000 / $40,000 = 2.25 times
The company can pay 2.25 time the current liabilities from its current assets.
Asset test ratio compares company's most short term assets with most short term liabilities to check that if company is able to pay all the immediate liabilities it become due.
Acid Test ratio = ( 90,000 - 40,000 ) / 40,000 = 1.25
After taking the bank loan
Total current Liabilities = $15,000 + 40,000 = $55,000
Current ratio= $90,000 / $55000 = 1.64
Acid test ratio = $50,000 / $55000 = 0.91
