Answer:
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Answer
2
Explanation:
Cost index in dollar - value LIFO method is used to determine the change in prices since the beginning of he base year by comparing the year end inventory to the base layer cost.
The extended cost of the ending inventory at the most recent price is divided by the cost of the ending inventory at the base year price.
Workings
Cost in term of base layer = $50,000
Cost in term of the layer layer $100,000
Cost index = 100000/50000 = 2
Answer:
If Interest is not Paid yet
Nantucket Ferry
Dr. Interest Expense $840,000
Cr. Interest payable $840,000
BankOne
Dr. Interest receivable $840,000
Cr. Interest Income $840,000
If Interest is Paid
Nantucket Ferry
Dr. Interest Expense $840,000
Cr. Cash $840,000
BankOne
Dr. Cash $840,000
Cr. Interest Income $840,000
Explanation:
Amount of interest is the expense for Nantucket Ferry and Income for the BankOne on the bond.
As per given data
Amount borrowed = $14,000,000
Coupon rate = 6%
Interest in paid on and received on the bnd is calculated by using the face value and coupon rate of the bond.
Coupon Payment = $14,000,000 x 6% = $840,000
$840,000 will be paid annually to the Bank one.
Answer:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual hours
Explanation:
Giving the following information:
The production used 2.5 labor hours per finished unit, and the company paid $21 per hour, totaling $52.50 per unit of finished product.
<u>We weren't provided with enough information to solve the problem. We need estimated production hours and rates. But, I can leave the formula to solve it.</u>
To calculate direct labor rate variance, we need to use the following formula:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Hours
Answer:
Advantages of Informal Sector employment:
Some employers pay well because company owners do not have many tax obligations. Employee effort is directed towards achieving profit rather than satisfying irrelevant routines.
There can be a close and direct relationship with the employer, therefore making it easy to get permission when in need of time off.
You are saved the hassle of paying Pay As You Earn tax.
There’s no red tape when it comes to dealing with personnel issues which are expressly handled either by the employer him/herself, or a senior manager.
Sometimes employment is done on the spot with little emphasis on attending lengthy job interviews and countless aptitude tests.
Sometimes one is employed because of one’s personal relationship with the employer rather than on merit.
Disadvantages of Informal Sector employment:
Little or no job security.
Unprotected by labour laws.
Odd working hours.
No pension, insurance or health insurance scheme.
Summary dismissals.
Difficult to make any savings due to low wages.
A brief illness or injury or injury can mean no financial means to survive.
Explanation:
