What is a regular savings account traditionally called?

Peking Palace Company reported the following: Standard quantity per unit 3 lbs. Standard price per pound $2.75 Actual pounds use

SCORPION-xisa [38]

Answer:

$577.5 favorable

Explanation:

Data provided in the question:

Standard quantity per unit 3 lbs

Standard price per pound = $2.75

Actual pounds used = 15,000 lbs

Actual price per pound = $2.90

Number of units produced = 5,070

Now,

The direct materials quantity variance is given as;

= | ( Actual quantity - Standard quantity ) | × Standard price

= ( 15,000 lbs - {Standard quantity per unit × units produced}) × $2.75

= ( 15,000 lbs - { 3 × 5,070}) × $2.75

= | ( 15,000 lbs - 15,210 ) | × $2.75

= $577.5

Since,

Standard quantity is higher than the actual quantity

thus,

$577.5 favorable

7 0

3 years ago

Jefferson Tech Corp., a technology firm, has an internal search engine that helps employees find answers to queries. The search

Nimfa-mama [501]

Answer:

processing costs

Explanation:

Based on the information provided within the question it can be said that the cost incurred by Jefferson Tech Corp. is an example of processing costs. This term refers to the direct costs allocated to tools that allow the company to continue it's operations in an efficient manner. Therefore maintenance of the data management system (which is essential) are considered as processing costs.

7 0

3 years ago

A(n) ________ is defined as a business that is independently owned and operated and is not dominant in its field of operations.

Wittaler [7]

A Small business is defined as a business that is independently owned and operated and is not dominant in its field of operations.

7 0

3 years ago

In the marketplace, there are different types of fundamental drivers of social media engagement. The Wheel of Social Media Engag

olganol [36]

Answer: True

Explanation:

Social media engagement refers to the measurement of likes, comments, and shares. It should be noted that the greatest measure of social media success is simply the engagement of the audience.

It is vital for marketers to recognise how important engaging customers is. It should be noted that social media engagement and s a important and profitable way to engage ones customers as their current behavior can be taken into account and this is then used for making future references and behavior.

8 0

3 years ago

Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,400 tires to the Nixon Car Company for $55 e

Lunna [17]

Answer:

Dr Accounts receivable $77,000

Cr Sales $77,000

Payment within discount period:

Dr Cash $75,460

Dr Discount allowed $1540

Cr Accounts receivable $77,000

When payment is not made within discount period, the necessary entries would be:

Dr Accounts receivable $77,000

Cr Sales $77,000

Payment within discount period:

Dr Cash $77,000

Cr Accounts receivable $77,000

Explanation:

Upon sales on July 15 ,2021 the total sales value of $77,000 ($55*1400) is credited sales account and debited to account receivables.

Collection of cash on July 23 ,2021 implies that the payment was collected within the discount period,hence the amount received is selling price less 2% discount, and as a result cash collected is $75460 ($77000*98%)

When payment is made on August 15, no discount is given has discount period has lapsed.

3 0

3 years ago