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enyata [817]
2 years ago
11

The standard rate of pay is $20 per direct labor hour. If the actual direct labor payroll was $117,600 for 6,000 direct labor ho

urs worked, the direct labor price (rate) variance is:
Business
1 answer:
White raven [17]2 years ago
5 0

Answer:

The variance is: $ 0.50 per direct labor hour.

Explanation:

Actual payroll = $117,000/6000h = $19.50 per hour

So, if we compare this value with the standard rate of pay ($20 per direct labor hour) The variance is: $20.00 - $ 19.50 = $0.50 per hour

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If I am starting a restaurant and taking all the risk, I am a ________.
elena55 [62]

Answer:

Sole proprietor

Explanation:

Sole proprietorship is a form of business in which an individual or a single person owns, control and manages a business. Anybody who is into such kind of business is known as a sole proprietor.

One of the downsides of sole proprietorship is the fact that the owner takes all the risk of the business. In other words, if the business suffers or fails, it is the sole proprietor that would be affected because he/she is the only person in charge of the business.

6 0
3 years ago
The adjusting entry to adjust supplies was omitted at the end of the year. This would affect the income statement by having expe
creativ13 [48]

Answer:

This would affect the income statement by having expenses

c. understated and therefore net income overstated revenues

Explanation:

Adjusting Entry:

It is such entry which is added at the end of the fiscal period in order to make the income statement accurate.

Overstated:

In Accounting, overstated amount means that amount is greater than the true amount.

Understated:

In Accounting, if an amount is less than the true amount then it is known as understated.

  • As in our case, the adjusting entry for supplies was not added so in this way expenses became understated means they become less as compared to actual expenses. Therefore, revenues overstated.

5 0
3 years ago
Read 2 more answers
2. In order to expedite basic performance improvement team functioning, the team should: A. Establish ground rules. B. Perform f
olya-2409 [2.1K]

Answer:

2-  A. Establish ground rules

3-  D. Top management’s requirements.

Explanation:

2- An effective team is a well-integrated team, where the flow of information occurs effectively and where each member feels equally respected and an important part of the team, being able to contribute with ideas and feedback.

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3- to guide the process of the performance improvement team, the most important alternative is the requirements of senior management.

It is the managers who will coordinate, monitor and guide the action plans and develop the fundamental requirements for the execution of the business actions that will lead to the fulfillment of the objectives and goals.

8 0
3 years ago
The company shipped merchandise valued at $100,000 F.O.B. destination on December 28, Year 3, and recorded the sale and relief o
kondor19780726 [428]

Answer:

The company must not make any adjustment entries in year x3 since the FOB means "Free on board" and at the moment the buyer delivers the goods at the port of shipment, at that time the risks of loss or damage of merchandise are transferred to the buyer from the seller

When this happens, the sale is made since the seller no longer owns the merchandise.

n this case, the seller does not own the merchandise since December 28 and has already made the corresponding records. so he should not make any adjustments.

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