Answer:
Direct labor time (efficiency) variance= $22,000 favorable
Explanation:
<u>To calculate the direct labor efficiency variance, we need to use the following formula:</u>
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (3*8,000 - 22,000)*11
Direct labor time (efficiency) variance= (24,000 - 22,000)*11
Direct labor time (efficiency) variance= $22,000 favorable
Answer:
Value conflicts can be defined as the issues which arose when the standard or predicted results are not achieved.
Explanation:
In an organization, a values conflict might arise if decisions are made or actions taken that result in compromising a stated value. Tools to resolve value conflicts.
Ignorance: Ignorance can be useful sometimes. If a mistake is too small which can be ignored or which has not that much affect on the concern topic then it is necessary to ignore.
Mediate it: Sometimes, the small or unnecessary things turn into a big issue which can be dangerous if not mediate properly. Thus correct and timely mediation is a required factor to resolve value conflict.
The correct option is Option A - using credit to pay for purchases.
<span>Define what is meant by the phrase "planning materiality threshold".
Planning materiality threshold is defined as the complete materiality level for the financial statements in internal control. The auditor will establish a materiality level that is best based on the situation regarding the nature, extent and timing of the audit procedures. </span>
