Answer: $600F
Explanation:
Given the following :
standard unit price - $1.80
actual purchase price per unit - $1.65
actual quantity purchased - 4,000
units actual quantity used - 3,900
units standard quantity allowed for actual production - 3,800 units
Material purchase price variance = ( Actual unit price of material - standard unit price of material) × Actual unit of material purchased
($1.65 - $1.80) × 4000
( $0.15) × 4000
$600F (Favorable) because standard price is higher than actual price
Answer: 1. B. Petty Cash
2. D. Petty Cash
3. D. Debit petty cash and credit cash
Explanation:
1. When creating the Petty Cash fund, Cash is credited because money is being removed from it. It is then put into the Petty Cash account hence a debit.
2. When taking money from Petty Cash, it is an asset and so is credited to reflect the outflow.
3. Similar to the transaction in question 1. You are taking money from cash account to.put in Petty Cash so the right procedure is to debit Petty Cash and credit Cash.
<span>An effective team would never have only one person do the work.
An effective team would work together as one to strive for their goal.
</span>
Answer:
D.
Explanation:
If you improve product performance more people would want to buy the one with improved performance.
The act of specialization is the division of a work process into distinct tasks that are necessary to the organisation or business but cannot be carried out by a single person.
What Are the Economic Impacts of Specialization?
- When the innate differences in human productivity are accentuated along different skill lines, specialization and the complementary concept of division of labour occur.
- A person becomes more economically specialised as they focus their productive efforts on an ever-narrower range of tasks.
- The most obvious economic impact of specialization is the propensity for people to choose a variety of professions that are more in line with their interests, capabilities, chances, and education.
- Economic agents that concentrate on a certain task become more adept at it. Because repetition and muscle memory increase productivity, both preschoolers and professional athletes practise before a game.
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