Answer:
the labor rate variance is $16,000 unfavorable
Explanation:
The computation of the labor rate variance is shown below:
As we know that
Labour Rate Variance = ( Actual Rate - Standard Rate) ×Actual Hours Worked
= ($160,000 ÷ 22,000 direct labor hours - $8) × 22000 direct labor hours
= ($7.27 - $8) × 22000 direct labor hours
= $16,000 Unfavorable
hence, the labor rate variance is $16,000 unfavorable
We simply applied the above formula so that the correct value could come
And, the same is to be considered
<span>A deterrent is a consequence for an unwanted action that is used as a way of making people decide to forego the unwanted action to avoid the consequences. For example, capital punishment and jail time acts as a deterrent for violent crimes. While someone might be upset and emotional at a time, they may practice physical restraint from acting aggressively to avoid the possibility of being arrested, charged, and eventually incarcerated for battery.</span>
Answer:
The answer is Selling Stocks
Answer:
Paid in capital excess of par is $$309,000
Explanation:
<u>Journal Entries</u>
Debt: Legal services (4,100 hours × $100 per hour) = $410,000
Credit: Common stock (101,000 shares × $1 par) = $101,000
Credit: Paid-in capital - excess of par (Remainder) = $309,000
To record the 101,000 shares compensated by 4,100 legal hours with $1 par value)
In the above transaction common stock issued in excess of par for legal services as compensation instead cash. Hence "legal services" have been debited as issuing company benefited for legal services. "Common stock" and "paid in capital in excess of par" has been credited as this issuing company issuing common stock.
Paid in capital excess of par is $$309,000
Answer:
The amount of revenue recognizable in 2021 is $84000 as shown below
Explanation:
Since the revenue spans over two years,8 months in the year 2021 and the remaining 4 months relate to 2022, the revenue should be recognized on proportional basis.
The revenue in 2021 =total revenue*months in the year/12 months
=$126000*8/12
=$84000
This amount is recorded on monthly basis by crediting revenue with one month sales revenue value $10500($126,000/12) and debiting to deferred revenue.
At the end of the year four months worth of revenue amount would be left in deferred revenue account as revenue for 8 months would have been recognized.
