The answer is true
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Answer:
Equity account
Explanation:
In the case when the cash is received in exchange of the common stock so here the cash is debited and credited the common stock i.e. equity account
The journal entry is
Cash Dr XXXXX
To Common stock XXXXX
(Being exchange is recorded)
here cash is debited as it increased the assets and credited the common stock as it also increased the equity
Answer: $3.10
Explanation:
The actual price per pound of direct materials purchased in June will be calculated as follows:
Let the actual price be represented by x.
Material price variance is calculated as:
= (standard price-actual price) × actual quantity
-2000 = (3 × 20000) - 20000x
-2000 = 60000 - 20000x
20000x = 60000 + 2000
20000x = 62000
x = 62000/20000
x = 3.1
Therefore, the actual price per pound of direct material bought in June is $3.10
Answer: The professors have failed to engage Mia.
Explanation: Since Mia is an administrative officer, assigned with the role of serving the needs of the division's professor, her having plenty of ’free time’ simply tells the professors do not engage her well enough in her primary duty as an administrative officer to keep her busy.
Answer:
$84.00
Explanation:
The cost of machining per phone will be calculated as;
Machine time required x cost per machine hour
Here Given is:
6 hours of machine time
$14.00 per machine hour rate
6 hours × $14.00 = $84.00
