Answer:
$20,000 Favorable
Explanation:
As for the provided information, we have:
Sales Volume Variance is defined as the variance arising due to difference in sales quantity based on standard price.
Formula for the above = (Actual Sales - Budgeted Sales)
Standard Price
= (5,500 - 5,000)
$40
= $20,000
This variance shall be categorized as favorable, as the actual sales quantity is more than the static budgeted quantity.
Therefore, Sales Volume Variance = $20,000 Favorable
Answer:
C) increase liabilities and assets by $20,000.
Explanation :
Any financial transaction affects both assets and liability equally. If asset is increased , liability also is increased and vice-versa.
In the given problem , Option A and option B states that while one increases , other decreases. which is not possible .
So option C is correct.
<h2>
<u>Application cover </u>letter follows a business letter format.</h2>
Explanation:
There are 3 types of cover letter
1. Application cover letter:
This cover letter follows a formal letter pattern and resume will be attached to the letter. Mostly it will be an application for the job posting on the job portal or other media.
2. Prospecting cover letter:
This is similar to Type 1 but its similar to inquiries about the job position in general.
3. Networking cover letter:
This is the most shortest and more casual and still sent by the job seeker for seeking help for his / her job search.
Answer: D. Specific identification
Explanation: The specific identification method of inventory taking is probably the most time consuming. This is because it is based on principles which are: being able to track each item in an inventory; being able to track the cost of each item individually; being able to relieve inventory for the specific cost associated with an inventory item when it is sold. It is quite clear then that despite its high degree of accuracy to the cost of inventory, it is very time-consuming as it tracks inventory items on individual unit basis restricting its use to smaller inventory volumes and smaller firms.