Answer:
$30 million
Explanation:
The university collected $45 million for the summer semester which runs from June 1 to July 15 ( a 45 day period).
The revenue recognition principle states that revenue should only be recognized when the earning process has been substantially completed.
Therefore, the university should recognize revenue proportional to the 30 days of June = ($45 million / 45 days) x 30 days = $30 million
Answer:
So a favorable material price variance might be more than offset by an adverse usage variance
Explanation:
<em>Material price variance</em>
<em>A material price variance occurs where materials are purchased at a price either lower or higher than the standard price. </em>A favourable variance is recorded where the actual total cost of materials of a given quantity is lower that the standard cost. While an adverse variance implies the opposite
<em>Material usage variance</em>
<em>A material usage variance occurs when the standard quantity required to active a particular level of production is higher or lower than than the actual actual quantity used.</em> A favorable variance would mean than less quantity of materials were used than the standard to achieve a given output level. And an adverse variance would mean the opposite
<em>Relationship between Usage variance and Price variance</em>
Where savings are made from purchase of cheap and inferior quality materials these might lead to an adverse usage variance by a greater value .This is so because workers might need to use a larger quantity ( more than the standard required) of a low-quality materials to achieve production.
So a favourable material price variance might be more than offset by an adverse usage variance
Because the offsprings spends nearly 30% of their life around them especially in the early stages
Answer:
Dr. Cr.
(1)
The company purchased
195 units at $44 each
Inventory (195 x 44) 8,580
Account Payable / Cash 8,580
(2)
Returned 8 units
for credit
Account Payable / Cash 352
Inventory (8 x 44) 352
(3)
Sold 163 units
at $65 each.
Account receivable / Cash 10,595
Sales ( 163 x 65 ) 10,595
Cost of Goods sold 7,172
Inventory 7,172
Inventory Account: Dr. Cr. Balance
Opening Balance ( 65 x $44 ) $2,860
(1) Purchase $8,580 $11,440
(2) Purchase Return $352 $11,088
(3) Sale $7,172 $3,916
Inventory Closing Value is $3,916.
Answer:
c) balanced scorecard
Explanation:
The options for the question we are;
A) market value
B) economic value
C) balanced scorecard
D) financial control
c) balanced scorecard
A balanced scorecard can be regarded as a strategic management performance that is engaged in the improvements as well as identification of internal business functions as well as external outcomes that result from there. It is a tool that helps in returning feedback to an organization. It should be noted that balanced scorecard approach to performance measurement was introduced as a way to evaluate organizational performance from more than just the financial perspective.
