The corporate employee is most likely to be stimulated by achievement. By taking up something has a hobby and being good at it and then earning some income off of it, he/she is achieving success from the talent they have learned. By being satisfied of her work and able to share it with others, she's achieving her goals and surpassing them.
Answer:
A. Work-In-Process Inventory xxx Materials Inventory xxx
Explanation:
The journal entry to record the requisition of direct material is shown below:
Work in process inventory Dr XXXXX
To Material inventory XXXXX
(Being the requisition of the direct material is recorded)
While recording this entry we debited the work in process inventory and credited the material inventory so that the proper posting could be done
Answer:
Credit to cash $230
Explanation:
Preparation of the Journal entry for the reimbursement of the account of Spencer Co.
Based on the information given we were told that the company spent the amount of $51 for delivery expenses, the amount of $159 for merchandise inventory, and the amount of $20 for miscellaneous expenses from their petty cash fund at the end of the month, which means that the journal entry to record the reimbursement of the account will be:
Dr Delivery expenses $51
Dr Merchandise inventory $159
Dr Miscellaneous expenses $20
Cr Cash $230
(To record petty cash reimbursement)
Answer:
Results are below.
Explanation:
<u>To calculate the direct material rate and quantity variance, we need to use the following formulas:</u>
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (0.55 - 0.54)*4,000
Direct material price variance= $40 favorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (0.75*4,800 - 3,588)*0.55
Direct material quantity variance= $6.6 favorable
<u>Finally, the total variance:</u>
Total direct material variance= 40 + 6.6= $46.6 favorable
