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kherson [118]
3 years ago
8

Ramkissoon Midwifery's cost formula for its wages and salaries is $2,060 per month plus $442 per birth. For the month of July, t

he company planned for activity of 117 births, but the actual level of activity was 114 births. The actual wages and salaries for the month was $54,500. The spending variance for wages and salaries in July would be closest to:
Business
1 answer:
iragen [17]3 years ago
6 0

Answer:

Spending variance will be equal to -729

Explanation:

We have given wages and salary is $2060 per month plus $442 per birth

We have given total number of birth = 117

So standard cost = $2060+117×$442 = $53774

Actual wages and salary for the month is = $54500

We have to find the spending variance

Spending variance is given by

Spending variance = Standard cost - actual cost = $53774 - $54500 = -729

So spending variance will be equal to -729

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Answer:

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What does phelps need to do if he wants to play a similar transformative role in the marketing and sponsoring of swimming as mic
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3 years ago
hare Issuances for Cash Chase, Inc., issued 10,000 shares of $20 par value preferred stock at $50 per share and 8,000 shares of
IRISSAK [1]

Answer:

a. Prepare the journal entries to record the share issuances.

  • Dr Cash 500,000
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  •     Cr Additional paid in capital - preferred stocks 300,000

  • Dr Cash 160,000
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b. Prepare the journal entry for the issuance of the common stock assuming that it had a stated value of $10 per share.

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8 0
3 years ago
On the basis of the following data, determine the value of the inventory at the lower of cost or market.
vlabodo [156]

Answer:

The computation is shown below:

Explanation:

The computation is shown below:

Product         Total Cost         Total Market      Lower of Total Cost or Total Market

A                    $1,368                  $1,248                         $1,248

                ($171 × 8 units)          ($156 × 8 units)

B                  $10,300                    $9,150                     $9,150

                 ($206 × 50 units)          ($183 × 50 units)

C                $11,454                      $10,856                   $10,856

                  ($249 ×  46 units)          ($236 × 46 units)

D                 $5,530                      $4,795                     4,795

                 ($158 × 35 units)          ($137 × 35 units)

E                $9,452                        $10,064                   $9,452

                  ($278 × 34 units)          ($296 × 34 units)

Total                                                                              $35,501

3 0
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