Answer:
Total overhead cost variance $
Standard fixed overhead cost ($9 x 45,100 hrs) 405,900
Less: Actual fixed overhead cost <u>411,000 </u>
Total overhead cost variance <u> 5,100 (A)</u>
Explanation:
Total overhead variance is the difference between standard fixed overhead cost and actual fixed overhead cost. Standard fixed overhead cost is overhead rate multiplied by actual direct labour hours. Overhead rate is the total of variable overhead and fixed overhead rate ($8 + $1 = $9).
Risk that exists both before and after controls have been put in place is known as inherent risk.
What is risk?
The term "risk" refers to degree of unfortunately and possibility of loss, injury and hazard. Risk is barrier in the organization.
The various risk levels in a process that have not been regulated or mitigated by risk management are referred to as inherent risk. The level of risk present even in the absence of safeguards is known as inherent risk.
As a result, Inherent risk is risk in the absence of controls and after controls have been implemented.
Learn more about on risk, here:
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Answer:
An increase in total liabilities and a decrease in stockholders' equity
Explanation:
When a dividend is declared but not ye paid, it is credited as current liability because it has increased the company liability while retained earnings is being Debited because of the profit distribution.
When it is eventually paid, cash account is credited while dividend liability account is debited.
Answer:
A) All of the contacts described provide sufficient contacts for in personam jurisdiction.
- c. The Michigan defendant got into an automobile accident in Ohio.
- d. The Michigan defendant signed a contract in Ohio with an Ohio business.
- e. The Michigan defendant sold products in the state of Ohio that injured the purchasers.
Explanation:
In legal terms, in personam (Latin for "directed toward a particular person") means that a court can serve a defendant wherever he/she is.
In this case, a Michigan citizen can be judged in an Ohio court if he/she committed any of the cited actions:
- participated in a car accident in Ohio
- signed a contract in Ohio
- sold products in Ohio
In other words, if you live in any state but are involved in certain events or business transactions in another state, you can be judged by a court of the other state.
