A bulk gaining industry is one where the product gains weight or volume through the production process (the whole is greater than the sum of the parts). Due to logistical and transportation costs it is advantageous to produce bulk-gaining materials closer to where they are sold. This is why foreign car companies (Toyota, mazda, etc) have US-based production plants to save on these costs.
Rates for corporate outings is NOT an example of an FPRA rate
Explanation:
The FPRA is an agreement between an entrepreneur and a governmental agency in which some indirect charges are determined over a set period of time. All such rates are price forecasts used for cost agreements and contract changes.
By using an FPRA the contracting system can be accelerated by removing the need for audit and analysis of rates. The Contracting Officer (COO) oversees the prices of the contracting party. The ACO should always be asked any questions about the prices. After a FPRA is reached, a copies of the agreement should always be provided for in any ensuing proposal.
Answer:
$171 Favorable
Explanation:
Actual Variable Overhead Rate = Actual variable overhead cost / Actual direct labor-hours used
Actual Variable Overhead Rate = $9,531 / 2,310
Actual Variable Overhead Rate = $4.125974
Variable overhead rate variance = (Standard rate - Actual rate) * Actual Direct labor hours
Variable overhead rate variance = ($4.20 - $4.125974) * 2310
Variable overhead rate variance = $0.074026 * 2310
Variable overhead rate variance = $171 Favorable
Answer:
a.
Cash 27000 Dr
Common Stock 13500 Cr
Paid in capital in excess of par-Common stock 13500 Cr
b.
Cash 135000 Dr
Preferred Stock 135000 Cr
Explanation:
a.
When we issue stock at premium, we always record the amount received from such issuance of stock at full. So, the cash account will be debited for 4500 * 6 = 27000
However, we record the common stock issued at par value and the remaining is credited under the reserve account which is Paid in capital in excess of par.
Thus the common stock will be credited by its par value of 4500 * 3 = 13500 and the remaining 4500 * 3 will be credited to the Paid in Capital account.
b.
The par value of the preferred stock is 4500 * 30 = 135000
Thus the preferred stock is issued at par and we simply debit the cash received from the issue and credit the preferred stock.
An example of Private land use control is illustrated in a Subdivision regulations that is imposed by developers in an effort to maintain control of the development of the subdivision.
<h3>What is a
Private land use control?</h3>
This refers to a land control with a deed restrictions that limits what can be done on the property by the owner.
Hence, Private land use control is illustrated in a Subdivision regulations that is imposed by developers in an effort to maintain control of the development of the subdivision.
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