Incurring actual indirect factory wages in excess of budgeted amounts for actual production results in a controllable variance. Therefore, the option B holds true.
<h3>What is the significance of controllable variance?</h3>
Controllable variance can be referred to or considered as a variance that computes the difference between the actual quantity and the budgeted quantity sold or consumed by a firm in an economy. It can never be deficit, and is always in surplus of the budgeted amounts.
Therefore, the option B holds true and states regarding the significance of controllable variance.
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The question seems to be incomplete. It has been added below for better reference.
Incurring actual indirect factory wages in excess of budgeted amounts for actual production results in a:
a. quantity variance
b. controllable variance
c. volume variance
d. rate variance
Answer:
b. the principle of rights.
Explanation:
Principle of rights in business considers if actions are ethical and how it will affect other's rights.
Principle of rights is a concept postulated by Immanuel Kant, and it is of the view that citizens trust the government to create favorable laws for their citizens. Government will not breach trust by drafting laws that will violate freedom of rights of the citizens.
The right intentions must be present when making decisions that affect people and their interest should not be violated.
Glenda believes everyone has fundamental human rights, and is practicing principle of rights.
Answer:
$208,000
Explanation:
Calculation for fixed overhead applied
Using this formula
Fixed overhead applied =Budgeted Fixed overhead+Fixed overhead volume variance
Let plug in the formula
Fixed overhead applied =$200,000+$8,000
Fixed overhead applied=$208,000
Therefore Fixed overhead applied must be $208,000
Answer:
Bad debt expense 6,500 debit
Allowance for uncollectible account 6,500 credit
Explanation:
"determined that there should be an allowance for uncollectible accounts of $5,150 at December 31, 2022."
We need to recognize as much bad debt as it need to leave the allowance balance on our expected uncollectible account.
balance for allowance before adjsutment:
beginning - write-off = unadjusted allowance
1,250 - 2,600 = -1,350
expected balance - unadjusted balance = adjustment
5,150 - (-1,350) = 6,500
Bad debt expense 6,500 debit
Allowance for uncollectible account 6,500 credit
A change in depreciation method is treated as a change in estimate that is achieved by a change in accounting principle, and is accounted for prospectively in the current and future periods.
The rules and regulations that businesses and other organizations must abide by when reporting financial data are known as accounting principles. These regulations standardize the terminology and procedures that accountants must employ, making it simpler to analyze financial data.
A unified set of accounting guidelines, methods, and standards known as generally accepted accounting principles (GAAP) were released by the Financial Accounting Standards Board (FASB).
The consistency that accounting principles establish enables more accurate and effective viewing of financial statements and reporting for businesses.
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