The answer is 20%, 40 is 1/5 of 200, therefore it is 20%
To economist, the social cost of union depends primarily on the people. People do not start their lives with fully developed theories about systems of society where unions are formed to fight for socialism. This organize monopolies to break down competition.
Answer:
Beginning RE 708,900
prior period adjustment <u> 89,470 </u>
adjusted beginning RE 798,370
net income 1,663,000
cash dividends <u> (77,800) </u>
ending RE 2,383,570
Explanation:
The amend of the mistake is done to adjust the beginning retained earnings as it didn't occur in the current accounting cycle.
We have to added as it was posted as an expense something it wasnt Thus, our expense were overstated making a lower net income
then, we proceed normally by adding the net income and decreasing the cash dividends paid to arrive to ending RE
Answer:
Results are below.
Explanation:
<u>To calculate the direct material price 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= (1.96 - 1.92)*87,500
Direct material price variance= $3,500 favorable
Actual cost= 168,000 / 87,500 = $1.92
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (3,500*24 - 87,500)*1.96
Direct material quantity variance= $6,860 unfavorable
