Answer:
1. $10
2. The fixed overhead budget variance and volume variance is $4,000 unfavorable and $10,000 favorable respectively
Explanation:
1. The computation of the predetermined overhead rate for the year is shown below:
Predetermined overhead rate = (Total estimated budgeting fixed manufacturing overhead) ÷ (estimated direct labor-hours)
= $250,000 ÷ 25,000 hours
= $10
2. The computation of the fixed overhead budget variance and volume variance is shown below:
Fixed overhead budget variance = Actual fixed overhead cost for the year - Total budgeted fixed overhead cost for the year
= $254,000 - $250,000
= $4,000 unfavorable
Volume variance = (Budgeted direct labor hours - standard direct labor hours) × predetermined overhead rate
= (25,000 hours - 26,000 hours) × $10
= $10,000 favorable
Answer:
$8058
Explanation:
10/20/5 stands for a series of discount rates applicable on the list price. It means on total amount, 10% discount is allowed, then post deduction of this 10%, a further 20% on the balance is allowed and then a further 5% is allowed on the balance.
In the given case, single equivalent discount would be calculated as follows,
$25,500 × 10% = $2550
Then, ($25,500 - 2550) × 20%= $4590
Then, ($25,500 - 2550 - 4590) × 5% = $918
Single equivalent discount amount = $2550 + 4590 + 918 = $8058
Answer: C no self review is never an acceptable quality review method
Explanation: Self review is not acceptable standard, a designated quality reviewer should be there to review the tax return prepared or peer review should be done, this is when volunteers review each another tax return prepared.
The answer would be: Having good interpersonal skills