Answer:
The controllable variance for the month was $1,709 unfavorable
Explanation:
Controllable variance: The controllable variance show a difference between actual overhead expenses incurred and budgeting operating level based on direct labor hour.
In mathematically,
Controllable variance = Actual overhead expenses - budgeting operating level based on direct labor hour
where,
Actual overhead expenses = $11,227
And, budgeted operating level based on direct labor hour
= budgeted operating level × direct labor per hour
= 6,160 × $2.10
= $12,936
Now, put these values on the above formula:
So,
Controllable variance = $11,227 - $12,936 = $1,709 unfavorable
Hence, the controllable variance for the month was $1,709 unfavorable
Answer:
This statement describes. c) revenue recognition
Explanation:
The revenue recognition principle states that one should only record revenue when it has been earned, not when the related cash is collected.
Answer:
Option E is correct.
All of the above
Explanation:
This is an example of political risk since The current political party in Maharashtra-Shiv sena intervened and used Enron for its selfish interests. When US department of energy issued a statement that cancelling Enron could endanger other private FDI from USA, the same was again used to further its selfish interests. Finally Maharashtra renegotiated its contract with Enron.
Answer:
A. A claim by the employee will probably be based on promissory estoppel
Explanation:
Promissory estoppel doctrine refers to trying to enforce a promise. In other words, a person that makes a promise is responsible for performing it as long as:
- the promissor made a promise and the promisee acted because of it
- the promisee relied on the promise
- the promisee suffers a loss due to the unfulfilled promise
Answer:
Cash Flow from Operating Activities
Net Income $226,500
Decrease in Accounts Receivable $78,500
Increase in Prepaid Expenses -$28,200
Increase in Inventories -$41,700
Cash Provided by Operating Activities $235,100
