Answer:
D. Incomplete
Explanation:
The information supplied by the furniture manufacturing can be described as incomplete because it fails to state how big or how small the wooden logs should be to serve the purpose of what it is wants to be used for. It only states the kind of quality that the wood should be and that it should be of the same size.
Answer:
$91 favorable
Explanation:
Variable overhead rate variance = (Standard variable overhead rate - Actual variable overhead rate) * Actual hour worked
Therefore, we have:
Variable overhead rate variance = ($8.00 - $7.90) * 910 = $91 favorable
Note: the variable overhead rate variance is said to be favorable becasue standard variable overhead rate is geater than the actual variable overhead rate.
Answer:
The correct answer is B
Explanation:
Economic profit is the difference among the revenue received from the sale of the output and the cost of all inputs used and opportunity cost.
Zero economic profit, it is the situation where the firm is earning the same if its resources were employed in the next alternative which is best.
When the entry barriers in the market are low, then the firm will have the tendency of having a zero economic profit in the period of long run, as the profit which is short run will attract the extra suppliers which will result in down in the market price of the product.
To solve:
Adjusted cash balance = (Cash balance + deposits in transit) - outstanding checks
Cash balance = $7,291
Deposits in transit = $1,350
Outstanding checks = $762
Adjusted cash balance = ($7,291 + $1,350) - $762
Adjusted cash balance = $8,641 - $762
Adjusted cash balance = $7,879
Answer: Revenue Recognition
Explanation:
From the given text/information/scenario , we can state that the answer to the following question is revenue recognized. Revenue recognition is referred to as or known as the accounting principle that tends to outline certain specific conditions and circumstances under which the revenue is recognized.