Answer:
2. A result of recognizing revenues and expenses that arise from the same transaction.
Explanation:
Matching is a concept in accounting which favors the accrual accounting over cash basis of accounting.
It is a concept in which the cost incurred during the course of carrying out some activities that generate revenue is match to the revenue generated.
Hence Matching is a result of recognizing revenues and expenses that arise from the same transaction.
Answer:
$8,500 favorable
Explanation:
The computation of the fixed overhead spending variance is shown below
= Budgeted fixed overhead - actual fixed overhead
= $184,800 - $176,300
= $8,500 favorable
We simply deduct the actual fixed overhead from the budgeted one so that the fixed overhead spending variance could come
<span>he salesperson's ability to listen and speak convincingly during needs discovery</span>
Answer:
See below
Explanation:
We will first determine the overhead rate
= cost of manufacturing overhead / cost driver
We will distribute the cost driver which is machine hours
$159,000/32,000 = $4.97
$4.97 fixed + $3 = $8 predetermined overhead rate
We will now apply this to job machine hours
Job machine hours 30
Overhead: machine hours x
Predetermined rate = 30 × 8 = $240
Total cost $1,320 + $660 direct material + $240 overhead = $2,220
Then,
Unit cost = Total cost/ unit
= $2,220/10
= $222
Selling price
= cost + 40% cost
= $222 + $88.8
= $283.50
