Answer:
See below
Explanation:
Given the above, we will calculate first the standard hours allowed for actual work using the formula below
Standard hours allowed for actual work
= Total number of applications × Number of standard
= 2.500 × 8 hours × 10
= 2,000 hours
Therefore, the labor efficiency variance
= (Actual hours worked - Standard hours allowed for actual work) × Standard rate
= (1,920 - 2,000 ) × $15
= -$1,200
The labor efficiency variance is $1,200 favorable
The Federal Reserve System, regularly alluded to as the Federal Reserve or essentially "the Fed," is the national bank of the United States. It was made by the Congress to give the country a more secure, more adaptable, and more steady money related and monetary framework.
Answer:
Explanation:
The statement of stockholder's equity comprises common stock and retained earnings. The ending balance after adjustment shown in the attached spreadsheet.
And, the balance sheet comprises of the assets and liabilities. With the help of the accounting equation, the total assets are equal to the total liabilities including stockholder's equity.
The preparation of the statement of stockholders’ equity and the balance sheet is presented in the spreadsheet. Kindly find the attachment below:
Answer:
The Journal entries are as follows:
(a)
Bad Debt Expense A/c Dr. $440
To Allowance for Doubtful Accounts $440
(To record the bad debts)
Workings:
Bad Debt Expense = 1% of Total revenue
= 0.01 × $44,000
= $440
(b)
Bad Debt Expense A/c Dr. $439.34
To Allowance for Doubtful Accounts $439.34
(To record the bad debts)
Workings:
Bad Debt Expense = 2% of accounts receivable
= 0.02 × $21,967
= $439.34
Answer:
The right answer is, False.
Explanation:
Nowadays companies seek to improve the attitudes, knowledge and skills of their employees, through training activities so that everyone works synergistically in achieving the objectives of organizations.
