Answer:
See notes below
Explanation:
Rate variance
The rate variance is the the difference between the standard labor cost of the actual hours paid for and the actual cost.
<em>Possible reasons:</em>
An increase in wage rate
Skilled workers were as against using the unskilled workers planned for
Efficiency variance
Labour efficiency variance is the difference between the actual time taken to achieve a given production output less the standard hours allowed for same multiplied by the standard labour rate
<em>Possible reasons:</em>
The use of skilled workers who worked faster than the unskilled workers planed for
The workers were trained making them more efficient in saving time
Income before tax is the income that is before it has been taxed or before applying deduction.
<u>Explanation:</u>
An individual or organization's salary before taxes and deductions is before tax income for that company, organisation or for a single individual.
For singular pay, it is determined as the person's wages or pay, venture and resource gratefulness, and the sum produced using some other wellspring of pay. In an organization, it is determined as incomes less costs.
Answer:
Cross- functional team
Explanation:
Cross- functional team, is the team which is defined as the group of people who came together with the different functional expertise of working against the common goal.
This team may involve the people from human resources, finance, operations and marketing department.
It occurs when the specialist from different areas are put on the same team. So, in this case, XYZ bring together the specialist, which implies that the firm is creating the team of cross- function.
Complete question:
On January 1. Year 1. White Co. sold a property with a remaining useful life of 20 years to Blue Co. for $900.000. At the same time. White entered into a contract with Blue for the right to use the property (leaseback) for a period of 6 years. with annual rental payments of 580.000 that approximate the market rental payments for similar properties. On January 1. Year 1. the carrying amount of the property was 5680.000. and its fair value was 5770.000. A discount rate for the lease of 10% is used by both White and Blue. The present value factor for an ordinary annuity at 10% for 6 periods is 4.3553. The lease does not transfer the property to White at the end of the lease term and does not include a purchase option.
What amount of lease expense for the right of use of the property is recognised by White in Year 1 ?
A. $0
B. $130,000
C. $90,000
D. $220,000
Answer:
$90,000 amount of lease expense for the right of use of the property is recognised by White in Year 1
Explanation:
If the leaseback is known as an operating lease, the original transition to the buyer-lessor of the asset should be taken into account as the selling of an asset, given that all the income identification requirements have been fulfilled.
If the deal is of equal value, the lender lease is informed of the gain or loss of sale between the purchase price and the sum of the land that is held. Yet this is not a equal value trade. The property's sale price is higher than its market value. Accordingly, the income or loss on sale seems to be the difference between the equal worth and the value of the land.
Therefore, on 1 January, White records a benefit of $90,000 in revenue of $770,000 (fair value of $680,000 in carrying amounts)
Answer:
The correct answer is letter "C": an inventory system that is used to manage independent demand inventory.
Explanation:
A Periodic Review System is used to keep track of the inventory of a firm after determined periods. Review intervals are set by the company in an attempt to find out the amount of stock needed to fulfill consumers' orders or to reach the company's Target Inventory (TI). This inventory system is used to handle independent demand inventory.
