Answer:
Penalty APR and When It Applies
Explanation:
A Schumer Box is a table that explains the costs of a credit card in the United States. It has sections like:
-Annual Percentage Rate (APR) for Purchases: It indicates the annual rate that you will be charged when you use the credit card to make a purchase.
-How to Avoid Paying Interest on Purchases: It indicates the specific situation in which you would be exempted from paying interest on a purchase.
-Penalty APR and When It Applies: It indicates the specific situations in which you would have to pay a higher interest rate as an infraction for things like making a late payment.
-Variable Rate and Balance Computation: It indicates how the interest rate can change and how the finance charge is calculated.
According to this, the answer is that the section of a Schumer Box that discusses what happens when a payment is late is Penalty APR and When It Applies.
When using absorption costing when production is greater than sales, a portion of fixed overhead is allocated to the products sold.
<h3>What happens when production is greater than sales?</h3>
- Because it allocates fixed overhead expenses to each unit of a product produced throughout the time, absorption costing differs from variable costing.
- Net income recorded under absorption costing will be higher than net income reported under variable costing when production exceeds sales. Closing stocks rise under absorption costs as output outpaces sales.
- When output exceeds the number of units sold, absorption costing allocates fixed overhead to the items sold, resulting in net income that is higher than that determined by variable costing.
- The operating income under absorption costing is higher when production outpaces sales, i.e. when final inventory exceeds beginning inventory.
To learn more about Absorption costing refer to:
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Answer:
$10,000 unfavorable
Explanation:
The computation of the total variable overhead variance is shown below:
Total variable overhead variance is
= (Actual variable overhead cost - (manufactured units × standard variable overhead rate × required standard direct labor hours))
= ($40,000 - (2,500 units × $4 × 3)]
= $40,000 - $30,000
= $10,000 unfavorable
Since actual cost is more than the standard cost so it would be unfavorable variance
Answer:
What is B. Organizational culture
Explanation:
Organizational culture is a pattern of shared basic assumptions that a group learns as it solves its problems of external adaptation and internal integration, and that has worked well enough to be considered valid and, therefore, is taught to new members as the correct way to perceive, think, and feel in relation to these problems.
This situation represents <u>progressive</u> type of tax system.
<u>Explanation</u>:
A progressive tax is laid on the people based on their ability to pay. A lower tax rate is charged for the individual with low income compared to the person with higher income. The tax rate is fixed based on the income of the person. The high income earners are charged tax with higher percentage.
In the above scenario, the income of Olaf is $100,000. So he pays $20,000 as tax. George earns $200,000, so he pays $48,000 as tax. George pays tax higher than Olaf, as he earns higher than Olaf.
