Answer:
The correct option is A:
cost of goods sold 10,750
merchandise inventory 10,750
Explanation:
When goods are bought for resale,the total cost of the goods bought is usually the invoice price paid as well as the cost of bringing in the goods i.e freight,hence the cost of the goods sold here is the invoice price of $10,000 plus the freight of $750,giving total cost of $10,750
When the goods are sold,merchandise inventory would be credited with $10,750 while cost of goods sold is debited with same amount.
The correct option is first one with cost of goods sold debited with $10.750 and merchandise inventory credited for $10,750
Answer:
(i) 95 (F)
(ii) 125 (F)
(iii) 220 (Overapplied)
Explanation:
Variable Overhead Rate Variance:
= Actual Hours × (Actual Rate - Standard Rate)
= 1,900 × ($1.20 - $1.25)
= 95 (F)
Variable Overhead Efficiency Variance:
= Standard Rate × (Actual Hours - Standard Hours)
= $1.25 × (1,900 - 1 × 2,000)
= 125 (F)
Over- or Underapplied Variable Overhead:
= Actual Overhead Incurred - Overhead Applied
= (1,900 × $1.20) - (2,000 × $1.25)
= 220 (Overapplied)
The lasting impact resulting from 20th-century banking reforms in the United States is "the reforms approved the Board to determine reserve requirements and interest rates for deposits at member bank."
The banking reforms made in the 20th century in the United States are many, and many of these reforms are still applicable today.
Some of the lasting effects of these reforms include the following:
The Board of Governors to determine the monetary policy.
The reforms established the Federal Deposit Insurance Corporation.
The reforms also separate commercial banks from investment banks.
Hence, in this case, it is concluded that the many banking reforms made in the 20th century still exist today.
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Answer:
Explanation:
Higher real interest rates reduces aggregate expenditure by increasing the cost of loans while increasing the earnings from savings. Both factors reduce expenditures by reducing consumption and investments, and therefore, aggregate expenditure.
