Explanation:
Growth overfishing occurs when fish are harvested at an average size that is smaller than the size that would produce the maximum yield per recruit.
Answer:
a. Determine the standard cost per unit for direct materials and direct labor.
standard direct labor rate = $20 x 30/60 minutes = $10 per faucet
standard direct materials rate = $1.80 x 2.5 lbs = $4.50 per faucet
b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.
direct materials price variance = (actual price x actual quantity) - (standard price x actual quantity) = ($1.95 x 13,000) - ($1.80 x 12,500) = $25,350 - $22,500 = $2,850 UNFAVORABLE
direct materials quantity variance = (standard price x actual quantity) -(standard price x standard quantity) = ($1.80 x 13,000) - ($1.80 x 12,500) = $23,400 - $22,500 = $900 UNFAVORABLE
total direct materials variance = direct materials price variance + direct materials quantity variance = $2,850 + $900 = $3,750 UNFAVORABLE
Answer:
Aug 1
Dr Cash $12,750
Dr Photography equipment $54,825
Cr Common stock $67,575
Aug 2
Dr Prepaid insurance $3,500
Cr Cash $3,500
Aug 5
Dr Office supplies $2,423
Cr Cash $2,423
Aug 20
Dr Cash $2,050
Cr Photography fees earned $2,050
Aug 31
Dr Utilities Expense $868
Cr Cash $868
Explanation:
Preparation of general journal entries for the above transactions
Aug 1
Dr Cash $12,750
Dr Photography equipment $54,825
Cr Common stock $67,575
($12,750+$54,825)
Aug 2
Dr Prepaid insurance $3,500
Cr Cash $3,500
Aug 5
Dr Office supplies $2,423
Cr Cash $2,423
Aug 20
Dr Cash $2,050
Cr Photography fees earned $2,050
Aug 31
Dr Utilities Expense $868
Cr Cash $868
Mike brought 100 shares costing $53 each.
Total costs of shares= 100*53
=$5300
He got dividends of $1.45 per share. A dividend is money that is earnt back from a share.
Total dividend amount = 1.45*100
=$145
I'm assuming that Mike sold his shares at the end of the year. He sells for $60 each.
Total sales amount=60*100
=$6000
The rate of return in this instance can be defined as the amount of money made back from a share.
Rate of return= total earnings/ costs
Total costs= $5300
Total earnings=$6145
6145/5300=1.1594
=15.9%
Hope this helps! :)
