Answer:
C. Ted & Fred
Explanation:
Ted and Fred are in a partnership form of business ownership. According to the law of partnership, partners should share profits and losses equality unless specified otherwise in a partnership deed. In this scenario, Ted and Fred will share the loss equally or in the manner stated in their partnership agreement.
Lawrence is an employee. He does not share in the profits and losses of the business. Lawrence provides labor services to the partnership for which he earns a constant salary.
The trial balance would disagree. It seems that the cash should be credited instead as the situation seems to me that the cash is being expended to pay for the equipment, and the remaining 3500 is liabilities. Therefore, the error should be corrected.
Answer:
B. $9
Explanation:
Based on the scenario being described within the question it can be said that the standard labor rate for the product in dollars per hour is that of $9. This can be calculated using by subtracting the labor rate variance from the actual cost, and then dividing that amount by the actual-direct labor hours as so...
$338,400 - 14,400 = 324,000
AH X SR = 324,000/36,000 = $9
Making the total dollars per hour $9
Answer:
A.You should go home and watch TV.
Explanation:
You should go home and watch TV because it is the activity that represents the highest value of the three.
It means that it is also the activity that has the lowest opportunity cost among the three, because any other alternative is less valuable to you.
