There are three main sources of income of the the government :
1) individual income tax
2) corporate income tax
3) payroll tax
Answer: The actual cost of materials was less than the standard cost
Explanation:
Net materials cost variance = Favorable materials price variance + Favorable materials quantity variance
= 380 + (-120 unfavorable)
= 380 - 120
= $260 favorable
<em>As the materials cost variance is favorable, it means that the actual cost of materials was less than what was budgeted for it or rather its standard cost. </em>
Answer:
Material EUP = 5000
Conversion Costs EUP = 51,200
Explanation:
Under weighted average method
Beginning Work in Process Inventory 10,000
Units Started <u> = 40,000</u>
Units to account for <u>50,000</u>
<em><u>In the Work In Process for Conversion Costs</u></em>
Beginning Work In Process (10,000*20 %) = 2000 were complete
Work done on beginning inventory = 10,000- 2,000= 8,000
Units Started = 40,000
Add Ending Inventory (8000*40%) <u> 3200</u>
Units to account for = <u>51,200</u>
Answer:
Justify your recommendation. From the BCG Matrix we can tell that Electrical appliances unit is a Cash Cow with high market share and stable growth.
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Explanation:
Answer:
Dr. Investments in Associates 250,000
Cr. Cash 500,000
Dr. Cash 10,000
Cr. Investments in Associates 10,000
Dr. Investments in Associates 50,000
Cr. Investment revenue 50,000
Explanation:
The equity method is a type of accounting used to incorporate investments. It is used when the investor holds significant influence over the investee but does not exercise full control over it.
An investor is deemed to have significant influence over an investee if it owns between 20% to 50% of the investee’s shares or voting rights.
- Jolley receives dividends of $10,000, which is 25% of $40,000, and records a reduction in their investment account. The reason for this is that they have received money from their investee.
- Jolley records the net income from Tige Co. as an increase to its Investment account.
