Answer:
Standard fixed overhead rate
= Budgeted fixed overhead cost
Budgeted direct labour hours
= $45,000
15,000 hours
= $3 per direct labour hour
Fixed overhead volume variance
= (Standard hours - Budgeted hours) x Standard fixed overhead rate
= (12,000 hours - 15,000 hours) x $3
= $9,000(U)
The correct answer is B
Explanation:
In this case, we need to calculate standard fixed overhead rate, which is budgeted fixed overhead cost divided by budgeted direct labour hours. Then, we will calculate fixed overhead volume variance, which is the difference between standard hours and budgeted hours multiplied by standard fixed overhead rate.
Answer:
$100
Explanation:
Insurance coverage is the sum of expenses paid and the premium paid on these expenses.Total coverage is the calculated by adding the premium and expense. In this question premium is the $75 and the expense ratio is 25%.
As we know
Coverage = Premium + Expense
Coverage = 75% + 25%
So, based on above equation we can calculated the expense as follow
Expense = $75 x 25% / 75% = $25
Coverage = $75 + $25 = $1,00
Answer:
Petty cash refers to a certain amount, which is kept by the company to spend it on small items related to the business.
Explanation:
The Journal entry is given below:
Answer:
Demand in developing countries is lower and so the price is set lower to match the capacity to pay (such as pharmaceuticals). Locally produced goods, especially the outputs of primary production are generally inexpensive and often will be cheaper in developing countries e.g. bananas.
