Answer:
Direct material quantity variance= $2,170 unfavorable
Explanation:
<u>To calculate the direct material quantity variance, we need to use the following formula:</u>
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (2*5,000 - 10,310)*7
Direct material quantity variance= $2,170 unfavorable
Since you didn't give any methods to choose from, I will post several that can help a person recover their stolen goods. Contacting the police is the best way to recover your goods. A person should always write down serial numbers of their items such as electronics, guns, etc. The police should document and recover any physical evidence left at the crime scene. If you have jewelry in your home, you should always have a picture of all the jewelry to aid in the recovery. <span />
Answer:
The journal entries to record this transaction would include: E. a credit to Sales Revenue for $45,000.
Explanation:
When Morgan Manufacturing sold goods, the company should make two journal entry to record Cost of goods sold and Sales revenue.
The entries:
1. Debit Cost of goods sold $35,000
Credit Finished-Goods Inventory $35,000
2. Debit Cash $45,000
Credit Sales revenue $45,000
The journal entries to record this transaction would include: E. a credit to Sales Revenue for $45,000.
Answer: b). Scarcity
Explanation:
Scarcity refers to the relative shortage of resources in comparison to human wants.
Non-renewable resources refer to the resources which do not renew itself at a sustainable rate and have the risk of depletion. In addition to this, human wants are unlimited, a normal human being wants more and more of everything.
When non-renewable resources and unlimited wants are combined together they lead to the shortage of resources, which lead to its <em>scarcity</em>.
Answer:
Paying higher wages boost up employees to be more productive, as higher wages is considered as a source of motivation to the employees and they will improve their level of work and complete their task in an effective and efficient manner which leads to productivity at workplace. Hence, this automatically leads to timely completion of work at almost zero cost.
The reasons why some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labor are as follows:
- Paying higher wages helps workers to be healthier in some developing countries.
- Higher wages attract a more competent pool of workers.
- Paying higher wages encourages workers to be more productive.
