Answer:
$17.50
Explanation:
Given that,
Direct labor hours = 7,000
Standard cost = $20 per hour
Direct Labor Rate Variance = $17,500 Favorable
(Standard Rate - Actual Rate) × Actual Hours = $17,500 Favorable
(20 - Actual Rate) × 7,000 = $17,500 Favorable
140,000 - 7,000 Actual Rate = $17,500 Favorable
Therefore,
7,000 Actual rate = (140,000 - $17,500)
Actual rate = 122,500 ÷ 7,000
= $17.50
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Answer:A
Explanation:
A regressive tax is a tax impose in such a manner that the tax rate decreases as the amount subject to taxation increases.
Answer:
The correct option is a) Gross profit and ending inventory.
Explanation:
The inventory technique is a method of accounting for calculating the value of an inventory. The approach calculates the ending inventory balance by comparing the inventory cost to the merchandise price.
There are three methods for valuing inventory whic are FIFO (First In, First Out), LIFO (Last In, First Out), and WAC (Weighted Average Cost) (Weighted Average Cost). The gross profit and ending inventory are affected differently by each of these costing methods.
This implies that the selected inventory costing method impacts gross profit and ending inventory.
Therefore, the correct option is a) Gross profit and ending inventory.
Answer:
A. $840,000
B. Discount
C. Annual interest expense on these bonds will be more than the amount of interest paid each year.
Explanation:
Data
Bonds issued = $21,000,000
Coupin rate = 4.0%
Market Interest rate = 4.46%
Requirement A: Annual interest amount
Interest amount = Bonds issued x coupon rate
Interest amount = $21,000,000 x 4.0%
Interest amount = $840,000
Requirement B: Whether it is Premium or Discount?
Bonds that Atom Endeavour Co. issued are discount as you can clearly see in the data that the market rate is higher than the coupon rate. Investors who will buy these bonds surely expect a capital gain.
Requirement C:
The discount on the issue of bonds is amortized to interest expense over the life of the bond, therefore the interest expense on these bonds will be more than the amount of interest paid each year,
