Answer:
The variance is: $ 0.50 per direct labor hour.
Explanation:
Actual payroll = $117,000/6000h = $19.50 per hour
So, if we compare this value with the standard rate of pay ($20 per direct labor hour) The variance is: $20.00 - $ 19.50 = $0.50 per hour
Answer:
January Overheads are <u>under-applied</u> by $2,000.
Explanation:
When,
Actual overheads > Applied overheads we say overheads are under-applied.
Actual overheads < Applied overheads we say overheads are over-applied.
Where,
Applied overheads = Predetermined overhead rate × Actual Activity
Therefore,
Applied overheads (January) = 120% × $40,000
= $48,000
Actual overheads (January) = $50,000.
Conclusion
It can be seen that from the above : Actual overheads : $50,000 > Applied overhead : $48,000, therefore overheads were under-applied.
Amount of under-applied overheads = $50,000 - $48,000
= $2,000
Answer:
Fiduciary
Explanation:
A fiduciary is a person that is appointed to protect the interests of his principal.
He should ensure that all transactions favor his principal maximally. It also entails full disclosure.
In this case, Mark was going to be the beneficiary of the sale. Even if the site was sold at fair market value, Mark has responsibility to fully disclose the source of the transaction to Anna.
Conflict of duty is when the fiduciary benefits from his position. This is not allowed.
Answer: operating budget
Explanation:
In the given scenario in the question, we can deduce that the management is in the process of planning the operating budget of the company.
The operating budget simply refers to the money that's needed by the company for it to run efficiently. It is made up of the manufacturing costs, sales budget, selling expenses, and the administrative expenses.
