Answer:
Under Cash Basis all transactions for which cash is exchanged whether paid or received is accounted for.
Cash Basis Income Statement
Sales Revenue = $6,650
Customer Deposits = $4,550
Total Revenue = $11,200
Less: Expenses:
Wages = ($700)
Net Income = $10,500
Under Accrual basis, the transactions are recorded as to the period they relate, and it is not necessary to exchange cash for the same.
Accrual Basis Income Statement
Sales Revenue = $12,050
Total Revenue = $12,050
Expenses
Wages = ($700)
Utilities = ($330)
Total Expenses = ($1,030)
Net Income = $11,020
Answer:
D.
Explanation:
A rent ceiling is a government regulation that makes it illegal to charge a rent higher than a specified level. Meaning that the landlord of a building cannot charge a rent amount higher than the maximum price set forth by the rent ceiling. Landlords that violate this law are usually fined by the government as a consequence.
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Each unit requires 0.25 direct labor-hours and direct laborers are paid $14.00 per hour. In addition, the variable manufacturing overhead rate is $1.60 per direct labor-hour. The fixed manufacturing overhead is $95,000 per quarter.
Direct labor per unit= 0.25*14= $3.5
Direct labor equation= 3.5*x
x= units produced
For example:
100 units
Direct labor= 3.5*100= $350
Answer:
Disadvantages of a Line Organization
A line organization can suffer from a lack of specialization. This is because each department manager is concerned only with the activities of his own department. Therefore, employees are skilled in tasks pertaining to their departments alone.
These organizations can overburden a keyman or a few key-men to the extent of their breaking point. Also, in the absence of a staff aid, if a strong man seizes the organization, he can run it arbitrarily. Such arbitrary power can lead to a considerable damage to the organization.
Such organizations usually suffer from a lack of expert advice. If the line manager has trouble making a decision, there is no expert staff that he can turn to.
A line organization is usually rigid and inflexible. In fact, such organizations maintain discipline so rigorously that they can rarely change.
These organizations are based on the autocratic system of management.
The division of work is not based on any scientific plan but on the whims of the manager.
It might stop progress and prevent the unit to work effectively.
Such organizations might also encourage nepotism or favoritism based on relationship or friendship.
I hope this is helpful information.
I guess the correct answer is 3%
During a recent hurricane, 25 individuals of the same butterfly species were blown onto a barrier island in southern Florida. During the first year, 80 caterpillars hatched from eggs laid by the butterflies and only 5 individuals in the population died.
The growth rate for the population during this period is 3%.
