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3 years ago

6

A business has a key person insurance policy. Who or what would be the beneficiary of the policy ? A. The children of the key pe

rson B. The business
C. The key person D. The investors in the business

2 answers:

solniwko [45]3 years ago

8 0

Answer:

The business

Explanation:

Masja [62]3 years ago

6 0

Answer: the business

Explanation:

A P E X

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Answer:

7.68%

Explanation:

Data provided in the question

Present value = $1,891

Future value or Face value = $2,000

PMT = 2,000 × 7.1% ÷ 2 = $71

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The formula is shown below:

= Rate(NPER;PMT;-PV;FV;type)

The present value come in negative

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Answer: what is the question being asked?

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The Assembly Department produced 1,000 units of product during March. Each unit required 1.25 standard direct labor hours. There

frutty [35]

Answer:

Debit Work in process for $15,625

Debit Direct labor time variance for $625

Credit Direct labor rate variance for $650

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Explanation:

Before preparing the journal, the following calculations are done first:

Wage payable = Actual hours * Actual rate per hour = 1,300 * $12 = $15,600

Direct labor time variance = (Actual hours - Standard hours) * Standard direct labor rate = (1,300 - (1,000 * 1.25)) * $12.50 = $625 Unfavorable

Note: Direct labor time variance is Unfavorable because Actual hours is greater than Standard hours.

Direct labor rate variance = (Actual rate - Standard rate) * Actual hours = ($12 - $12.50) * 1,300 = -$650 Favorable

Note: Direct labor rate variance if Favorable because Actual rate is lower than the Standard rate.

Work in process = Wage payable + Absolute value of direct labor rate variance - Direct labor time variance = $15,600 + $650 - $625 = $15,625

The journal entries will now look as follows:

<u>Date Particulars Debit ($) Credit ($) </u>

Mar. 31 Work in process 15,625

Direct labor time variance 625

Direct labor rate variance 650

Wage payable 15,600

<u><em> (To record the direct labor in the Assembly Department.) </em></u>

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Production possiblity curve is a graphical representation of the maximum number of products that a company can produce, if it produce only two product using all the resources efficiently. The maximum production possiblity of one product is shown on one side graph and another product on other side to compare which product can be produced to reduce cost and wastage while maximizing the profit. This also help the management to know the effecient use of resources or factor of production; Land, labour, capital and entrepreneurship. Therefore, lack of resources to Cuba have lead it´s economy to decline.

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All the best.

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