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Anni [7]
3 years ago
11

Are all warranty costs accounted for under the accrual basis of​ accounting? explain.

Business
1 answer:
stich3 [128]3 years ago
8 0

All warranty costs accounted for under the accrual basis of accounting go under this section unless the repair cost does not have reasonable estimation. If the repair cost does not have reasonable estimation, it goes under the cash basis for accounting. The accrual basis method of accounting is when you record transactions for revenue when earned and expenses as they are incurred.

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Nicole knows her restaurant is understaffed today. She is hoping to get through the day without falling below her customers' ___
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Answer:

D) zone of tolerance.

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Zone of tolerance: It defined as the service acceptance level of the customer beyond which the customer does not tolerate the service. it is an area between desired service and acceptable service, the acceptable service is the standard service in the market, which is made by advertisements and other communication sources.

In the given case, Nicole is able to deliver the acceptable service to the customer instead of being understaffed as she knows customer´s "zone of tolerance" before going elsewhere.

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16. The process of selling goods and services to a customer to earn a profit is called;
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The process of selling goods and services to a customer to earn a profit is called the marketing concept.

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2 years ago
The two components of the direct labor flexible budget variance are the direct labor price variance and the direct labor quantit
Zepler [3.9K]

The two components of the direct labour flexible budget variance are the direct labour price variance and the direct labour quantity variance.

<h3>What is direct labour flexible budget?</h3>

To determine how many work hours will be required to create the items listed in the production budget, the direct labour budget is used. The overall number of hours required will be determined by a more intricate direct labour budget, which will also divide this data down by labour type.

Direct labour price variance - The cost of the discrepancy between the expected and actual labour rates is measured by direct labour rate variance. The variance will be deemed unfavourable if it shows that actual labour rates were higher than anticipated labour rates.

Direct labour quantity variance - The cost of the discrepancy between the anticipated number of labour hours needed for the operations and the actual number of labour hours needed for the operations is known as the direct labour efficiency variance.

The labour quantity variance is calculated as-

  • The labour price variation is calculated by multiplying the actual hours worked by the actual paid rate, which is then subtracted from the standard budgeted rate.
  • The standard rate is multiplied by the difference between the standard hours budgeted and the actual worked hours budgeted to determine the labour quantity variance.

To know more about the flexible-budget variance measures, here

brainly.com/question/24013612

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2 years ago
The direct exchange of goods and services for other goods and services is known as
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It is known as Barter
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