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Fantom [35]
3 years ago
14

Using the following data, develop an allowance percentage for a job element that requires the worker to lift a weight of 30 poun

ds while (1) standing in a slightly awkward position, (2) in light that is very inadequate standards, and (3) with intermittent very loud noises occurring. The monotony for this element is low. Include a personal allowance of 5 percent and a basic fatigue allowance of 4 percent of job time. (Leave no cells blank - be certain to enter "0" wherever required. Omit the "%" sign in your response.
Business
1 answer:
Volgvan3 years ago
7 0

Answer:

While estimating standard time of doing a job, some extra allowances are provided on the basis of nature of work. In this connection, different factors, like monotony, light, awkwardness, muscular force required etc. are taken into consideration. Calculation of this allowance is shown below:

  1. Personal allowance is a basic allowance. It has been allowed for all jobs. It is fixed at 5%
  2. Basic Fatigue allowance of 4% is also common. It is allowed in all jobs.
  3. Standing: 0% allowance is required for standing in a slightly awkward position and further it will increase on the basis of awkwardness.
  4. Lifting: Any work requiring muscular or force energy will be provided lifting allowance. It will vary on the basis of weight lifted. Here 25 lbs. weight has been lifted. Hence, 4% lifting allowance has been provided.
  5. Bad light: It is available only when light is well below the recommended level. Here light is slightly below the recommended level. Hence, 0% allowance is required for in light that is slightly below recommended standards.
  6. Noise level: A continuous noise is common in production activities. For intermittent loud noises occurring a 2% allowance is provided.
  7. Monotony: As the monotony for the element is low for this work. No extra allowance is required. 0% is required for low monotony.

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Match each of the following scenarios with the accounting principle or accounting assumption that it best illustrates.a. Several
Orlov [11]

Answer:

Key S - Scenario

      A - Accounting Principle or Assumption

S

Several years after Thomas Company purchased new office equipment, the company’s accounting records still show the original purchase price.

A

Historical cost principle

S

The home of Rob Elliot, the owner of GGE Enterprises Inc., is not listed among the company’s assets.

A

Business entity assumption

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Despite several years of falling sales, Thomas Company continues to forecast sales and make strategic plans to raise revenues and cut expenses.

A

Going concern assumption

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Thomas records expenses incurred to produce the sales for the month.

A

Expense recognition principle

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GGE Enterprises records a deposit received from a customer for work to be performed later in the month. The customer is billed for the remaining amount after the work is complete, and the customer’s payment is recorded.

A

Revenue recognition principle

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Thomas Company provides earnings information to investors at the end of every quarter.

A

Time period assumption

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The accounting records of Thomas Company are in dollars, not euros, although the Ohio-based company is owned by a German firm.

A

Monetary unit assumption

Explanation:

5 0
3 years ago
Joshua borrowed $500 on January 1, 2017, and paid $25 in interest. The bank charged him a service charge of $15. He paid it all
Elena-2011 [213]

Answer: 8%

Explanation:

The Annual Percentage Rate or APR for short is calculated by dividing the finance cost by the total amount borrowed in the following manner,

APR = Finance Charge / Amount borrowed.

To calculate the Finance charge we add the interest and the service charge.

Finance charge = 25 + 15

= $40

Back to the APR formula we will have,

APR = Finance Charge / Amount borrowed

APR = 40/500

= 0.08

APR is 8%.

3 0
3 years ago
The purchase and sale of long-term assets and current investments are classified as:
Sveta_85 [38]

ash transactions that encompass purchase as well as sale of long-term assets as well as current investments can be considered to classified as Investing activities.

  • Investing activities can be regarded as one of the categories of net cash activities which is been reported by business on the cash flow statement.

  • It is the purchase as well as sale of long-term assets at a given period.

Therefore, Investing activities is correct.

Learn more at:

brainly.com/question/13158188?referrer=searchResults

8 0
2 years ago
For federal tax purposes, which of the following is true regarding lump-sum life insurance benefits?
Lorico [155]

Based on the information given, it should be noted that all proceeds are income tax free in the year that they're received.

<h3>What is tax?</h3>

A tax simply means a compulsory levy that's paid by the people or companies to the government. It's important to achieve economic development.

For federal tax purposes regarding lump-sum life insurance benefits, it should be noted that all proceeds are income tax free in the year that they're received.

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7 0
2 years ago
A tax structured so that people with the same income pay the same percentage of their income in taxes is called a (an)__________
djyliett [7]

Answer:

c. progressive tax

Explanation:

Progressive tax can be regarded as one of the tax structure whereby the tax payer that receive higher incomes in the state pay a higher share of taxes from the income they made, which is different from those that receive Lower income. It is a tax system whereby when there is increase in tax rate then the taxable amount increases too. It should be noted that the tax structured where people with the same income pay the same percentage of their income in taxes is reffered to as progressive tax. wealth/property tax is one of the example of progressive tax.

4 0
3 years ago
Read 2 more answers
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