Answer and Explanation:
The computation of the direct labor efficiency variance is shown below;
= Standard Rate × (Standard Hours - Actual Hours)
= $22.50 × (4,760 Units × 2 hours per unit - 8,900)
= $13,950 Favourable
Hence, the direct labor efficiency variance is $13,950 favorable
We simply applied the above formula so that the correct amount could come
Answer:
2 years and 6 months
Explanation:
after 6months
$1,000 x 10% = $100
$1,000 + $100 = $1,100
after 1 year
$1,100 x 10% = $110
$1,100 + $110 = $1,210
after 1 year and 6 months
$1,210 x 10% = $121
$1,210 + $121 = $1,331
after 2 years
$1,331 x 10% = $133.10
$1,331 + $133.10 = $1,464.10
after 2 years and 6 months
$1,464.10 x 10% = $146.41
$1,464.10 + $146.41 = $1,610.51
Worried by falling stock prices and plunging sales, cigarette makers are lobbying hard to prevent the government from hiking excise duty for the third straight year.
Industry body, The Tobacco Institute of India in its budget submission to the finance ministry has requested the government to maintain the current duty on cigarettes and reduce duty on the smaller size sub-65 mm length filter to Rs 200 per thousand sticks from Rs 669 per thousand cigarettes to allow the industry
Best practice Performance Based Logistics contracts often use some combination of "carrots and sticks" strategies that are tightly aligned, promoting behaviors and outcomes that benefit both customer and supplier -- -True
What are performance based logistics contracts?
Performance-Based Logistics (PBL) contracts provide services or sup- port where the provider is held to customer-oriented performance requirements. These contracts are not necessarily designed to save money, but rather to maintain or improve current system or platform performance in a cost constrained world.
How long are PBL contracts?
3 to 5 years
Effective PBL contracts are typically multi-year contracts (i.e., 3 to 5 years with additional option or award term years), with high confidence level for exercising options/award term years.
What is a product support arrangement?
The term “product support arrangement” means a contract, task order, or any type of other contractual arrangement, or any type of agreement or non-contractual arrangement within the Federal Government, for the performance of sustain ment or logistics support required for major weapon systems, subsystems, or components ...
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Answer:
a. Recording of transactions:
May 7, Accounts Receivable (Dr.) $900
Sales Revenue (Cr.) $900
May 15, Customer service Expense (Dr.) $360
Sales Allowance (Cr.) $360
May 20, Cash (Dr.) $495
Cash Discount (Dr.) $45
Sales Allowance (Dr.) $360
Accounts receivable (Cr.) $900
Explanation:
b. Net Sales :
Total Quote ($180 * 5 ) = $900
Less : Cash Discount 5% = 45
Less : Sales Allowance 40% = 360
Net Sales = $495
c. Outdoor expo will record sales after deducting the cash discount. This discount is availed by customer as repayment is made within 15 days. The sales allowance is subtracted from the gross sales as the compensation is made from the outdoor expo due to mistake from their guide on tour. The net sales reported in Income statement will be $495.
