Answer:
1. $3.20 x 2.20 = $7.04
2. It will be favorable.
3. It will be unfavorable.
4. Direct material price variance = $22
Direct material quantity variance = 0.48
Explanation:
1. Standard direct cost per unit=cost of direct materials price x direct material standard quantity per unit.
2. It will be favorable because they expected or had budgeted to pay $3.60 per foot for the material but the actual cost became $3.20. So they pay $0.40 less than they had expected to pay.
3. It will be unfavorable because they had planed or budgeted for each unit to use 2.05 feet of leather but they ended up needing 2.20 feet of leather per collar so that means they under budgeted by 0.15 feet.
4. Direct material price variance =( $3.60 x 55) less ($3.20x55)=$22
The total amount that was budgeted or expected to be paid is subtracted from the total actual price that was paid.
Direct material quantity variance = (2.05x$3.20) less (2.20x$3.20)= -0.48
The total direct material quantity that is used is subtracted from the quantity that was expected to be used.
An indentured servant is a person who has agreed to work for another for a limited period, often in return for travel expenses, nominal food, shelter, and sustenance
A person who has contracted to work for another for a limited period, often in return for shelter, travel expenses, and sustenance is called an indentured servant. Those who contracted the indentured servants don’t pay them. Instead of payment, they offered shelter, nominal foods, boarding, travel expenses, and received passage to colonies in exchange for their labor. Indentured servants are bound to work with the contractor for a specified time.
Usually, the duties of indentured servants worked as cooks, field workers, housekeepers, or general laborers. While the more specific skills of indentured servants are plastering, blacksmithing, and bricklaying, which they later turned into careers later.
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The part of a house that is not considered as the exterior finish of a house is the Ceiling of a porch or breezeway.
<h3>What is the exterior finish of a house?</h3>
The exterior finish of a house refers to an outer layer or structure that can be seen physically from the outside and add to the image of the entire house.
A cornice is a horizontal architectural design of a building that is positioned away from the main walls used in directing rainwater from the building walls.
Thus, the exterior finish of the house is:
- An entry door
- Cornice
- Exterior wall coverings
From the given options;
- The ceiling of a porch or breezeway is usually inside the house.
Therefore, the part of a house that is not considered as the exterior finish of a house is the Ceiling of a porch or breezeway.
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Steven needs to create a budget that will list all of his expenses each month with regards to the income he brings in. Once Steven sits down and creates the budget he will see the money that is left over once he is done paying all of his necessary bills. The money that is left over can be saved to purchase a new car.
Answer:
d. 0.2
Explanation:
D = 500
R = 100
D*rr = R
500*rr = 100
rr = 100/500
= 0.2
Therefore, The required reserve ratio is a 0.2
