Answer:
$3,135 unfavorable
$9,937.50 unfavorable
Explanation:
The formula and the computation of the direct labor price and efficiency variance is shown below:
Direct labor price variance
= (Standard rate - Actual rate) × Actual hours of production
= ($15- $145,600 ÷ 9,500 hours ) × 9,500 labor hour worked
= ($15 - $15.33) × 9,500 labor hour worked
= $3,135 unfavorable
Labor efficiency variance is
= (Actual production - standard production) × standard rate per unit
= (6,600 units - 9,500 hours ÷ 1.6 hours) × $15
= (6,600 units - 5,937.0) × $15
= $9,937.50 unfavorable
Since the actual hours is more than the standard one so it would lead to unfavorable variance
Answer:
The correct options are:
- A. It is used to avoid the time and cost of writing checks for small amounts.
- C. It is established to pay for small payments like postage, shipping fees, etc.
- E. It is an asset reported on the balance sheet.
Explanation:
A Petty Cash Fund is a small amount of money that is kept on hand to be used in covering for the making of purchases that are too small to bother to write a check. Money from the petty cash fund can be used to pay for minor expenses such as postage, cab fares, shipping fees or office supplies.
Petty cash fund appears in the balance sheet on the current assets section. This is because line items in the balance sheet are sorted according to their order of liquidity. Since petty cash is highly liquid, it always appears near the top of the balance sheet.
Answer:
0.5
They are substitute goods.
Explanation:
Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.
Percentage change in quantity demanded of burgers = (360 - 300) / 300 = 0.2 = 20%
Percentage change in price of hot dog = (2.10 - 1.50) / 1.5 = 0.4 = 40%
Cross price elasticity of demand = percentage change in quantity demanded/ percentage change in price
20 / 40 = 0.5
Elasticity of demand is less than 1, so demand is inelastic.
Also, the cross price elasticitiy is positive, so the goods are substitutes goods.
I hope my answer helps you
If a farmer uses tractors, combines, automated irrigation systems, and computers to manage the farm, this farmer is producing in a mechanized manner.
<h3>What is mechanized farming?</h3>
Mechanized farming include the use of farm implement and technology to improve efficiency of workdone on the farm.
Modern equipment such as tractor, bulldozer can be used for farming operations.
Therefore, If a farmer uses tractors, combines, automated irrigation systems, and computers to manage the farm, this farmer is producing in a mechanized manner.
Learn more on mechanization here,
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