Answer:
572 Favorable
Explanation:
Direct Labour efficiency Variance:
= (Standard Labour Hour - Actual Labour Hour) × Standard Rate
= [(78 connectors × 3 hours of direct labor per connector) - (190 hours)] × $13 per hour
= [234 hours of direct labor - 190 hours] × $13 per hour
= 44 hours × $13 per hour
= $572 Favorable
Therefore, Banner's direct labor efficiency variance for August is $572 Favorable.
Answer:
A. Debit Income Summary $41,300; credit Expense accounts $41,300
Explanation:
At the end of the period, the revenue and expenses for the company are closed into the income summary account which in turn is closed into the retained earnings account.
For revenue, the entries are debit revenue and credit income summary with the revenue for the year. For expenses, credit expenses and debit income summary with the total expense for the year.
As such, given that Total revenues for the period are $58,200, total expenses are $41,300, and dividends are $10,200, the correct closing entry for the expense accounts is
Debit Income Summary $41,300
Credit Expense accounts $41,300
Answer:
285,000 common stock outstanding with a $8 par value
it declares 13% stock dividend
market price at $16
since the stock dividend is considered small (less than 20%), we use the market price to record it
December 1, 202x stock dividends are declared (37,050 stocks)
Dr Retained earnings 592,800
Cr Common stock dividends distributable 296,400
Cr Additional paid in capital 296,400
December 31, 202x, distribution of stock dividends
Dr Common stock dividends distributable 296,400
Cr Common stock 296,400
Answer:
B. $9
Explanation:
Assets value = $500 million
Liability value = $50 million
Use following formula to calculate NAV
Net Assets value = Assets value - Liability value
Net Assets value = $500 million - 50 million
Net Assets value = $450 million
Net Assets value = $450 million / 50 million
Net Assets value = $9 per share
So, the correct option is B. $9.
Answer:
The correct answer is option A.
Explanation:
A budget line shows the maximum possible bundles or combinations of two goods that can be purchased by completely exhausting the given income. All the points on the budget line show attainable and efficient bundles. The points below the budget line represent inefficient but attainable bundles. Those points that are above the line show unattainable bundles as they require higher income.
A movement on the same budget line shows the change in the quantity of two goods. The price of the products and income of the consumer will remain the same.
