Answer:
5,220 hours
Explanation:
Lets summarize the information first,
Actual Hours = 5,140
Actual Indirect labor cost = $2,056
Spending Variance = $257 Unfavorable
Activity Variance = $28 Favorable
We can reverse work for budgeted labor hours, first for the standard rate,
Spending variance = Actual hours * Standard rate/hour - Actual Overheads
-257 = 5140x - 2056
x = (2056-257)/5140
x = 0.35/hour (This is the standard over head rate )
Activity Variance = Standard rate*Standard hrs - Standard rate*Actual Hrs
28 = 0.35y - 0.35*5140
Solving for y,
y = 1827/0.35
y = 5,220
So budgeted hours for Stolen Horse Corporation were = y = 5,220 hours
Hope that helps.
Answer:
The answer is C. only liable on pre-formation debt until a novation occurs.
Explanation:
The corporation and the third-party agree to release the promoter from liability and to substitute the corporation in place of the promoter as the party liable on the contract. May be express or implied.
Answer:
when costs are recognized as expenses on the income statement.
Explanation:
The expense recognition principle is an accounting principle which is typically used on accrual basis accounts and it states that expenses incurred by an individual or business entity should be recognized and matched in the same period with respect to the revenues they are related to.
The expense recognition principle indicates when costs are recognized as expenses on the income statement.
For instance, company XYZ purchases a property worth $90,000 in June, it was then sold in July for $250,000. Based on the expense recognition principle, the $90,000 cost shouldn't be recognized by company XYZ as an expense until July, when the related revenue would be recognized also. Else, if recognized, its expenses would be overstated by $90,000 in June, and consequently understated to the tune of $250,000 in July.
Additionally, the expense recognition principle helps business owners to calculate their taxes and profits or losses properly.
Answer:
The correct answer is D. a "can-do" spirit, pride in doing things right, no-excuses accountability, and a pervasive results-oriented work climate where people go the extra mile to meet or beat stretch objectives.
Explanation:
A true high performance organizational culture is the basis of innovation. Culture inspires people to go beyond their tasks, to take risks, to experiment and to make good decisions even when there is no one to control them.
Next, we tell you what are the 2 main characteristics of a high performance organizational culture:
- Each culture is unique. Some organizations have a strong personality; a powerful essence derived from a deep heritage. Others, such as Netflix or Google, have created their own hallmark. The combination of values, character, and beliefs generate deep empathy among employees, making their work more meaningful and rewarding.
- Even so, they all encourage a set of similar behaviors; Although there are different corporate “personalities”, all these promote similar behavior patterns. The people within these organizations are passionate about success; They are oriented to continue growing, focus on their customers and their competition, rather than internal policies. They think as owners and have a tendency to act in different situations. They build work teams encouraging collaboration and always open to change, essential characteristics for innovation.
Developing and maintaining this type of culture is a challenge, but it is possible; Leadership is key in this regard. A cultural change cannot be made without the leaders themselves adopting the behavior and values they wish to generate in the new culture. The most effective way to transmit it, is that they constantly have direct contact with the team, especially with key people who believe in culture and have an important weight within the organization, since they will be responsible for transmitting it to others. They are not afraid of the need to make changes to support the new culture, and constantly check that performance continues to remain high, as the culture progresses and evolves.
Answer:
$932 per unit
Explanation:
The computation of direct materials cost per equivalent unit is shown below:-
Work in process ending 100% complete in material = 840 + 290
= 1,130
Total cost = Direct material + Direct materials costs added during March
= $346,000 + $707,500
= $1,053,500
Material Equivalent unit cost = Total cost ÷ Units to account for
= $1,053,500 ÷ 1,130
= $932 per unit
