Answer:
Total materials variance = (Actual quantity * Actual price) - (Standard quantity * Standard price)
= 2,850 - (230 * 14.4)
= 462 (Favourable)
Materials price variance = (Standard price - Actual price) * Actual quantity
= [1.8 - (2,850/1,500)] * 1,500
= 150 Unfavourable
Materials quantity variance = (Standard quantity - Actual quantity) * Standard price
= [(230 * 8) - 1,500] * 1.8
= 612 Favourable
Total labour variance = (Actual hours * Actual rate) - (Standard hours * Standard rate)
= 19,458 - (230 * 84)
= 138 Unfavourable
Labour price variance = (Standard rate - Actual rate) * Actual hours
= [14 - (19,458/1,410)] * 1,410
= 282 Favourable
Labour quantity variance = (Standard hours - Actual hours) * Standard rate
= [(230 * 6) - 1,410] * 14
= 420 Unfavourable
Answer:
The correct answer is (C)
Explanation:
They are the two crucial characteristics that are general used to make accounting data more useful to make long-term decisions. To be exact, faithful representation helps to attain the relevant data for the company and this quality enhances the reliability of financial data. Completeness, fairness and free of error these three characteristic are a part of faithful representation of data.
Answer:
The correct answer is option c.
Explanation:
Inflation implies an increase in the general price level. It reduces the purchasing power of consumers.
If the wages are increasing slower than the rate as inflation it means that the disposable income is increasing at a slower rate than the increase in prices. It implies that purchasing power is declining.
If wages are increasing at the same rate as inflation, it means that the purchasing power is constant. If wages are increasing at a faster rate than the increase in the inflation rate, it means that the purchasing power is increasing.
Answer:
The amount of equity Oanh have in her house is $300,000.
Explanation:
Equity can be described as the difference between the amount that is owed on a mortgage and the current worth of the home.
For this question, the amount of equity Oanh have in her house can be calculated as follows:
Loan amount = $160,000
Part of the loan paid = $60,000
Current worth of the house = $400,000
Amount owed = Loan amount - Part of the loan paid = $160,000 - $60,000 = $100,000
Equity = Current worth of the house - Amount owed = $400,000 - $100,000 = $300,000
Therefore, the amount of equity Oanh have in her house is $300,000.
Answer:
Her mother's trust
Explanation:Since opportunity cost is summarily defined as the value of something that must be put on the line in order to acquire or achieve something else, the opportunity cost for maria choosing to go to the concert is her mother's trust. In other words, she gave up her mother's trust to attend the concert.
