<u>Explanation:</u>
1. Calculation of labor spending variance for the month of march
Labor spending variance = (Actual rate x actual hours)- (Standard rate x Standard hours)
=(13 x 63000) - (12 x (26000 x 3))
=-1,38,600
Labor spending variance for the month of March is $138600
2.Calculation of variable manufacturing overhead planning cost
Variable manufacturing overhead planning cost= (Planning budget units x required hours x cost per hour)
=(21000 x 3 x7)
=441,000
Variable manufacturing overhead planning cost is $441,000
3. Calculation of Variable manufacturing overhead cost
Variable manufacturing overhead cost= (Actual units x required hours x cost per hour)
=(26600 x 3 x7)
=$558,600
Variable manufacturing overhead cost is $558,600
4. Calculation of Variable overhead rate variance
Variable overhead rate variance= Actual hours ( actual rate - standard rate)
=63000((510930/63000)-8)
=63000(8.11-8)
=63000(0.11)
=6930
Variable overhead rate variance is =6930
Answer:
$880
Explanation:
Sales excluding sales tax
11880/(1+0.08)
11880/1.08
= $11,000
Sales tax payable =
Total sales including sales tax - Sales excluding sales tax
= $11,880 - $11,000
= $880
Therefore, sales tax payable is $880
Answer:
North Star
Adjusting Journal Entries:
December 31:
Rent Expense $1,280
Prepaid Rent $1,280
To accrue rent for the period.
Depreciation Expense $1,080
Accumulated Depreciation $1,080
To accrue Depreciation charge for the year.
Utilities Expense $9,800
Utilities Payable $9,800
To accrue unpaid utilities.
Income Tax Expense $470
Income Tax Payable $470
To accrue income tax liability.
Explanation:
Adjusting entries are journal entries that are made at the end of an accounting period to ensure that all expenses and incomes pertaining to the period are recognized in accordance with the accrual concept and the matching principle. These accounting concepts require that all expenses incurred whether paid for or not and income whether received or not, which relate to the period, are matched respectively.
Answer:
The balance in ABC's Prepaid insurance-account as on Dec 31, 2018 is <em>$27,000</em>
Explanation:
Liability policy = ($54,000 / 18) × 6 months
Liability policy = $18,000
Crop damage policy = ($18,000 x 12 / 24)
Crop damage policy = $9,000
ABC's Prepaid insurance-account balance as on Dec 31, 2018 = $27,000
Thus,
Total Liability insurance period = 18
Now,
Expired period period - 12 months ( Jan 1, 2016 to Dec 31, 2016 )
Unexpired period = (18 - 12) months = 6 months
Answer:
She is using the <u>generic differentiation strategy.</u>
Explanation:
This strategy consists of the differences shown by the product or service offered by the company compared to others that do the same, creating something that is perceptive for people who are looking for something new or are tired of the same things as always.
By including new premium flavors, cones and toppings on the menu, she is giving customers the pleasure of choosing for themselves how their ice cream will taste, what shape it will have, what colors it will have.
