Where are the answers? Don't have much to work with...
1. What is the variable overhead spending variance? (HINT: The answer $980 unfavorable, but I need work to support this)
2. What is the variable overhead efficiency variance? (HINT: The answer is $4,040 unfavorable, but I need work to support this)
Answer:
d. credit to Salaries Payable for $8,600
Explanation:
<em>The journal entry would be as follows.</em>
Magnum Company
Payroll Journal
Particulars Debit Credit
Salaries $12,000 Debit
Federal Income taxes withheld 2,500 Credit
Social Security & Medicare taxes withheld 900 Credit
Salaries Payable $8,600 Credit
Unemployment taxes are paid by the employer . They are not deducted from the employees' wages . They include both the federal and state taxes.Social Security & Medicare taxes withheld $ 900 include the Social Security & Medicare taxes $ 900.
This type of sampling method is called cluster sampling. With cluster sampling, the researcher divides the population into distinct group so called clusters. Then, a simple random sample of clusters is particular from the population. The researcher conducts his investigation on data from the sampled clusters. Paralleled to simple random sampling and stratified sampling, cluster sampling has advantages and disadvantages. For example, given equal sample sizes, cluster sampling usually makes available less precision than either simple random sampling or stratified sampling. On the other hand, if travel costs between clusters are high, cluster sampling may be further cost-effective than the other methods.
