Answer:
Southwest Airlines
Partial Balance Sheet December 31, 2021
Current Liabilities
Current portion of long-term debt $6,800,000
Long Term Liability
Notes Payable $<u>32,600.000</u>
(39,4000,000-6,800,000)
Total Liabilities $<u>39,400,000</u>
Answer:
Standard material quantity allowed = 270 units × 8 pounds
= 2,160
Material Price variance = Actual Quantity (Standard price - Actual price)
= 2,100 (3.90 - 4.00)
= 210 Unfavorable
Material Qty variance = Standard price (Standard quantity - Actual quantity)
= 3.90 (2,160 - 2,100 )
= 234 Favorable
Total Material Variance:
= (Standard quantity × Standard price) - (Actual Quantity × Actual price)
= (2,160 × 3.90) - (2,100 × 4)
= 24 Favorable
Labour rate variance = Actual hours (Standard rate - Actual rate)
= 1390(14 -13.80 )
= 278 Favorable
Labor efficiency variance = Standard rate (Standard hours-Actual hours)
= 14 (1350 -1390)
= 560 Unfavorable
Total Labour cost variance:
= (Standard hours × Standard rate) - (Actual Hours × Actual rate)
= (1350 × 14) - (1390 × 13.80)
= 282 Unfavorable
It is true that a society accepts minimum wage laws as a method of determining wages because the law is made to determine the wages.
The market value of a good has a direct relationship with the wages; hence it is true that the market value of a good determines wages.
The quality of a good has no direct relationship with the amount of wages hence it does not determines the wages.
Employee productivity also has a direct relation with the quality of the work and hence it also determines the wages.
It is true according to the law that the price floor determines the minimum wage.
Hence the only False statement is:
The quality of a good determines wages.
Streaming services and TV sets: complements
Streaming services and movie tickets: substitutes
TV sets and movie tickets: substitutes
<span>it combines the benefits of a partnership and a corporation.</span>
