Answer:
The answers are:
A) to record sales
Dr Accounts Receivable 853,600
Cr Sales Revenue 853,600
to record inventory
Dr Cost of Goods Sold 540,300
Cr Merchandise Inventory 540,300
B) to record sales returns
Dr Sales Returns & Allowances 114,200
Cr Accounts Receivable 114,200
to record inventory
Dr Merchandise Inventory 68,200
Cr Cost of Goods Sold 68,200
C) to record payment
Cr Cash 717,218
Cr Sales Discounts 22,182
Dr Accounts Receivable 739,400
Answer:
Instructions are below.
Explanation:
Giving the following information:
Each unit of output requires 0.07 direct labor-hours. The direct labor rate is $8.70 per direct labor-hour. The production budget calls for producing 6,000 units in February and 6,500 units in March.
We need to determine the total direct labor hours needed for each month.
February:
Total direct labor hours= 6,000*0.07= 420 hours
Total direct labor costs= 420*8.7= $3,654
March:
Total direct labor hours= 6,500*0.07= 455 hours
Total direct labor costs= 455*8.7= $3,958.5
Answer:
Hazard Communication Standard (HCS) training program
Explanation:
The type of training described in this scenario is known as the Hazard Communication Standard (HCS) training program. This is a employee training program designed with the goal of explaining and reinforcing the written information regarding hazard labels and material safety data sheets, as well as how to behave around hazardous material and to apply this information to their workplace.
Given:
280,000 for the land
110,000 for the old bldg
33,500 to tear down old bldg
47,000 to fill and level the land
1,452,000 new bldg
87,800 for lighting and paving a parking area for the new bldg.
Entries: Debit Credit
Land 470,500
Cash 470,500
(280,000 + 110,000 + 33,500 + 47,000 = 470,500)
Building 1,452,000
Cash 1,452,000
Land Improvement 87,800
Cash 87,800
Expenses incurred in preparing the land for its purpose is classified under the land account. Land does not depreciate because its useful life is unidentified.
Land improvement account is used for expenses incurred to add functionality to the land and these output has useful life and is depreciated.
Considering the situation described in the question, if the allegations were accurate, the rating error the staff identified is known as the "Similarity Bias" error.
- This is because the Similarity Bias is a type of rating error where the rater rates a person or candidate higher than he deserves because they shared or have some similarities like having played for the same football team or attended the same school.
- There are other types of rating bias that do not apply to this situation.
- These include Halo bias and Leniency bias.
Hence in this case the correct answer is "Similarity Bias"
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