Answer:
Date Account Title Debit Credit
12/31 Cash $23,000
Patent $85,000
Accounts Receivable $38,000
Accounts Payable $10,000
Allowance for doubtful debt $2,000
Capital $134,000
Explanation:
The construction of the income statement for the year ending 2015 is attached in the attachment. Kindly find it below:
As we know that the income statement records only the revenue and the expenses for the particular year
If the income is higher than the revenue, the company earns the net income otherwise it is a net loss and the same is to be reported on the statement of the stockholder equity
The earning per share is
= Net income ÷ Shares outstanding
and the same is shown in the attachment
"<span>advent of globalization" The advent of globalization has sparked a trend of entrepreneurs.</span>
Answer:
a. $13
b. $20,625 Unfavorable
Explanation:
a. Computation of overhead volume variance is shown below:-
Variable overhead rate = Variable overhead cost ÷ Expected standard hours
= $275,000 ÷ 25,000
= 11 direct labor hour
Fixed overhead rate = Productive capacity ÷ Expected standard hours
= $50,000 ÷ 25,000
= $2 direct labor hour
Total overheard rate = Variable overhead rate + Fixed overhead rate
= $11 + $2
= $13
b. The computation of overhead controllable variance is shown below:-
Variable overhead cost = Overhead rate × Standard hours
= $11 × 21,875
= $240,625
Fixed overhead cost = Overhead rate × Standard hours
= $2 × 21,875
= $43,750
Total overhead cost = $13 × 21,875
= $284,375
Actual result = $305,000
Variance = Actual result - overhead cost applied
= $305,000 - $284,375
= $20,625 Unfavorable
Working note:-
Standard direct labor hours = Actual units ÷ Standard hours
= 35,000 × 1.6
= $21,875
Standard units per hour = (Standard capacity × Expected production) ÷ Standard hours
= (50,000 units × 80%) ÷ 25,000 hours
= 1.6 units per hour
Answer: false
Explanation: Extrinsic motivation relates to actions motivated by incentives from the outside, such as wealth, popularity, promotions, and recognition. This form of motivation comes from the outside of the person, as contrasted to the internal motivation that comes from within the person.
Extrinsic motivation is commonly defined as the inclination to participate in activities to receive some kind of perceived outward benefit. It is worth noting that either physical or mental in essence can be these incentives. Thus, from the above we can conclude that the above statement is false.
