Answer:
1. $3.20 x 2.20 = $7.04
2. It will be favorable.
3. It will be unfavorable.
4. Direct material price variance = $22
Direct material quantity variance = 0.48
Explanation:
1. Standard direct cost per unit=cost of direct materials price x direct material standard quantity per unit.
2. It will be favorable because they expected or had budgeted to pay $3.60 per foot for the material but the actual cost became $3.20. So they pay $0.40 less than they had expected to pay.
3. It will be unfavorable because they had planed or budgeted for each unit to use 2.05 feet of leather but they ended up needing 2.20 feet of leather per collar so that means they under budgeted by 0.15 feet.
4. Direct material price variance =( $3.60 x 55) less ($3.20x55)=$22
The total amount that was budgeted or expected to be paid is subtracted from the total actual price that was paid.
Direct material quantity variance = (2.05x$3.20) less (2.20x$3.20)= -0.48
The total direct material quantity that is used is subtracted from the quantity that was expected to be used.
Answer:
Simone will be considered unemployed.
Explanation:
Simone is 26 years old, this means that she is in the adult population. She used to work as a copy editor for a newspaper. She has lost her job and is actively looking for work. She will be considered an unemployed person and will be included in the labor force.
Those workers who do not have a job currently but are actively looking for one are considered unemployed. Those who are without jobs but are not actively looking for one are considered discouraged workers and are not included in the labor force. The labor force includes only employed and unemployed workers.
Complete Question:
Cesar was being recruited by a competitor due to his success at his current company in getting several new patents. This is an example of ________ capital.
Group of answer choices
A) social
B) customer
C) human
D) intellectual
E) financial
Answer:
D) intellectual
Explanation:
In this scenario, Cesar was being recruited by a competitor due to his success at his current company in getting several new patents. Therefore, this is an example of intellectual capital because he was recruited based on his intangible assets which made him excel or succeed.
An intellectual capital can be defined as the value or intangible assets such as skills, copyright, trademarks, experience, patents, knowledge provided by the employees working in an organization and thus, giving the organization a competitive advantage over their rivals in the same industry, as well as earn more profits, increase their customer base and creation of quality products.
Answer:
Vince's Vehicle Repairs
The Cost of Sales is:
= $72,000.
Explanation:
a) Data and Calculations:
Turnover = $180,000
Gross profit margin = 60%
Net profit margin = 22%
Gross profit margin = Gross profit/Turnover * 100
60% = Gross Profit/$180,000 * 100
Therefore, the Gross Profit = $180,000 * 60%
Gross Profit = $108,000
Cost of sales = Turnover - Gross profit (100% - 60%)
Cost of sales = $180,000 - $108,000
= $72,000
Alternatively, Cost of Sales:
= $180,000 * (100% - 60%)
= $72,000
Answer:
Dr Bond investment $50,000
Cr cash $50,000
Dr cash $1,250
Cr interest revenue $1,250
Dr cash $50,000
cr bond investment $50,000
Explanation:
On July 1 2019,Red company would have parted with cash of $50,000 which means that cash account should be credited with $50,000 while bond investment account is debited with same amount
On receipt of first interest payment of $1,250 (5%*$50,000*1/2) cash is debited with $1,250 while interest revenue is credited with the same amount.
Upon receipt of face value at redemption,the journal entry would be opposite of the initial one
