Answer:
17,550
Explanation:
Labor efficiency variance = Standard rate * (Actual hours - Standard hours)
$1200 = $24 * (Actual hours - 875*20)
50 = Actual hours - 17,500
Actual hours = 17,500 + 50
Actual hours = 17,550
So, the actual direct labor-hours which were worked is 17,550.
Answer: Federal aid
Explanation:
Federal aid helps students with the cost of tuition for everyone. It allows for students to keep out of major debt.
Answer:
Dr Work in process $13,210
Cr Wages payable $13,210
Explanation:
Based on the information given the appropriate journal entry to record the flow of labor costs into production during August is:
Dr Work in process $13,210
Cr Wages payable $13,210
(580*$13)+(630*$9)
($7540+$5670)
(To record the flow of labor costs into production during August)
Questions is incomplete. It's last line is: *Jim's decided to get dinner worth that amount*
Answer:
- Alexander's Loss Aversion
- Jim's Mental accounting.
Explanation:
Loss Aversion: Some people are always frightened of losing and always try to avoid it by making irrational decisions which make their sufferings worst. <em>This</em> <em>scenario</em> is the example of loss aversion where the focus on gains is lost but all they see are failures.
- <em>It is a common decision-making mistake people go for during which they will not leave until the loss is not realized </em>
In Alexander's case: He is trying to avoid losses and hoping that his investment would be saved although, the company he has invested in will soon go bankrupt. He should realize that before it gets too late and end up his sufferings.
Mental Accounting: It refers to the spending behavior by which people categorize the money they have often without logic.
For example: A person monthly earning is $40, but suppose he gets only $30 for whatever reason, and he has to pay rent which is $35. So he is 5 dollars short but he had decided that he will eat chocolate worth $5 next month, so he will go for that chocolate even if he is short.
In Jim's case: He got $50 which he didn't have before, he could have used it for better purposes, than going to a dinner. Because he didn't have that amount before that.