Answer:
Incurred but unpaid
Explanation:
When wages and salaries are incurred by an entity and paid, the entries required are debit Wages and Salaries expense, credit cash account. However, when the expense is incurred but cash is yet to be paid, this represents a liability to the organization and as such, an accrual is required. The entries to be posted are debit Wages and salaries expense (in the income statement), credit Accrued wages and salaries (in the balance sheet).
Answer:
$37,600 favorable
Explanation:
Variable overhead spending variance can be computed as;
= (Actual hours worked × Actual variable overhead rate) - ( Actual hours worked - Standard variable overhead rate)
= ( 18,800 hours × $77,700/12,000) - (18,800 hours × $4.5)
= [(18,800 × $6.5) - (18,800 × $4.5)]
= $122,200 - $84,600
= $37,600 favorable
Answer:
D) Shares in a brewery
Explanation:
Beer is not a durable good, and the security analyst reported non-durable goods are not going to perform well. The analyst didn't specify which non-durable goods would not perform well, but beer is the only possible option. The other three alternatives all relate to durable goods (steel, industries, home appliances).
Answer:
(a) 0.0085 rugs per dollar.
(b) 0.0069 rugs per dollar.
Explanation:
We have been given that Hokey Min's Kleen Karpet cleaned 75 rugs in October, consuming the following resources: Labor: 520 hours at $17 per hour.
(a) To find the labor productivity per dollar, we will divide number of rugs by amount spent on labor.
Therefore, the labor productivity is 0.0085 rugs per dollar.
(b) To find the multi-factor productivity, we will divide number of rugs by total cost or expenses.
Therefore, the multi-factor productivity is 0.0069 rugs per dollar.
