Answer:
Direct material price variance= $5,580 unfavorable
Explanation:
Giving the following information:
The standard price of $6.50 per gram.
During the month the company purchased 27,900 grams of the direct material at $6.70 per gram.
<u>To calculate the direct material price variance, we need to use the following formula:</u>
<u></u>
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (6.5 - 6.7)*27,900
Direct material price variance= $5,580 unfavorable
Answer: False
Explanation:
Interest paid by Corporations on debts are already a tax deductible expense. If laws were changed allowing $0.5 out of every $1.00 to be tax deductible, that would mean that $0.5 would still have to be paid tax on. That would mean that Corporations now have to pay more taxes because current tax laws allow for every $1 of interest (100%) to be tax deductible.
It is therefore unlikely that Corporations would borrow more.
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Answer: In Favour of Ewing.
Explanation:
When Dean made that promise, he got into a contract with Ewing.
Now for a contract to be enforceable, 4 components must be satisfied. These components are, Agreement, Capacity (mental), Consideration and Legality.
From the above text we can tell that this is therefore a valid contract because both of them agreed to the proposal and were both of sound mind when they did. There was a Consideration ( the benefit in the contract) of $10 per pound and this contract is legally sound so this is a valid contract.
Ewing has fulfilled his side of the bargain and is entitled to his reward or payment.
Dean's claim that Ewing’s improved health is a sufficient benefit for his effort and sacrifice which indeed is a benefit, should not be considered sufficient because it was not agreed upon as a term in the contract.
Answer:
=$350,000
Explanation:
Property, plant, and equipment are the tangible long-term fixed assets of a company. The total of PPE is the sum of all fixed long term assets minus accumulated depreciation.
There are fixed assets hence will appear on the asset side of the balance sheet. For Koonce Office Supplies, PPE will include
Land : $180,000
Buildings: $210,000
Total = $180,000 + $210,000
Total = $390,000
less accumulated depreciation
=$390,000 -$40,000
=$350,000