Answer:
1. 4,200
2. $12,810
3. -$3,090 Unfavorable
4. a. $265 Favorable
b. -$3,355 Unfavorable
Explanation:
The computation of given question is shown below:-
1. Standard labor-hours
Standard labor-hours = Shipped items × Direct labor-hours
= 140,000 × 0.03
= 4,200
2. Standard variable overhead cost allowed
Standard variable overhead cost allowed = Standard variable Overhead rate per hour × Standard labor-hours
= $3.05 × 4,200
= $12,810
3. Variable overhead spending variance
Variable overhead spending variance = Standard variable overhead for actual output - Actual variable Overhead
= $12,810 - $15,900
= -$3,090 Unfavorable
4. a. Variable overhead rate variance
Variable overhead rate variance = (Actual hours × Standard rate per hour) - Actual variable Overhead
= (5,300 × $3.05) - $15,900
= $16,165 - $15,900
= $265 Favorable
b. Variable overhead efficiency variance
Variable overhead efficiency variance = Standard rate per hour × (Standard hours - Actual hours)
= $3.05 × ( 4,200 - 5,300)
= $3.05 × -$1,100
= -$3,355 Unfavorable
The answer is C! hope this helped!
Answer:
B. Being unwilling to sell a painting that you already own
Explanation:
Endowment effect is when individuals value things they own more highly than things they don't own. The endowment effect postulates that individuals are unwilling to exchange things they own for something else of equal value.
The amount people would be willing to accept in exchange for the good they own is usually very high compared to the true value of the object they own.
I hope my answer helps you.
Answer: See explanation
Explanation:
1. Prepare a single-step income statement for 2017. Shares outstanding during 2017 were 100,000. (Round earnings per share to 2 decimal places, e.g. $1.48.)
The income from continuing operations for earnings per share was calculated as:
= 285000/100000
= $2.85
The loss on discontinued operations was calculated as:
= 35190/100000 shares
= 0.35
Check the attachment for the solution.
2. Prepare aretained earning statement for 2017. Shares outstanding for 2017 were 100000.
Check the attachment for the solution
Answer:
Protected assets:.
Pass-through taxation:
Tax-favorable characterization of income:
Straightforward transfer of ownership:
Cash method of accounting
Heightened Credibility:
Explanation:
The advantage S-Corporation have over all other forms of businesses is as follows:
Protected assets:. An S corporation protects the personal assets of its shareholders.
<em>Pass-through taxation</em>:An S corporation does not pay federal taxes at the corporate level. It is of benefit to businesses starting from inception
<em>Tax-favorable characterization of income</em>:S corporation shareholders can be employees and be paid as employees. They can also receive dividends from the corporation and distributions that are tax-free to the magnitude of their investment in the corporation
<em>Seemless transfer of ownership</em>: Ownership can be freely transferred to people legally
<em>Cash method of accounting</em>: They don't have to use the accrual method of accounting while other Corporations use that(except for small businesses)
<em>Heightened Credibility</em>: It helps to establish a strong credibility with business partners, employees, vendors
