Answer:
The recognized gains upon the sale is $2000.
Explanation:
As the cost of purchase of the equipment to Mathew is $15000 and the sale proceeds received is $17000. The gain is actually calculated as follows;
Gain = Sale proceeds –Cost of equipment
Gain = Matthew sells the equipment to an unrelated party for $17,000 – Matthew bought equipment for its fair market value of $15,000
Which is $1700 -$1500 = $2000
Therefore the recognized gains upon the sale is $2000.
Answer:
14,275= actual hours
Explanation:
Giving the following information:
The standard for a particular crane calls for 14 direct labor-hours at $16 per direct labor-hour.
During a recent period, 1,000 cranes were made.
The labor efficiency variance was $4,400 Unfavorable.
To determine the actual hours worked, we need to use the direct labor efficiency variance formula:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
-4,400= (14*1,000 - actual hours)*16
-4,400= 224,000 - 16actual hours
228,400/16= actual hours
14,275= actual hours
Research suggests that passengers substantially increase the risk of a collision <span>only when another distraction is involved.</span>
