Answer and Explanation:
The computation is shown below;
a. Raw material price variance is
= (standard price - actual price) × actual quantity
= ($10 - $11) × ($69,300 ÷ $11)
= ($10 - $11) × 6,300
= $6,300 unfavorable
b. The raw material usage variance is
= (Standard quantity - actual quantity) × standard price
= (525 × 13 - 6,300) × $10
= $5,250 favorable
In this way it should be calculated
Answer:
C) $1,200 capital gain.
Explanation:
David's basis on the land was $24,000
liability assumed by other partners = $30,000 x (1 - 10%) = $27,000
liability assumed by David on the partnership's other liabilities = $18,000 x 10% = $1,800
David's gain = liability assumed by other partners ($27,000) - land basis ($24,000) - additional liability assumed by David ($1,800) = $1,200 gain
When a partner contributes property to a partnership, his/her gain or loss must be determined using the asset's basis, not the fair market value.
Answer:
It is possible if you either have a witness or if you take a lie detector test
Explanation:
Answer:
Inventory = $8.17190
Explanation:
First compute the total current assets:
Current Ratio = <u> Current Assets </u>
Current Liabilities
0.95 = <u>Current Assets</u>
25.3
Current Assets = 25.3 * 0.95
Current Assets = 24.035
Now,
Current Assets = 100%
Less: Cash = (43%)
Account Receivable = <u>(23%)</u>
Inventory = 34%
Now,
Inventory = Current Assets * Inventory%
Inventory = 24.035 * 34%
Inventory = $8.1719
