Answer:
(D) Unfavorable labor quantity variance
Explanation:
Since in the question, the lower quality material is ordered so that less price can be given which required more hours to process the material as compared to the standard which results in unfavorable labor quantity variance
The formula to compute the labor quantity variance is shown below:
= Standard Rate × (Actual hours - Standard hours)
If the standard hours are more than actual hours than it leads to unfavorable instead of favorable
Answer:
material participant
Explanation:
In order to be considered a material participant in a business, you have to work at least 100 hours. The IRS allows material participants to include business income as regular earned income, instead of passive income.
Since Lee worked more than 100 hours in each of these businesses, he will be considered a material participant in all of them.
173958292047565830202&375857292
Answer:
Option (a) is correct.
Explanation:
Average of quantity supplied:
= (70,000 + 30,000) ÷ 2
= 50,000
Percentage change in quantity supplied:
= (70,000 - 30,000) ÷ 50,000
= 0.8
Average of price change:
= (8 + 4) ÷ 2
= 6
Percentage change in price:
= (8 - 4) ÷ 6
= 0.667
Therefore,
Elasticity of supply in the market for gadgets:
= Percentage change in quantity supplied ÷ Percentage change in price
= 0.8 ÷ 0.667
= 1.2
Answer:
A. not affect expenses in 2019.
Explanation:
Using the allowance method, when the amount is written off , the account receivable account is credited whereas the allowance for doubtful debts is debited
Moreover, it does not affect the income statement as there is no expenses incurred or no revenue earned is recorded
So, in this case, there is no affect on expenses account
