Assigning indirect costs to specific jobs is completed by using the predetermined overhead rate. The answer is B.
Once the predetermined overhead rate is established, it is applied to each job based on the actual amount of the allocation base used by that job. This ensures that indirect costs, such as rent, utilities, and supervision, are allocated to each job in a fair and accurate manner.
By using the predetermined overhead rate, companies can determine the true cost of each job, which is essential for accurate pricing decisions and for determining the profitability of each product or service.
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b. expense.
c. contra-asset.
d. revenue.
the direct labor efficiency variance by subtracting the standard hours for units produced (50,000) from the actual hours used (48,000) and multiplying that by the standard rate per hour ($14.00). This gives us a result of $28,000 unfavorable. The correct option B) $28,000 unfavorable
The direct labor efficiency variance measures the difference between the actual hours used and the standard hours that should have been used based on the units produced.
In this case, the actual hours used were less than the standard hours for units produced, which may indicate that the company was not using its labor resources efficiently. Additionally, the actual rate per hour was higher than the standard rate per hour, which could be a contributing factor to the unfavorable variance.
A favorable variance indicates that the company is using its labor resources efficiently and/or paying a lower rate per hour than expected. On the other hand, an unfavorable variance suggests that the company is not using its labor resources efficiently and/or paying a higher rate per hour than expected.
In this case, the $28,000 unfavorable variance implies that the company needs to improve its labor efficiency and/or negotiate better rates with its employees. Therefore, The correct option B) $28,000 unfavorable
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complete question
the following information describes a company's usage of direct labor in a recent period. the direct labor efficiency variance is: actual hours used 48,000 actual rate per hour$15.00 standard rate per hour$14.00 standard hours for units produced 50,000 multiple choice A) $48,000 unfavorable. B) $28,000 unfavorable. C) $28,000 favorable. D) $20,000 unfavorable. E) $48,000 favorable.
b. As a conditional promise to give of $10,000.
c. As temporarily restricted support of the present value of $10,000.
d. As temporarily restricted support of $10,000.
Answer:
a. It should not be accounted for until it is received.
Explanation:
When a donor make a promise to make a donation of certain amount of money to a not-profit-organization, the amount is referred to as a pledge.
There are two important variations of a pledge depending on the conditions attached to it. These variations have to be considered when the pledge is being accounted for. The following are the two variations:
1. Unconditional pledge: This occurs when a pledge is committed to by a donor without any reservation. In this case, the funds will be recorded as revenue and an account receivable by the not-for-profit organisation that is receiving it.
2. Conditional pledge: This occurs when a pledge is committed to by a donor but with a condition to be met attached to it. That is, the donor promises the organisation certain amount of money contingent upon some future event. In this case, the not-for-profit organisation will not record anything. The organisation has to wait until the condition is met. When the condition is eventually met, the pledge will then be recorded as revenue and an account receivable.
The answer:
Since a pledge of $10,000 received by the League has a condition attached to it that the donation will not be received for three years, that is, it will not be received until after three years, the pledge is considered as a conditional pledge. Therefore, the League will not record anything until after it receives the pledge.
Therefore, the Cats and Dogs League should not be accounted for until it is received.
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