EM
Ederline Milien
Answers (6)
EM
Answered
What are some causes of direct labor rate and efficiency variances?
On Jul 28, 2024
The use of workers with different skill levels might be the main cause of direct labor rate and efficiency variances.The production manager must assign workers to tasks with the appropriate skill level.For instance,using workers with low skill levels might create a favorable rate variance,but an unfavorable efficiency variance.On the other hand,using workers with high skill levels might create an unfavorable rate variance but a favorable efficiency variance.
EM
Answered
Which of the following is true regarding the effect of an automatic stay on claims of secured creditors in a Chapter 7 proceeding?
A) The automatic stay affects the claims of secured creditors in the same way it affects the claims of unsecured creditors.
B) Secured creditors with claims of over $5,000 are not affected by the automatic stay.
C) Secured creditors with claims of over $15,000 are not affected by the automatic stay.
D) Secured creditors with claims of over $20,000 are not affected by the automatic stay.
E) The court may exclude secured creditors from the automatic stay if they petition the court to show that they do not have adequate protection under the stay.
A) The automatic stay affects the claims of secured creditors in the same way it affects the claims of unsecured creditors.
B) Secured creditors with claims of over $5,000 are not affected by the automatic stay.
C) Secured creditors with claims of over $15,000 are not affected by the automatic stay.
D) Secured creditors with claims of over $20,000 are not affected by the automatic stay.
E) The court may exclude secured creditors from the automatic stay if they petition the court to show that they do not have adequate protection under the stay.
On Jul 26, 2024
E
EM
Answered
Lessington Corporation purchases 4,000 shares of Gonzalez Company common stock for $150,000 cash.Gonzalez has 500,000 shares of stock currently outstanding.Lessington's entry to record the purchase would include a:
A) Debit to Stock Investments for $150,000.
B) Credit to Common Stock for $150,000.
C) Credit Equity Method Investment $150,000.
D) Debit to Long-Term Investments-AFS for $150,000.
E) Debit to Equity Method Investment for $150,000.
A) Debit to Stock Investments for $150,000.
B) Credit to Common Stock for $150,000.
C) Credit Equity Method Investment $150,000.
D) Debit to Long-Term Investments-AFS for $150,000.
E) Debit to Equity Method Investment for $150,000.
On Jun 28, 2024
A
EM
Answered
Benton and Orton are partners who share income in the ratio of 1:3 and have capital balances of $70,000 and $30,000, respectively. Ramsey is admitted to the partnership and is given a 40% interest by investing $20,000. What is Benton's capital balance after admitting Ramsey?
A) $20,000
B) $7,000
C) $70,000
D) $63,000
A) $20,000
B) $7,000
C) $70,000
D) $63,000
On Jun 26, 2024
D
EM
Answered
In the accounting records of a defendant,lawsuits:
A) Are known liabilities.
B) Should always be recorded.
C) Should always be disclosed.
D) Should be recorded if payment for damages is probable and the amount can be reasonably estimated.
E) Should never be recorded.
A) Are known liabilities.
B) Should always be recorded.
C) Should always be disclosed.
D) Should be recorded if payment for damages is probable and the amount can be reasonably estimated.
E) Should never be recorded.
On May 29, 2024
D
EM
Answered
Fix the parallelism problems in the following paragraph.
In order to graduate on time, he will have to take courses in finance, marketing, and how to do account management. But in order to pass them, he will have to study hard, go to class, and will probably have to be working fewer hours at his campus job.
In order to graduate on time, he will have to take courses in finance, marketing, and how to do account management. But in order to pass them, he will have to study hard, go to class, and will probably have to be working fewer hours at his campus job.
On May 27, 2024
To graduate on time, he will have to take courses in finance, marketing, and account management. But to pass them, he will have to study hard, go to class, and work fewer hours at his campus job.