Answer:
Actual Direct material cost = $81,500
Actual Direct labor cost = $187,500
Actual manufacturing overhead = $272,000
Explanation: kindly see attached picture for detailed explanation.
Variances ; Standard Cost Unfavorable Favorable Direct materials $ 80,000 Price variance $ 4,500 Quantity variance $ 3,000 Direct labor 184,000 Rate variance 2,700 Efficiency variance 6,200 Manufacturing overhead 271,000 Spending variance 4,000 Volume variance 5,000 Determine the actual costs incurred during the month of May for direct materials, direct labor, and manufacturing overhead.
Answer:
Jacob made a mistake at the Initiation stage of the project management process
Explanation:
The initiation stage is the first stage in every project cycle. It is the stage of defining the objectives, scope, purpose and deliverable to be produced.
If this stage of project management had been well managed the project might not have failed because the employees would have been guided on the trends to follow to achieve the various goal and objectives set for each projects.
Answer:
$6,130
Explanation :
The adjusted cash balance can be determined by doing the following steps
- Prepare an updated Cash Book to update the Cash Book Balance and,
- Prepare a Bank Reconciliation Statement to check the accuracy of the new Cash Book Balance
<u>Step 1 : Updated Cash Book</u>
Cash Book (Bank columns only)
Debit :
Unadjusted Balance as at April 30 $ 6,210
Credit Transfers $ 640
Total $6,850
Credit:
Bank charges $ 110
Dishonored checks $ 610
Adjusted Balance (Balancing figure) $6,130
Total $6,850
Step 2 : Bank Reconciliation Statement
Bank Reconciliation Statement as at April 30
Balance as per Cash Book (updated) $6,130
Less Outstanding Lodgements ($ 1,430)
Add Unpresented Checks $ 750
Balance as per Bank Statement $5,450
