Answer:
Explanation:
Dec 31:
Debit Bad debts expense = 0.003 × $896000 = $2688
Credit Allowance for doubtful accounts = $2688
February 1:
Debit Allowance for doubtful accounts $448
Credit Accounts receivable—P. Park $448
June 5:
Debit Accounts receivable—P. Park $448
Credit Allowance for doubtful accounts $448
June 5:
Debit Cash $448
Credit Accounts receivable—P. Park $448
o What’s the Difference Between Non-Formal and Informal Learning
Answer:
I hope this will help you
The following data relate to direct materials for the month for the Hodge Wax Company: The standard costs for the work done was 5,900 pounds of wax at $9.50 per pound. The actual costs were 6,300 pounds at $9 per pound. What is the direct materials efficiency variance
Answer: $3800 U
Explanation:
The direct material efficiency variance will be calculated as follows:
Direct material efficiency variance = (Standard quantity - Actual quantity) × Standard price of material
= (5900 - 6300) × 9.50
= 400 × 9.50
= $3800 U
Therefore, the direct material efficiency variance is $3800 Unfavorable.