Why are unfavorable variances recorded by using debit entries and favorable variances recorded by using credit entries?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 84% (13 reviews)
Unfavorable variances are recorded by debit entries because they represent costs in excess ...View the full answer
Answered By
Lilian Nyambura
Hi, am Lilian Nyambura, With extensive experience in the writing industry, I am the best fit for your writing projects. I am currently pursuing a B.A. in Business Administration. With over 5 years of experience, I can comfortably say I am good in article writing, editing and proofreading, academic writing, resumes and cover letters. I have good command over English grammar, English Basic Skills, English Spelling, English Vocabulary, U.S. English Sentence Structure, U.K. or U.S. English Punctuation and other grammar related topics. Let me help you with all your essays, assignments, projects, dissertations, online exams and other related tasks. Quality is my goal.
4.80+
378+ Reviews
750+ Question Solved
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Question Posted:
Students also viewed these Managerial Accounting questions
-
"Unfavorable variances will always have debit balances, whereas favorable variances will always have credit balances." Is this statement true or false? Why?
-
Use the following terms to complete the sentences that follow; terms may be used once, more than once, or not at all: Static Purchasing manager Flexible Favorable Volume Unfavorable Spending Debit...
-
Dame row Credit Services produces reports for consumers about their credit ratings. The companys standard contribution margins average 70% of dollar sales, and average selling prices are $50 per...
-
A supplier has the following financial information available: Cash: $100,000 Current Assets: $1,000,000 Fixed Assets: $1,000,000 Total Assets: $2,000,000 Current Liabilities: $500,000 Total...
-
Define a campaign plan, and list the typical components
-
Summarize the evidence regarding the impact of the minimum wage on employment.
-
An electric motor, having an unbalance of \(2 \mathrm{~kg}-\mathrm{cm}\), is mounted at the end of a steel cantilever beam, as shown in Fig. 9.51. The beam is observed to vibrate with large...
-
Express Corporation wants to buy a new stamping machine. The machine will provide the company with a new product line: pressed food trays for kitchens. Two machines are being considered; the data for...
-
After 10 years of living together, Ebba and Fredrik decided to separate. The main reason for the separation was Fredrik's 18-year-old son, Henrik, who went to high school, and had had a teenage...
-
As the accountant for Veneskey & Sons, you have been hired to prepare the payroll and everything that goes along with it for OlFashion Industries which has 4 employees. Their necessary payroll...
-
Who might a plant accountant consult with when establishing direct labor quantity or rate standards?
-
Explain how efficiency and price or rate variances for direct labor can be closely interrelated.
-
EFGH is a kite. Find mG. E F 150 H + G
-
Write a program that prints a Christmas tree: /\ "1 11 1 " " Remember to use escape sequences.
-
Compute the effective CPI for RISC-V using Figure A.29 and the table above. Average the instruction frequencies of bzip and hmmer to obtain the instruction mix. You may assume that all other...
-
Write a program that reads a number between 1,000 and 999,999 from the user and prints it with a comma separating the thousands. Here is a sample dialog; the user input is in color: Please enter an...
-
What do these loops print? a. for (int i = 1; i <10; i++) { System.out.print(i + "1 "); }
-
Write a program that reads a word, compares the first and second half of the word, and prints first and second half same or first and second half different. If the length of the word is odd, ignore...
-
Tristen Company purchased a five-story office building on January 1, 2022, at a cost of $5,000,000. The building has a residual value of $200,000 and a 30-year life. The straight-line depreciation...
-
Bonus shares can be issued out of revenue reserves. True/False?
-
Murphy Co. is a high-end retailer of fine fashions for men. Murphys inventory balance at the beginning of the year is $300,000, and Murphy purchases $600,000 of goods during the year. Its inventory...
-
Murphy Co. is a high-end retailer of fine fashions for men. Murphys inventory balance at the beginning of the year is $300,000, and Murphy purchases $600,000 of goods during the year. Its inventory...
-
Yang & Min Inc. is a retailer of contemporary furniture. You are told that Yang & Mins ending inventory is $200,000 and its cost of goods sold is $500,000. Yang & Min had $100,000 of inventory at the...
-
Larkspur Company sells discounted shoes to the fashion-oriented consumer. The following schedule relates to the company's inventory for the month of March: Cost Sales March 1 Beginning inventory...
-
What is the role of education in promoting social mobility and reducing inequality, and how can educational systems be reformed to better serve diverse populations while preparing individuals for the...
-
A European call option and put option on a non-dividend paying stock both have a strike price of $51 and an expiration date in 6 months. The put sells for $2.50 and the call sells for $2. The...
Study smarter with the SolutionInn App