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Question - The following information is for Obaapa Ltd's July production: Standards: Material: 3.0 feet per unit @ GH¢4.20 per foot, Labour: 2.5 hours per unit @ GH¢7.50 per hour. Actual: Production: 2,750 units produced during the month, Material: 8,700 feet used; 9,000 feet purchased @ GH¢4.50 per foot, Labor: 7,000 direct labour hours @ GH¢7.90 per hour. Determine the total material cost and total labour cost variance, separating them into their corresponding price and quantity variances. Show all workings clearly.
If accrued salaries were recorded on December 31 with a credit to Salaries Payable, the entry to record payment of these wages on the following January 5 would include:
Rachael and Ray form an equal partnership R&R on January 1, 20X1. Rachael contributes $100,000 in exchange for her one-half interest; Ray contributes land worth $100,000. Rays adjusted basis in the land is $30,000. Which of the following statement..
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Managerial entrenchment occurs when managers gain so much power that they can use the firm to further their own interests rather than the interests.
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