The Baldwin's workforce complement will grow by 20% (rounded to the nearest person) next year. Ignoring downsizing from automati

The mean is represented as μ = 58 and the standard deviation σ = 5. With given values of x₁ = 48.5 and x₂ = 60, we compute t-values through the formula t = (x₂ - μ) / σ, which leads to t = (60 - 58) / 5 = 0.4, yielding an area of 0.1554 from the normal distribution curve. Similarly, for the lower value, t is computed as (μ - x₁)/ σ, resulting in t = (58 - 48.5) / 5 = 1.9 with an area of 0.4713. Totaling these, the total area under the curve is 0.4713 + 0.1554 equating to 0.6267 or 62.67%.

$374,900

If employees report him for fraud, he could face legal repercussions.

Response:

Labor Efficiency Variance: $2,090 Favorable

Clarification:

Based on the information provided, the calculation for labor efficiency variance for July is outlined below:-

Labor efficiency variance = Standard rate × (Standard hours - Actual hours)

= $11 × ((0.7 × 3,000) - 1,910)

= $11 × 190

= $2,090 Favorable

Hence, to compute the labor efficiency variance for July, we adhered to the aforementioned formula.

Response:

Natsu Company

1. Journal Adjustments as of October 31:

a. Expense for Supplies $54,370

   Inventory for Supplies $54,370

This entry records the expenses incurred for supplies throughout the period.

b. Expense for Insurance $4,730

   Prepaid Insurance $4,730

This entry captures the insurance expenses for the period in question.

c. Wages Expense $5,000

  Wages Payable $5,000

This entry is to acknowledge the wages that have not been paid for the period.

d. Depreciation on Building $5,400

   Accumulated Depreciation $5,400

This reflects depreciation expense for the current year.

e. Rent Receivable $1,000

   Rent Revenue $1,000

This entry documents the revenue from rent for the month.

f. Unearned Rent $1,450

  Rent Revenue $1,450

This entry is for recognizing rent revenue for two months.

2. General Journal Entries for cash transactions in November 2017 relating to c and e:

c:

Date General Journal                         Debit      Credit

Nov. 7      Salaries Payable   $5,000

                Cash Account                            $5,000

This reflects the disbursement of wages for the final week of October.

e:

Date General Journal    Debit      Credit

Nov. 15    Cash Account      $2,000

               Rent Revenue                     $1,000

               Rent Receivable                   1,000

This entry captures the collection of rent for both October and November.

Clarification:

a) Data and Calculations:

1. Supplies

Beginning Balance         $600

Purchases       54,570

Supplies Expense   54,370*

Ending Balance         $800

2. Policy  Purchase Date   Months of         Cost

                                               Coverage        

         A        April 1, 2016              24          $6,000

         B        April 1, 2017               36            7,200

         C        August 1, 2017           12            1,320

3. Insurance Expense for 2017:

Policy A Nov 2016 to October 2017  $3,000 ($6,000 *12/24)

Policy B April 2017 to October 2017 $1,400 ($7,200 * 7/36)

Policy C Aug. 1 2017 to October 2017 $330 ($1,320 * 3/12)

Total Insurance Expense = $4,730