Answer:
C) $88,000
Explanation:
A period cost refers to expenses that cannot be capitalized through inventory or other assets.
Under the variable costing method, fixed costs are classified as period costs.
Fixed costs:
Fixed manufacturing overhead: $60,000
Fixed selling and administrative expense: $28,000
The Emerald Card log sheets or scanned images need to be retained for the current tax season plus:
A.) Three years
B.) Two years
C.) Five years
D.) Seven years
E.) None of the above
Answer:
The retention time required is three years beyond the current tax season for Emerald Card log sheets or scanned images.
A.) Three years
Explanation:
The Emerald Advance application was rolled out on November 21 allowing customers to apply at any H&R Block tax office participating in the program. Accepted applicants can receive an unsecured credit limit ranging from $350 to $1,000 until the repayment date on February 15.
The Emerald Card features a substantial daily ATM withdrawal limit of $3,000. Compared to most cards that restrict daily ATM access to under $1,000, the Emerald's cash load cap is somewhat lower at $1,000. If payroll is submitted two business days before the check date, direct deposits will be accessible to the receiving bank by 5 PM PT on the check date.
In instances when the check date occurs on a non-banking day, direct deposits will be processed the next banking day.
Answer: D I hope this clarifies things too:)
Explanation:
$A. $900 unfavorable. To calculate the total overhead variance: Total overhead variance = Overhead applied - Actual overhead. Overhead applied amounts to the standard hours multiplied by the overhead application rate, resulting in 3,000 hours x $8 = $24,000. Actual overhead combines variable and fixed overhead, totaling $15,800 + $9,100 = $24,900. Thus, the overhead variance is $24,000 - $24,900, which yields an unfavorable variance of $900 because the actual overhead exceeds the applied overhead.
