Use the Following Information for Questions

question 42

Multiple Choice

Use the following information for questions
Henry Co.assigned $400,000 of accounts receivable to Easy Finance Co.as security for a loan of $335,000.Easy charged a 2% commission on the amount of the loan; the interest rate on the note was 10%.During the first month, Henry collected $110,000 on assigned accounts after deducting $380 of discounts.Henry accepted returns worth $1,350 and wrote off assigned accounts totaling $2,980.
-The amount of cash Henry received from Easy at the time of the transfer was

• A)$301,500.
• B)$327,000.
• C)$328,300.
• D)$335,000.

Analyze the impact of external factors on standard cost variances.

Comprehend the formulae and calculation methods for standard cost variances.

Recognize scenarios appropriate for the application of labor and overhead variances.

Understand how to calculate variances related to direct materials, direct labor, and factory overhead.

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Definitions:

Conforms

Adjusts one's behavior or thinking to match with a group standard or expectation.

Behaviour

Actions, reactions, or conduct of an organism, usually in response to external or internal stimuli.

Conformity

The act of matching attitudes, beliefs, and behaviors to what is considered normal or acceptable in a specific social context.

Social Pressure

The influence that is exerted on individuals or groups by others, often leading to conformity in behavior or attitudes.