Match Each Transaction with the Type of Entry That Will

question 191

Multiple Choice

Match each transaction with the type of entry that will be required at April 30,the company's year-end.
-The company uses $1,600 worth of fertilizer from its stock of supplies.

• A)Closing entry
• B)Deferral adjusting entry
• C)Accrual adjusting entry

---

Definitions:

Fime Corporation

appears to be a specific company name, and without specific context, it is not possible to provide a definition beyond being a potentially named corporation.

Standard Hours Allowed

The number of labor hours that should have been worked according to budgeted productivity levels for the actual level of production achieved.

Labor Rate Variance

The difference between the actual hourly wage paid to workers and the standard or expected wage rate.

Standard Labor Rate

The predetermined hourly wage rate used in cost accounting to calculate labor costs.