Zimbalist Corporation Reports a Decrease in Salaries Payable of $3000

question 1

Multiple Choice

Zimbalist Corporation reports a decrease in salaries payable of $3000.If salaries expense totaled $189,000 for the year,the cash paid to employees is:

• A)$3000.
• B)$186,000.
• C)$189,000.
• D)$192,000.

Calculate the velocity of money given the money supply, money demand, and GDP.

Analyze the effect of central banks' monetary policies on the economy during recession periods.

Identify the effects of shifts in the money supply curve on equilibrium value, price levels, and money demand.

Understand the concept of real value of money and how it changes with prices.

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Definitions:

Variable Overhead Efficiency Variance

The difference between the actual level of activity (direct labor-hours, machine-hours, or some other base) and the standard activity allowed, multiplied by the variable part of the predetermined overhead rate.

Direct Labour Hours

The total hours worked by employees directly involved in producing goods or delivering services, used to allocate labor costs accurately.

Standard Hours Allowed

The time that should have been taken to complete the period’s output. It is computed by multiplying the actual number of units produced by the standard hours per unit.

Labour Rate Variance

The difference between the actual cost of labour per hour and the standard cost that was expected, multiplied by the total hours worked.