(a) Given that Pharoah Sports uses direct labor dollars as its application base, what is the company's predetermined overhead rate? (Round answer to O decimal places, e.g. 15%.) Predetermined overhead rate %

Q: Describe rules-based accounting standards.

A: Financial accounting is the process of recording, summarizing, and reporting all the transactions in…

Q: advantages of financial accounting

A: Answer are as follows

Q: ACCOUNTING THEORY DEFINED AND EXPLAINED

A: Introduction: Accounting is maintaining records of financial events and transactions that occur in a…

Q: Describe significant accounting policies.

A: Definition: Accounting policies: Accounting policies are the specific principles and rules which…

Q: What is accounting base on

A: The term that is related to the recording of the business transactions, summarizing the data, and…

Q: Define financial statements.

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: What is accounting own words

A: Introduction:- Accounting may be defined as the process of recording and summarizing business and…

Q: Describe the goals of accounting standards.

A: Accounting standards are authoritative standards for financial reporting and are the primary source…

Q: nciples of accounting

A: Principles of accounting are the rules and regulations that must be pursued by an organization when…

Q: Understanding of accounting and its importance

A: Accounting is the process of recording, analyzing and summarizing the financial statement . It is…

Q: explain the purpose and importance of accounting

A: 1. The purpose of Accounting :    The purpose of accounting is to gather and report on financial…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.