The City of Grand Marais' fiscal year ends on June 30. Grand Marais uses encumbrance accounting. On May 6, a purchase order was approved and issued for supplies in the amount of $6,000. Grand Marais received these supplies on June 2, and the $6,000 invoice was approved for payment. What General Fund journal entry should Grand Marais make on May 6, to record the approved purchase order

If you were running a company, what are at least two things you could do to improve its productivity.

Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget. the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead. a total of 119,300 units, using 478,000 direct labor hours, were produced during the year. actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.

Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.