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IgorC [24]
1 year ago
9

Consumers must make choices about what to buy and what to forgo to fulfill wants because?

Business
1 answer:
jarptica [38.1K]1 year ago
5 0

Answer:

Resources are limited

Explanation:

Consumers must make choices about what to buy and what to forgo because resources are limited.

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Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October are available: Qu
german

Answer:

A. Direct Labor Rate variance -$6250 Favorable

Direct labor time variance $4800 Unfavorable

Total Direct Labor Cost Variance $-1450 Favorable

B. Dr Work In Process $116,650

Explanation:

A.

Calculation to determine Direct Labor Rate variance using this formula

Direct Labor Rate variance= (actual hours* actual rate)- (actual hours * standard rate)

Let plug in the formula

Direct Labor Rate variance=( 5000 *22.75) - (5000*24)

Direct Labor Rate variance= $113750- 120,000= Direct Labor Rate variance-6250 Favorable

Calculation to determine Direct labor time variance using this formula

Direct labor time variance= (Actual hours* Standard rate)- (Standard hours * Standard rate)

Let plug in the formula

Direct labor time variance= (5000 * 24) -(4800 * 24)

Direct labor time variance= 120,000-115200

Direct labor time variance= 4800 Unfavorable

Calculation to determine Total Direct Labor Cost Variance using this formula

Total Direct Labor Cost Variance= Direct Labor Rate variance + Direct labor time variance

Let plug in the formula

Total Direct Labor Cost Variance= -6250 Favorable + 4800 Unfavorable

Total Direct Labor Cost Variance= -1450 Favorable

b. Preparation of the journal entry to determine How much direct labor should be debited to Work in Process

Dr Work In Process $116,650

Cr Direct Labor Cost Variance $ 1,450

Cr Payroll $ 115,200

Therefore the amount of Direct Labor to be Debited to Work In Process is $116,650

7 0
3 years ago
As of January 1 of the current year, Kane owned all the 100 issued shares of Manning Corp., a calendar
aliina [53]

Answer:

A) $56,750

Explanation:

Since Manning's ownership changed during the year, it must allocate income differently for the first 40 days than the remaining 325.

Kane should report the following income:

  • 100% income form Manning x 40/365 = $73,000 x 40/365 = $8,000
  • 75% income from Manning x 325/365 = $73,000 x 75% x 325/365 = $48,750
  • total income allocated to Kane = $8,000 + $48,750 = $56,750
5 0
3 years ago
Joana volunteers to deliver a last-minute presentation on behalf of her team. Which quality is Joana demonstrating?
Ymorist [56]
Joana is demonstrating responsibility
4 0
4 years ago
Read 2 more answers
Hadley, Inc. manufactures a product that uses $18 in direct materials and $5 in direct labor per unit. Under the traditional cos
Rama09 [41]

Answer:

Total Manufacturing cost per unit is $53

Explanation:

Manufacturing cost is the cost used to manufacture a product, both direct and indirect cost incurred in manufacturing process are included. It is the total value of material cost, labor cost and overhead cost.

Direct Material Cost = $18

Direct Labor cost  = $5 per hour

Manufacturing overhead applied = $13 per unit

Total Activity rate = $30

Activity based costing is the method of allocation of overhead to the products / department / projects on the basis of uses of activity by each one.As we know that calculating an activity rate which is similar to predetermined overhead rate.

Total Manufacturing Cost = Direct material cost + Direct Labor cost + Manufacturing overhead cost

As we know that calculating an activity rate which is similar to predetermined overhead rate. so the activity rate will be used for overhead expense.

Total Manufacturing Cost = $18 + $5 + $30 = $53 per unit

6 0
3 years ago
· Hope's contribution to her RETIREMENT plan...
Verizon [17]

Based on Hope's check, her contribution to her RETIREMENT plan b. is pre-tax and therefore not included in federal income taxes.

<h3>What does the check say?</h3>

The check notes that Hope's retirement contribution is not included in her federal taxable income.

This means that the contribution is paid pre-tax and will not be liable for federal income taxes. She will most probably pay taxes on the retirement fund when she withdraws from it.

Find out more on retirement contributions at brainly.com/question/6806179.

3 0
2 years ago
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