Answer: Debit to Factory Overhead.
Credit to Factory Utilities Payable.
Explanation:Utilities are part of actual overhead costs. It is a necessary cost in order to operate the factory, but is not DIRECT Labor or DIRECT Material.
Answer:
Direct labor rate variance= $12,575 unfavorable
Explanation:
Giving the following information:
Last year, the company’s direct labor payroll totaled $352,100 for 50,300 direct labor hours. The standard wage rate is $6.75 per direct labor hour.
To calculate the direct labor rate variance, we need to use the following formula:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Actual rate= 352,100/50,300= $7 per hour
Direct labor rate variance= (6.75 - 7)*50,300
Direct labor rate variance= $12,575 unfavorable
Answer:
0.004%
Explanation:
The desired ROI per paid of shoes can be calculated using the following formula:
ROI per pair of shoes = ROI / Number of units sold
By putting values we have:
ROI per pair of shoes = 20% / 5000 pairs = 0.004%
This is the return that every shoe pair must achieve to achieve 20% ROI on aggregating.
The average cost is known as unit cost. It is equal to total cost divided by the number of goods produced. If Average variable costs are increasing while average total costs are decreasing, then marginal cost must lie between average variable and average total costs.
- The Marginal cost of an item is simply known as the increase in cost that accompanies a unit increase in output.
The relationship that exist between Average total costs and Marginal cost is that:
- When there is a decrease in average cost, the marginal cost is then less than the average cost.
- When the average cost increases, the marginal cost will then be greater than the average cost.
- When the average cost remains unchanged (is at a minimum or maximum), the marginal cost is equals the average cost.
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Answer: Internal benchmarking
Explanation:
Benchmarking on its own is a process that companies use to improve and it works by them comparing certain aspects of their business to others to see if they can do better.
This process can be internal as well and the scenario described is one such example. When employees compare their cases to see how to handle it better, they are comparing aspects of the business in order to grow the business so this falls under benchmarking.