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lbvjy [14]
3 years ago
7

Zanny Electronics Corporation uses a standard cost system for the production of its water ski radios. The direct labor standard

for each radio is 0.9 hours. The standard direct labor cost per hour is $7.20. During the month of August, Zanny's water ski radio production used 6,600 direct labor-hours at a total direct labor cost of $48,708. This resulted in production of 6,900 water ski radios for August. What is Zanny's labor rate variance for August?
Business
1 answer:
AlexFokin [52]3 years ago
6 0

Answer:

Labor Rate Variance = - $1,188 Unfavorable

Explanation:

Provided labor hours for each radio = 0.9

Standard labor cost per hour = $7.20

Actual labor cost = $48,708

Actual labor hours = 6,600

Actual labor rate = $48,708/6,600 = $7.38

Labor Rate Variance = (Standard Rate - Actual Rate) \times Actual Hours

= ($7.20 - $7.38) \times 6,600 =<em><u> - $1,188 Unfavorable</u></em>

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creativ13 [48]

Answer: Loss leader pricing

Explanation:

Loss leader pricing is a pricing strategy that involves fixing the price of a product well below its cost or market price to attract a new set of customers. In most cases, the "loss" in such products is shifted to another product to cushion its effect. The grocery store is selling milk at $1.50 lower than its market cost by employing loss leader pricing strategy to its business model.

7 0
3 years ago
Read 2 more answers
Which is a requirement for an acceptance?
Effectus [21]

Answer:

Ohhh, this is business related. The requirements for an acceptance, in economics/business, are that both people in the agreement must do what they requested, and the offer must be made with the intent to follow through on the agreement. You can look at Google for a more in depth explanation, but this should help. :)

6 0
3 years ago
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flo
iragen [17]

Answer:

Flows Added

Oct. 4: Proceeds from Sale of fixed asset $151,000

Oct. 4: Gain on sale of fixed asset <em> </em>$22,000

Flows Deducted

Mar. 12: Purchase of fixed asset $274,000

Explanation:

The Cash flow statement is prepared under the following headings :

  1. Cash flow from operating activities
  2. Cash flow from investing activities
  3. Cash flow from financing activities

Therefore form the transactions we need to establish what amount fall in which category.

Here is an extract of the Cash flow statement based on the given data

Cash flow from Operating Activities

<em>Adjustment to non-cash items </em>

Gain on sale of asset<em> </em>($151,000 - $129,000) <em>    </em>$22,000

Cash flow from Investing Activities

Purchase of Asset                                             ($274,000)

Proceeds from sale of Asset                              $151,000

Cash flow from Financing Activities

8 0
3 years ago
On January 1, 2018, equity account balances are as follows: Preferred Stock $ 500,000 Common Stock 1,000,000 Paid-In Capital in
Ludmilka [50]

Answer:

a. debit to Paid-In Capital From Treasury Stock of $155,000

Explanation:

Treasury Stock purchase 25,000 shares = $762,500

Per share value = $762,500/25,000 shares

Per share value = $30.5

Selling price of 10,000 treasury stock = $15 × 10,000 = $150,000

Purchase price of 10,000 treasury stock = $30.5 × 10,000 = $305,000

The deference between sales and purchase of treasury stock = $155,000

Therefore, option A is the answer because paid-In Capital From Treasury Stock becomes a debit due to selling the stock in low price.

4 0
3 years ago
On January 1, 2012, Fei Corp. issued a 3-year, 5% coupon, $100,000 face value bond. The bond was priced at an effective interest
xz_007 [3.2K]

Answer:

c. $7,418

Explanation:

Calculation to determine What was Fei’s Interest Expense on the bond during fiscal year 2012

Using this formula

Interest Expense =Interest payable+Amortization of bonds discount interest expense

Let plug in the morning

Interest Expense=(5%*100,000)+$2,418

Interest Expense=$5,000+$2,418

Interest Expense=$7,418

Therefore Fei’s Interest Expense on the bond during fiscal year 2012 is $7,418

3 0
3 years ago
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