1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
faust18 [17]
2 years ago
14

Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit a

t 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. • Labor: 2,500 hours worked at a total cost of $20,625. The labor rate variance is:
Business
1 answer:
zhannawk [14.2K]2 years ago
3 0

Answer:

Direct labor rate variance= $650 unfavorable

Explanation:

Giving the following information:

Standards for the product are:

Labor: 2 hours per unit at $8 per hour.

During December, the company produced 1,000 units.

Labor: 2,500 hours worked at a total cost of $20,625.

To calculate the labor rate variance, we need to use the following formula:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Actual rate= 20,650/2,500= $8.26

Direct labor rate variance= (8 - 8.26)*2,500

Direct labor rate variance= $650 unfavorable

You might be interested in
What is one example of a planned economy?
Daniel [21]

Answer:

socialist economy

Explanation:

A planned economy is a system where the government or the central authority makes all major economic decisions. The government decides on the type and quantities of goods to produce and for whom to produce. In the planned economy, factors of production belong to the government. Manufacture of goods and services is motivated by service to the community, not profits.

A socialist economy is a good example of a planned economy. Just like in a planned economy, a socialist economy is characterized by heavy government involvement. The state controls the factors of production. Public service is the reason for economic production, while consumers do not have the liberty to choose products.

6 0
3 years ago
company's retained earnings have a financing cost associated with them because retained earnings belong to which of the followin
Masja [62]

Answer:

a. The common stockholders.

Explanation:

A company's retained earnings have a financing cost associated with them because retained earnings belong to the common stockholders.

Retained earnings can be defined as the accumulated profits or net income generated by an organization but are not distributed or given as dividends to the stockholders, rather are reinvested in to the business.

Generally, retained earnings are used to pay off debts, used for capital expenditures and working capitals.

Retained earnings represents the total stockholders' equity reinvested back into the company.

5 0
3 years ago
Blank (deleted) nothing to answer...
Sati [7]

Answer:

.

Explanation:

5 0
3 years ago
You have your choice of two investment accounts. Investment A is a 12-year annuity that features end-of-month $1,900 payments an
Nataly [62]

Answer:

hey wasup how you doing no ok

Explanation:

6 0
2 years ago
T or F #2 ASAP<br> One reason for placing a tariff on imports is to increase imports.
frozen [14]

Answer:

False

hope that helps uhh !!!

6 0
2 years ago
Other questions:
  • In 2005, Anthara Inc. acquired Sathya Inc. for $1,200 million when the fair value of net assets (assets minus liabilities) of Sa
    10·1 answer
  • Bad girls not allowed<br><br>need a good friend<br><br>373 629 9840<br><br>444000​
    7·2 answers
  • Gross domestic product
    13·1 answer
  • A bank has $8,000 in deposits and $6,000 in loans. it has loaned out all it can given the reserve requirement. it follows that t
    6·1 answer
  • The following data are for the two products produced by Tadros Company.Product A Product BDirect materials $15 per unit $24 per
    8·1 answer
  • Which of the following are true?
    6·1 answer
  • As You Like It Inc. customizes its offers to each individual consumer. This practice of tailoring products and marketing program
    5·1 answer
  • The market for diamond rings is closely linked to the market for high-quality diamonds. If a large quantity of high-quality diam
    15·1 answer
  • While doing an online search for a music venue, Darcy ran across a performance of Lady Gaga that featured her hair neatly wrappe
    13·1 answer
  • What term describes a ban or restriction on trade with another country?
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!