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3 years ago

Calculate the material and labor variances.

Business

1 answer:

Mnenie [13.5K]3 years ago

5 0

Answer:

Direct material Price variance = $207,000 Favorable

Direct material quantity variance = -$72,500 Unfavorable

Direct labor Rate variance = -$7,350 Unfavorable

Direct efficiency variance = $5,880 Favorable

Explanation:

The computation of material and labor variances is shown below:-

Direct material Price variance = (Standard rate - actual rate) × Actual quantity

= ($1.45 - $1.30) × 1,380,000

= $0.15 × 1,380,000

= $207,000 Favorable

Direct material quantity variance = (Standard quantity - actual quantity) × standard rate

= ((190,000 × 7) - 1,380,000) × $1.45

= (1,330,000 - 1,380,000) × $1.45

= -50,000 × $1.45

= -$72,500 Unfavorable

Direct labor Rate variance = (Standard rate - Actual rate) × Actual hour

= ($14.00 - $15.50) × 4,900

= -$1.5 × 4,900

= -$7,350 Unfavorable

Direct efficiency variance = (Standard hours - actual hours) × Standard rate

= ((190,000 × 0.028) - 4,900) × $14.00

= (5,320 - 4,900) × $14.00

= 420 × $14.00

= $5,880 Favorable

The favorable variance is the variance in which the standard is more than the actual one and the unfavorable variance is the variance in which the standard is less than the actual one

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Unions contribute to

Len [333]

Answer:

The correct answer is D: neither frictional nor structural unemployment

Explanation:

Structural unemployment is a form of unemployment where, at a given wage, the quantity of labor supplied exceeds the quantity of labor demanded because there is a fundamental mismatch between the number of people who want to work and the number of available jobs. It is generally considered to be one of the “permanent” types of unemployment, where improvement if possible, will only occur in the long run.

Structural unemployment is a longer-lasting form of unemployment caused by fundamental shifts in an economy and exacerbated by extraneous factors such as technology, competition, and government policy. The unemployed workers may lack the skills needed for the jobs, or they may not live in the part of the country or world where the jobs are available. Structural unemployment can last for decades and may need radical change to redress the situation.

There is not a direct link between unions and structural unemployment. The main causes are economy shifts, lack of preparation, competiton (for example, factories moving overseas), government policy, technology shifts, etc.

Frictional unemployment is the time period between jobs when a worker is searching for or transitioning from one job to another. It can be voluntary based on the circumstances of the unemployed individual. Frictional unemployment exists because both jobs and workers are heterogeneous, and a mismatch can result between the characteristics of supply and demand. Such a mismatch can be related to skills, payment, work-time, location, seasonal industries, attitude, taste, and a multitude of other factors.

There is always at least some frictional unemployment in an economy. Economists accept that some frictional unemployment is okay because both potential workers and employers take some time to find the best employee-position match.

There is no direct contribution that unios made to generate or increase frictional unemployment. It causes are found in the description above.

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3 years ago

Jason Day Company had bonds outstanding with a maturity value of $300,000. On April 30, 2020, when these bonds had an unamortize

Andru [333]

Answer: Loss of $22,000

Explanation:

Gain (loss) = Net Carrying Value of Bonds recalled - Price bond called at

Net Carrying Value of Bonds

= Par value - Unamortized discount

= 300,000 - 10,000

= $290,000

Gain (loss) = 290,000 - (300,000 * 104)

= ($22,000)

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4 years ago

In a market system, which component conveys information about what is relatively scarce and what is relatively abundant?

denis23 [38]

The answer is price. The price of a good conveys about its relative scarcity or abundancy. If the price is high, the good is scare meaning you can gain money by selling extra of it, and you can save money by buying a lesser amount of it. If you act according to your self-interest, selling more and buying less of that costly good, the scarcity of that good will be toned-down. If the price of a good is low, you can exhilarated to do the contrary, thus removing any excess of the good in the market.

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3 years ago

E-Eyes has a new issue of preferred stock it calls 20/20 preferred. The stock will pay a $20 dividend per year, but the first di

Aloiza [94]

The value of current stock price is equal to $57.93

Explanation:

Given dividend = $20 per year

The calculation of current stock price is as follows:

The Stock price at the beginning of 20th year is equal to = $20 divided by 8 percent = 250

Current stock price ( present value ) = $\mathrm{FV} /(1+\mathrm{r})^{\wedge} \mathrm{n}$

$=\$ 250 /(1+0.08) \wedge 19$

After calculating, we get, 57.92801

Therefore, the value of current stock price is equal to $57.93 (rounded off to 2 decimal places).

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True/False

Elanso [62]

The answer is FALSE.

Relationship marketing is much important compared to maintaining databases of customer's information for mass marketing. A good relationship to clients can be a good promotion tool and technique compared to sending them promotional ads via email, SMS and social media sites. A word of a mouth is more powerful and personal compared to digital media. If the reputation of the company is good to some clients, then it will create good impression to other potential clients and to the people they know. If the company has a good impression, good attitude employees with good products, it will surely help to the company's revenue.

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