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In-s [12.5K]
3 years ago
6

he following labor standards have been established for a particular product: Standard labor-hours per unit of output 9.0 hours S

tandard labor rate $ 15.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 8,100 hours Actual total labor cost $ 119,880 Actual output 800 units What is the labor rate variance for the month? Group of answer choices
Business
1 answer:
Arisa [49]3 years ago
4 0

Answer:

Direct labor rate variance= $2,430 favorable.

Explanation:

Giving the following information:

Standard labor rate $ 15.10 per hour

Actual hours worked 8,100 hours

Actual total labor cost $ 119,880

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= 119,880/8,100= $14.8

Direct labor rate variance= (15.1 - 14.8)*8,100= $2,430 favorable.

<u>It is favorable because the actual rate for direct labor was lower than the estimated rate.</u>

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Because budgeted fixed costs remain the same regardless of production volume, a(n):________ variance occurs when there is a diff
blsea [12.9K]

Answer:

A production volume variance

Explanation:

A production volume variance occurs when there is a significant difference between the actual volume of products manufactured and the budgeted or standard volume of production. Therefore, a production volume variance can be harnessed by businesses in order to measure the production cost of products against the budgeted fixed cost.

The production volume variance can be calculated by difference between actual volume of production and the standard volume of production, multiplied by the overhead rate that have been budgeted.

So, when calculating the production volume variance, if the actual volume of production is lower than the budgeted or standard volume of production, then the production volume variance is not favorable.

7 0
3 years ago
Wendy claims that the right mix of hamburgers and other goods is being produced, but that they are not being produced in the lea
BARSIC [14]

Wendy claims that the right mix of hamburgers and other goods is being produced, but that they are not being produced in the least costly way. Economist assess it in the way of allocative efficiency as well as the productive efficiency.

According to Wendy, allocative efficiency is achieved because the right mix of hamburger is produced, but at the same time  productive efficiency is not achieved because the production is not utilizing cheapest possible means of producing the goods.

Allocative efficiency occurs when  the consumer demand is completely met by the  supply. In the other words, businesses are providing the exact supply which the  consumers want.

Allocative efficiency occurs from the producers side as well as the consumers side. This happens when the demand is fully met, and production is optimized until marginal costs = marginal revenue . It means that no more profits are made.

Productive efficiency occurs when the businesses focuses on producing a good at the lowest possible cost.

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3 0
1 year ago
One effective way to manage credit card debt is to:
sergey [27]

Answer:

C. replace high-interest credit cards with low-interest options.

Explanation:

A credit card provides a secure and convenient way to pay for goods and services even when they do not have money. The credit card gives the user access to instant credit every time they use it. The user does not incur any charges should they pay the amount due before its due date.

Credit card interest rate charges are among the highest in the industry. If the user is late in their payment, the interest fee and other charges accumulate real quick. Shifting to cards with lower interest is one way of managing credit card debts.

7 0
3 years ago
Read 2 more answers
A company's structure should be aligned with:________
diamong [38]

A company's structure should be aligned with its strategy.

Aligning a company's structure to its approach is critical for strategy execution success. The organization structure needs to assist the strategy and its execution. while possible, management must make sure that the company structure is obvious, decentralized, and formalized.

A company's structure is about converting its organizational structure to benefit a competitive part in a patron fashion. This new client conduct could be very profitable, and the agency sees the sales that may stem from it. Entrepreneurial is not a diagnosed form of organizational structure. Intrapreneurs are personnel who work inside a business in entrepreneurial ability, developing progressive new merchandise and procedures for the organization.

A traditional line organizational shape is simply the location to start for most groups, especially the smaller ones that don't always comprise a considerable range of departments or require the main variety of hyperlinks within the chain of conversation.

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3 0
2 years ago
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budg
Sati [7]

Answer:

Bramble Corporation

The difference between cash receipts and cash disbursements for December would be:

=  $71,000

Explanation:

a) Data and Calculations:

Balance Sheet October 31

Assets Cash                            $ 21,400

Accounts receivable                  71,400

Merchandise inventory           156,800

Property, plant and equipment,

net of $573,400 accumulated

depreciation                        1,095,400

Total assets                      $ 1,345,000

Liabilities and Stockholders' Equity

Accounts payable              $ 255,400

Common stock                      821,400

Retained earnings                268,200

Total liabilities and

stockholders' equity      $ 1,345,000

                                     November       December      January

Budgeted sales            $320,000        $300,000   $290,000

Cash Collections:

55% month of sale         176,000            165,000      159,500

45% following month       71,400             144,000      135,000

Total collections          $247,400         $309,000   $294,500

Cost of goods sold     $224,000         $210,000    $203,000

=  (70% of Sales for the month)

Ending Inventory            147,000            142,100

Goods available           $371,000        $352,000

Beginning Inventory      156,800            147,000       142,100

Purchases                    $214,200        $205,000

Cash disbursements:

Payment to suppliers   255,400           214,200      205,000

Other monthly exp.        23,800             23,800

Total disbursements $279,200         $238,000

Comparison of Cash receipts with Cash disbursements:

                                   November       December

Cash receipts             $247,400         $309,000

Cash disbursements $279,200         $238,000

Difference                    ($31,800)           $71,000

8 0
3 years ago
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