They should reinforce the desired change in the employees.
The brainest answer would be appreciated.
Answer:
$2,400 U
Explanation:
Labor efficiency variance is a financial metric that assesses a company’s ability to efficiently use labor per the expectations. The variance is worked out as the difference between the actual labor hours utilized and the standard amount that ought to have been used, multiplied by the standard labor rate.
In Clark Manufacturing:
It is given that:
Number of hours required to produce one product = 2 hours
Standard Labor rate(SLR) per hour = $12
Actual Labor rate(ALR) per hour = $12.20
Units of products produced = 2000
Number of hours required(SLH) to produce 2000 units = 4,000 hours
Actual Labor Hours(ALH) used =4,200 hours
Labor Efficiency Variance =(ALH - SLH) *SLR
= (4200-4000) *12
200*12 = $2,400 U
U means unfavorable. This variance is unfavorable because the labor cost exceeded the standard or budgeted labor cost.
Material requirements plus an allowance for normal inefficiencies are added together to determine the Quantity Standard of a direct material per unit of output.
<h3>What is
direct material ?</h3>
The cost of direct materials, which may be easily recognised with the unit of production. In the manufacture of light bulbs, for example, the cost of glass is a direct material cost. Material was required as the primary component in the creation of items or goods.
Direct material refers to the physical components of a product. A baker's direct materials, for example, include flour, eggs, yeast, sugar, oil, and water. The direct materials concept is utilised in cost accounting, where this expense is categorised independently in various types of financial analysis.
Direct materials are those that are essential to the manufacturing process and can be traced back to the specific product manufactured.
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Using a perpetual inventory system, the entry to record the return of merchandise purchased on account includes 4)Merchandise Inventory.
Product vending is the practice of intentionally promoting, showing, and promoting the goods in your keep. A huge part of this is visual merchandising—the process of making plans, designing, and showing merchandise to focus on their capabilities and advantages.
Merchandising is the exercise and procedure of displaying and selling merchandise to clients. Whether or not digital or in-save, stores use vending to persuade clients' motives and reach their sales goals.
Vending approach selling merchandise to retail customers. Merchandisers, also known as retailers, buy merchandise from wholesalers. Manufacturers, upload a markup or gross earnings quantity and sell the products to customers at a better rate than what they paid.
Disclaimer: The question is incomplete. Please read below to find the missing content.
Question: Under the perpetual inventory system, all purchases of merchandise are debited to the account
1)Cost of Merchandise Available for Sale
2)Cost of Merchandise Sold
3)Purchases
4)Merchandise Inventory
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Answer:
$20000 gain for John Corporation and $10000 loss for Bass Corporation.
Explanation:
John Corporation gain(loss) = FMV of property - Liability assumed - Stock basis
= 55000-10000-25000
= 20000
Bass Corporation gain/loss = 55000-65000
= - 10000
Therefore, $20000 gain for John Corporation and $10000 loss for Bass Corporation.
