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Bezzdna [24]
4 years ago
13

EA8. LO 8.3Queen Industries uses a standard costing system in the manufacturing of its single product. It requires 2 hours of la

bor to produce 1 unit of final product. In February, Queen Industries produced 12,000 units. The standard cost for labor allowed for the output was $90,000, and there was an unfavorable direct labor time variance of $5,520. What was the standard cost per hour
Business
1 answer:
kondaur [170]4 years ago
7 0

Answer:

Standard cost per hour= $3.75 per hour

Explanation:

Giving the following information:

It requires 2 hours of labor to produce 1 unit of final product. In February, Queen Industries produced 12,000 units. The standard cost for labor allowed for the output was $90,000.

We need to determine the standard cost per hour.

Number of hours= 12,000*24,000

Standard cost per hour= 90,000/24,000= $3.75 per hour

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The practice of comparing a company with its prior performance or with best practices from other companies is called A. benchmar
KatRina [158]

Answer:

A. benchmarking

Explanation:

In companies; benchmarking is the good practice as it compares the company's business processes and performance metrics to industry. There are four types of benchmarking which are internal, competitive, functional and generic. Benchmarking always facilitate to seek the best practices of your competitor and learn it to implement or take strategic decisions. Based on the data and information which is derived from benchmarking; company can modified its strategies towards the achievement of objective to excel among competitors.

3 0
3 years ago
If a bank experiences a deposit outflow of​ $50 million with a required reserve ratio on deposits of​ 10%, which balance sheetLO
lilavasa [31]

Answer:

Balance Sheet B because the excess reserves are adequate to cover the deposit outflow without the bank needing to alter its balance sheet.

Explanation:

Balance Sheet B because the excess reserves are adequate to cover the deposit outflow without the bank needing to alter its balance sheet and $50 million deposit outflow means that reserves reduced by $50 million to $25 million. Since required reserves are $45 million (10% of the $450 million of deposits), which means the bank needs to acquire $20 million of reserves and the reserve can be obtain by either calling in or selling off $20 million of loans, borrowing $20 million in discount loans from the Fed, borrowing $20 million from other banks or corporations, selling $20 million of securities, or the combination of all.

5 0
4 years ago
Selected Information from Balance Sheets (As of Year End for Years 0 and 1)
bonufazy [111]

Answer:

Cash flow from operating activities = $1,000

Explanation:

                              Statement of Cash flow

<u>Cash from Operating activities</u>

Net Income                                         $3,000

+ Depreciation                                    $2,000

+ Loss from sales of PPE                    $1,000

<u><em>Adjustment on Working capital</em></u>

Increase in accounts receivables     -$4,000

(1,000 - 5,000)

Decrease in Inventory                        $1,000

(5,000 - 4,000)

Decrease in Account payable           -$1,000

(4,000 - 5,000)

Decrease in unearned revenue        <u>-$1,000</u>

(1,000 - 2,000)

Cash flow from operating activities <u>$1,000</u>

7 0
4 years ago
Which of the following statements about the percentage of coverage of a health insurance policy is TRUE?
Katarina [22]

The true statements here are:

A. and B.

Explanation:

In a policy that is for medical or in general converge of insurance it is usual business practice to get the percentage of coverage be the total amount of a medical expense that your insurance will pay before your deductible is met.

This means that the amount that is agreeable to pay by the insurance company is paid first and then the amount you put in is used.

With 80/20 plan of insurance, your insurance is deemed to be paying 80% and you pay 20%.

This plan relies on the fact that there is usually no need for the use of that much money from the side of the firm.

5 0
3 years ago
Which of the following is true regarding the high-tech industry today?
emmasim [6.3K]

Answer:

businesses are often located near major universities or research institutions

Explanation:

High technology, or high tech (sometimes also called frontier technology or frontier tech), is technology that is at the cutting edge: the most advanced technology available.

7 0
4 years ago
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