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Bezzdna [24]
3 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]3 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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Onofkp411 Corporation has a time contraint on one of its special machines. The company makes three products that use this machin
marta [7]

Answer: $7.20 per minute

Explanation:

Find out the profitability of each product as Contribution Margin per minute.

Magnifico

Contribution margin per minute = (Selling price - Variable cost) / minutes on the constraint

= (335.18 - 259.26) / 7.5

= $10.12 per minute

Bellissimo

= (228.46 - 173.08) / 4.3

= $12.88 per minute

Lovely

= (199.21 - 159.61) / 5.5

= $7.20 per minute

Their least profitable product is $7.20 per minute.

The machine does not have sufficient time to satisfy the needs of Lovely so they will have to pay more to acquire more of the resource but they should not pay anything more than $7.20 per minute as this is their contribution margin for the product. and anything more would result in a loss.

<em>Options are most probably for another variant of the question. </em>

6 0
3 years ago
In making decisions about what to consume, a person's goal is toA) allocate her limited income among all the products she wishes
elena55 [62]

Answer: Option (C) is correct.

Explanation:

While making decisions about the consumption, a person wishes to maximize their marginal utility drive from every unit rather than total utility.

Marginal utility refers to the satisfaction that a consumer can get from the consumption of one additional unit of goods and services.

So, consumer wants to maximize marginal utility from the products that he/she is buying with the limited level of income. They want to utilize their limited income in a best possible manner.

7 0
3 years ago
In regard to successor liability, courts applying the __________ look for constancy between the buyer and seller to determine wh
Sliva [168]

Answer:

Community-of-enterprise approach is the correct answer.

Explanation:

6 0
3 years ago
A city will serve as a conduit for federal grant money, which is sent to the city by the state government and must be remitted t
Eduardwww [97]

Answer:

(C) Pass-through grant

Explanation:

A pass-through grant occurs when a recipient of a grant is allowed by the government to provide funding to other recipients. Funds are received and passed along to other recipients.

The party that receives funding from the pass-through entity is called the subrecipient.

This usually occurs when government lacks the structure to effectively push grant initiatives.

In this instance when states provide funds to the city for onward delivery to not for profit organisations, the city is acting as a pass-through entity.

4 0
3 years ago
On January 1, 2017, Alexis Company purchased a delivery truck for $60,000. They estimated the useful life of the truck to be 6 y
sweet [91]

Answer:

$14,800

Explanation:

The computation of the selling price of the truck is shown below:

The depreciation expense is

= ($60,000 - $12,000) ÷ 6 years

= $8,000

Now the depreciation for 5.5 years is

= $8,000 × 5.5 years

= $44,000

Now book value is

= $60,000 - $44,000

= $16,000

ANd, finally the selling price of the truck is

= $16,000 - $1,200

= $14,800

6 0
3 years ago
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