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Leto [7]
3 years ago
14

The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 2900 units, the actual direct

labor cost was $81600 for 5100 direct labor hours worked, the total direct labor variance is
Business
1 answer:
pashok25 [27]3 years ago
4 0

Answer:

$5400 Favorable

Explanation:

Standard 2 hour at $15 per hour

Standard hours 2 hour per unit * 2900 units = 5800 hours

Total Standard cost = 5800 hours * $15 per hour =  $87,000

Actual hours = 5100

Actual cost = $81600 / 5100 hours = $16 per hour

Variance = Standard - Actual

Labor hour Variance Favorable = 700 hours (5800 hours - 5100 hours)

Total Labor variance = $5400 ($87,000 - $81,600)

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Often consumers base their perception of price on what they perceive to be the customary or ________.
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Based on other stores, and what their prices are too
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Assume that Jack and Hal and Sophia enter into an agreement for the sale of the restaurant. Hal and Sophia get a loan from the F
QveST [7]

Answer:

The best answer would be C. Fourth National Bank made an assignment.

Explanation:

The Fourth National Bank made an allocation of the loan as it was belonging to the Bank of North America stating that they got a loan.

6 0
3 years ago
What type of business contracts with physicians to handle their claims and/or account receivable
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Centralized billing office
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3 years ago
Gabriel Company views share buybacks as treasury stock. In its first treasury stock transaction, Gabriel purchased treasury stoc
denis23 [38]

Answer:

b. decrease no effect

Explanation:

When the treasury stock is repurchased and at a premium. That is the price more than the par value, the excess is debited to the additional paid in capital account as this is the account used to fund the additional amount required to pay the differential.

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Total paid in capital will decrease

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Hope that helps.

5 0
3 years ago
Archer Construction Company began work on a $420,000 construction contract in 2017. During 2017, Archer incurred costs of $278,0
zheka24 [161]

Answer:

This a loss making contract of $33,000

Explanation:

Under I.A.S 11, The following steps are followed

<em>Step 1 - Determine Expected Outcome of the Contract </em>

Project Value - 420,000

Cost to date -  (278,000)

Cost to complete - (175,000)

Outcome of Contract is Loss of $33,000

<em>Step 2 - Determine the amounts to be recognized in Income Statement for Profit, Revenue and Cost .</em>

Cost to date -  278,000

Contract Loss  (33,000)

Revenue (Balancing Amount = $245,000

<u>Journal Entries</u>

Dr  Cost expended to date - 278,000

Cr      Revenue to date -             245,000

Cr      Loss                                      33,000

b) Percentage Completion Method

Stage of Completion %  = (Costs incurred to Date / Total Contract Costs )*100

278,000/453,000 = 61.36%

Revenue recognizable = 61.36% * Contract Value = 257,712

Cost to date  =................................................................. = 278,000

Loss to Date (balancing figure)................................... =   20,288

<u>Journal Entries</u>

Dr  Cost expended to date - 278,000

Cr      Revenue to date -             257,712

Cr      Loss                                      20,288

8 0
3 years ago
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