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MariettaO [177]
3 years ago
5

Marv Company's direct labor costs for manufacturing its only product were as follows for October: Standard direct labor hours (D

LHs) per unit of product 2 Budgeted finished units for the period 7,100 Actual number of finished units produced 5,700 Standard wage rate per direct labor hour (SP) $ 20.00 Direct labor costs incurred $ 234,000 Actual wage rate per direct labor hour (AP) $ 18.00 The direct labor efficiency variance for October, rounded to the nearest dollar, was:
a. $32,000 unfavorable.

b. $20,600 favorable.

c. $26,000 favorable.

d. $3,200 unfavorable.

e. $52,600 unfavorable.
Business
1 answer:
sergejj [24]3 years ago
4 0

Answer:

a. $32,000 unfavorable

Explanation:

The computation of the direct labor efficiency variance for October is shown below:-

Direct labor efficiency variance = (Standard hours for actual production - Actual hrs) × Standard rate per hour

= (5,700 × 2 - $234,000 ÷ $18.00) × $20

= (11,400 - $13,000) × $20

= $1,600 × $20

= $32,000 unfavorable

Therefore for computing the direct labor efficiency variance for October we simply applied the above formula.

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Effect of Inventory Errors During the taking of its physical inventory on December 31, 20Y3, Sellers Company incorrectly counted
Illusion [34]

Answer:

Cost of goods sold  = overstated : $24,265

Current assets  = understated : $24,265

Gross profit  = understated : $24,265

Inventory  = understated : $24,265

Net income  = understated : $24,265

Stockholders' equity  = understated : $24,265

Total assets = understated : $24,265

Explanation:

Inventory was understated by $24,265 ($327,560 - $303,295). Since inventory is an Asset, also it is a Income Statement element and consequently affects Retained Earnings (Distributions to Shareholders) , the effect is shown above.

3 0
3 years ago
Ray Bond sells handcrafted yard decorations at county fairs. The variable cost to make these is $20 each, and he sells them for
Rama09 [41]

Answer:

5 units

Explanation:

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Given;

Variable cost per unit = $20

Selling price per unit = $50

Fixed cost =  cost of rent = $150

Let the number of units to be sold be c

Total revenue = 50c

total cost = 20c + 150

To break even, total revenue =  total cost

20c + 150 = 50c

50c - 20c = 150

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Ray must sell 5 units to break even.

5 0
3 years ago
A Nasdaq-listed stock currently shows an inside market of 15.50 - 15.75, 10 x 10. A broker-dealer that is not a market maker in
tresset_1 [31]

Answer:

cross trade

Explanation:

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8 0
3 years ago
Akwamba made this statement ‘organisations cannot be successful if managers fail to pay attention to the forces in the external
WARRIOR [948]

Answer:

Yes, I agree.

Find explanation below.

Explanation:

The external environment of a business simply refers to the factors found outside the business which can have a profound effect on it. There are basically two types of external environments, namely;

1. The directly interactive which has a direct impact on the business. Examples include, business owners, the customers, contractors, and competitors.  

2. Indirectly interactive whose impact on the business is not immediate. Examples include, the political , socio-cultural, economic influences among others.

Practical Examples:

1. Customers play a crucial role to the running of businesses. Managers must take care to listen to the concerns of the customers and attend to their needs urgently. For example, if a customer complains about his dissatisfaction with a style of service, managers should endeavor to address the concern to avoid losing the customer.

2.Political: Government rules and regulations have an impact on businesses because, not adhering to them could lead to sanctions and even closure of the business. Managers must ensure that they heed to and comply with governmental instructions, such as tax payment.

3 0
3 years ago
If an investment is producing a return that is equal to the required return, the investment's net present value will be:
harina [27]
The net present value would be zero.

Hope this helped! :)
4 0
3 years ago
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