Answer:
Tax Services
Total wages were:
= hourly wage rate * total hours spent on returns for the month
For example, if the hourly wage rate is $50 and the total hours spent on the returns equal 560 hours, the total wages will be equal to $28,000 ($50 x 560).
Explanation:
The Tax Services' total wages will be equal to the hourly wage rate multiplied by the total hours spent on returns during the month. The total hours spent on the returns for the month is obtained by adding up the hours spent on all the returns. The total wages depend on the hours worked and the standard wage rate that has been established in the firm.
Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature. Hence, to utilize the resources in the optimum possible way and meet the demands of humans, the economy allocates scarce resources.
<h3>How Microeconomics allocates scarce resources?</h3>
Microeconomics analyses how scarce resources are allotted efficaciously to the production of products and services. It facilitates in resolving the critical financial issues of the economic system at an individual level.
Thus, in this manner, Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature.
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Answer:
7,500 Unfavorable
Explanation:
Standard rate = $5 per pound
Actual quantity = 37,500 pounds
Direct labor quantity variance:
= Standard rate × (Standard quantity - Actual quantity)
= 5 × [(12,000 units × 3 pounds) - 37,500 pounds]
= 5 × [36,000 pounds - 37,500 pounds]
= 5 × 1,500
= 7,500 Unfavorable
Therefore, the direct materials quantity variance was 7,500 Unfavorable.
Answer:
Results are below.
Explanation:
<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Direct labor cost:
Predetermined manufacturing overhead rate= 900,000 / 500,000
Predetermined manufacturing overhead rate= $1.8 per direct labor dollar
Direct labor hours:
Predetermined manufacturing overhead rate= 900,000 / 50,000
Predetermined manufacturing overhead rate= $18 per direct labor hour
Machine-hour:
Predetermined manufacturing overhead rate= 900,000 / 100,000
Predetermined manufacturing overhead rate= $9 per machine hour
Answer:
PW = 2,911
FW = 5,856
Since both PW and FW are positive project may be accepted
Explanation:
the file attached below shows the full explanation
