The direct labor efficiency/quantity variance for November of $1,800.
The labor efficiency variance focuses on the number of labor hours used in production. It is defined as the difference between the actual number of direct labor hours worked and budgeted direct labor hours that should have been worked based on the standards.
Labor efficiency variance equals the number of direct labor hours you budget for a period minus the actual hours your employees worked, times the standard hourly labor rate.
For example, assume your small business budgets 410 labor hours for a month and that your employees work 400 actual labor hours.
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Answer:
The proper adjusting entry on December 31 is, D. Debit Insurance Expense, $4,700; credit Prepaid Insurance, $4,700.
Explanation:
The entry of prepaid insurance made earlier was $8,150 and on December 31, it was calculated that the unexpired amount of insurance was $3,450. So first we will calculate the amount of prepaid insurance which has been expired,
$8,150 - $3,450 = $4,700
To record the expired prepaid insurance, we will first debit prepaid insurance expense with $4,700 and then credit prepaid insurance with $4,700.
Prepaid Insurance is an asset and it will decrease by a credit of $4,700, so that the remaining balance in prepaid insurance account is $3,450 which is the remaining unexpired prepaid insurance.
Number of shorts sold=xnumber of Jeans sold =y 100 items were sold x +y=100 eq 1x=100-y The shorts sold for $15 each, and the jeans sold for $28 per pair.Sales of denim shorts and denim jeans for May totaled $1,955. 15x+28y=1955 eq 2
substitute the value of x in second equation 15(100-y) +28y=1955 1500-15y+28y=1955 13y=455 y=35 x=100-35=65 Number of shorts sold=x=65
number of Jeans sold =y=35
Answer:
The price you should be willing to pay for this stock= $24.86
Explanation:
To estimate the stock will be worth $50 per share 5 years from now and you require a 15% rate of return for stock investments of this type . Therefore 50= xX1.15^5 by solving this equation we have x= 24.86 . The price you should be willing to pay for this stock= $24.86
Answer: $106,205
Explanation:
Direct materials purchase-price variance = PPS pounds purchased * (Standard cost per pound - Actual cost per pound)
Standard cost per pound = Direct materials usage variance / [PPS used - (Actual number of units of Flex produced * (Budgeted usage of PPS / Budgeted units for Flex 10))]
= 28,860/ [48,000 - (4,900 * (53,100 / 5,900))]
= $7.40
Actual cost per pound:
= Total actual cost of PPS used / PPS Used
= 266,880 / 48,000
= $5.56
Direct materials purchase-price variance = 57,720 * (7.40 - 5.56)
= $106,205
