Answer:
- <u>std rate $30.64</u>
- <u>efficiency variance $6,128.00</u>
Explanation:
We will work the rate variance to obtain the standard rate:
actual rate $29.20
actual hours 11,700
difference $1.44
rate variance $16,800.00
<u>std rate $30.64</u>
<u></u>
<u>Now we can solve for the labor efficiency variance:</u>
std hours 11700
actual hours 11500
std rate $30.64
difference 200
<u>efficiency variance $6,128.00</u>
The diference is positive, sothe variance is favorable.
Answer:
Table is completed below.
Explanation:
A price ceiling (price floor) is the maximum (minimum) price that can be charged in the market, and is imposed lower than (higher) than free market equilibrium price in order to be effective and binding. Therefore, the given statements can be labelled as below:
(1) Government prohibits gas stations from selling for more than $3.20 - Price ceiling, Not binding
(2) Government instituted legal minimum price of $2.80 - Price floor, Not binding
(3) Due to new regulations, gas stations cannot hire more workers - Price ceiling, Binding
Answer:
Wholesalers buy products from manufacturers at a lower price than other businesses because they receive discounts for volume buying.
Explanation:
I have no explanation really to say. Thats just the answer.
Answer:
$12,197
Explanation:
I guess that the correct numbers are because otherwise it would be a ridiculously large number:
- n = 6 years or 24 quarters
- principal = $6,000
- interest rate = 3% quarterly
Future value = principal x (1 + interest rate)ⁿ = $6,000 x (1 + 3%)²⁴ = $6,000 x 1.03²⁴ = $6,000 x 2.0328 = $12,196.80 ≈ $12,197