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murzikaleks [220]
3 years ago
14

Flapjack Corporation had 7,953 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budg

eted for 1,100 units, but only 988 units were actually produced. Labor standards were 7.5 hours per completed unit at a standard rate of $12.88 per hour. The direct labor rate variance is a.$6,998.64 unfavorable b.$6,998.64 favorable c.$7,299.25 unfavorable d.$7,299.25 favorable
Business
1 answer:
uysha [10]3 years ago
5 0

Answer:

The correct answer is:

$6,998.64 favorable (b)

Explanation:

The direct labor rate/price variance is the difference between the standard cost of production and the actual cost incurred in the production process. If the actual rate of labor is less than the standard labor rate, it is said to be favorable, because lesser time is used in the production process than estimated. The reverse is the case for unfavorable direct labor rate variance.

The formula is given as:

Direct Labor Rate Variance = (SR - AR) × AH

Where

SR = standard rate = $12.88 per hour

AR = actual rate = $12.00 per hour

AH = actual direct labor hours = 7,953 hours

∴ Direct labor rate variance = (12.88 - 12.00) × 7,953 = $6,998.64 favorable

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Answer:

The given statement is "True".

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8 0
2 years ago
56) What is the coupon payment of a 25-year $1000 bond with a 4.5% coupon rate with quarterly payments? A) $3.75 B) $11.25 C) $2
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Answer:

Quarterly interest payment= $11.25

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<em>T</em><em>he coupon rate is the proportion of the nominal value of a bond that is paid as  interest . This proportion is always as a quoted as percentage . And the payment  can be made annually, semi-annually or even quarterly</em>

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3 0
3 years ago
Catherine Jones has determined the following information about her own financial situation. Her checking account is worth $750 a
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$150,450

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