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julia-pushkina [17]
3 years ago
6

Problem 10-171 The following labor standards have been ... The following labor standards have been established for a particular

product: Standard labor hours per unit of output 4.5 hours Standard labor rate $19.70 per hours The following data pertain to operations concerning the product for the last month: Actual hours worked 6,500 hours Actual total labor cost $130,975 Actual output 1,400 units Required: a. What is the labor rate variance for the month
Business
1 answer:
lozanna [386]3 years ago
4 0

Answer:

Labour rate variance    $2,925 unfavorable

Explanation:

<em>The labour rate variance is the difference between the standard labour cost allowed for the actual hours worked and  the actual labor cost for the same hours</em>

                                                                               $

Standard labour cost ($19.70× 6500)                128,050

Actual labour cost                                               <u>130,975</u>    

Labour rate variance                                           <u> 2,925 unfavorable</u>

                                 

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Answer: $90

Explanation: closing stock as at November ending is 3, consisting of:

1 DVD bought on 1st June @ $47

1 DVD bought on 1st Nov @ $43

1 DVD bought on 30th Nov @ $36

using FIFO (First in first Out) inventory method, 2 of the DVD was sold as at the end of December.

Cost of goods sold in the month of December is $47 +$43 = $90

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2 years ago
Jennifer and Jamie are starting a business and have asked you for advice about whether they should form a partnership, a corpora
sleet_krkn [62]
<h2>Let us understand the definition to shoot the question for better understanding.</h2>

Explanation:

Sole Proprietorship:

  • Owned by single person
  • One person responsible for liable and business
  • Simple to form
  • Nominal cost

Corporations:

  • Legal entities
  • Shared by shareholders
  • More complex type
  • Used for large business

Partnership:

  • Shared by two or more people
  • Types :general partnerships, limited partnerships, joint ventures

Questions: (reason not required as you can self-understand)

  • Are you going to own by oneself or shared?
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  • What is your budget?
  • Do you want to make simple legal procedures?
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2 years ago
One thing that helps incumbents win reelection is ______________, which might include federal spending projects benefiting state
Temka [501]

One thing that helps incumbents win reelection ,which might include federal spending projects benefitting state and local governments, businesses, colleges, and other institutions in a congressional district is

the pork barrel.

Pork barrel :

Pork barrel, or simply pork, is a metaphor for the appropriation of government spending for localized projects secured solely or primarily to bring money to a representative's district.

What is the problem of pork barrel?

The Priority Development Assistance Fund scam, also called the PDAF scam or the pork barrel scam, is a political scandal involving the alleged misuse by several members of the Congress of the Philippines of their Priority Development Assistance Fund (PDAF, popularly called "pork barrel"), a lump-sum discretionary fund

Learn more about pork barrel:

brainly.com/question/25553299

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5 0
1 year ago
Dyckman Dealers has an investment in Thomas Corporation bonds that Dyckman accounts for as a trading security. Thomas Corporatio
gtnhenbr [62]

Answer:

$20,000

Explanation:

The small investment in equities and bonds must be valued at market value and must not be accounted for in-accordance with the speculation of the company. So the market value here is $20,000 and must be valued at this price irrespective of the management valuation.

5 0
3 years ago
Branch Corporation issued $12 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance a
siniylev [52]

Answer:

1                   Cash                                                     11,190,000

                      Discount on Note Payable                810,000

                       Note Payable                                          12,000,000

2-                 Interest Expense                                   810,000

                          Discount on Note Payable                    810,000

3-                  Note Payable                                       12,000,000

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Explanation:

In order to pass the Journal entry for issuance of Note Payable. First we need to calculate the Discount on issue of Bond Payable. The discount on note payable is calculated using the 12,000,000 x 9% x 9/12 = 810,000. In case of note payable is discount is interest expense for issuer hence on due corporation will pay full value of note to purchaser of note.

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