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nata0808 [166]
3 years ago
7

Elk Creek Company’s most popular product requires specialized labor. The employees are highly productive, but also highly paid.

The following standards have been developed for the product: 2 direct labor hours/unit $45/direct labor hour During November, Elk Creek produced 3,600 units and used 7,000 direct labor hours at a cost of $378,000. What is the direct labor quantity variance for November?
Business
1 answer:
dmitriy555 [2]3 years ago
3 0

Answer:

The direct labor quantity variance for November=$9,000

Explanation:

To calculate the direct labor quantity variance, multiply the standard rate by the difference between the total standard hours of direct labor and the total actual hours of direct labor.

This can be expressed as;

Direct labor quantity variance=(Total standard hours-Total actual hours)×standard rate

where;

Total standard hours=rate×actual number of units produced

Total standard hours=(2×3,600)=7,200 hours

Total actual hours=7,000 hours

Standard rate=$45

replacing;

Direct labor quantity variance=(Total standard hours-Total actual hours)×standard rate

Direct labor quantity variance=(7,200-7,000)×45

Direct labor quantity variance=(200×45)=9,000

Direct labor quantity variance=$9,000

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Gerritt wants to buy a car that costs $30,750. The interest rate on his loan is 5.65 percent compounded monthly and the loan is
svet-max [94.6K]

Answer:

$444.07

Explanation:

EMI = [P * I * (1+I)^N]/[(1+I)^N-1]

P =loan amount or Principal = 30750

I = Interest rate per month = .0565/12

N = the number of installments = 7*12 = 84

EMI = [30750*.0565/12* (1+(.0565/12))^84]/[(.0565/12))^84-1]

EMI = [30,750 * 0.0565  / 12 * 1.48374877204] / [1.48374877204 - 1]

EMI = 214.819001902 / 0.48374877204

EMI = $444.07

7 0
3 years ago
Which of the following describes the substitution effect of a price change?A) The change in demand that results from a change in
Liula [17]

Answer:

The answer is D. The change in quantity demanded of a good that results from a change in price, making the good more or less expensive relative to other goods, holding constant the effect of the price change on consumer purchasing power

Explanation:

Substitution effect is a concept in which, as the price of a good or service increases, less of the good or service is substituted for other less expensive.

For example, if the price of Pepsi were to rise, the substitution effect would cause the consumer to buy less of it and substitute more coca-cola for now relatively more expensive Pepsi.

Option A. is wrong because we are talking about the quantity demanded and not just demand. (Please take note).

6 0
3 years ago
In the context of a job advertisement, what does 'self-starting' mean?​
andrey2020 [161]

Answer:

A self-starter is a person who is motivated to set and achieve goals and takes initiative within the workplace. Self-starters are especially important in the workplace and highly sought after by employers because they can get their job done with supervision and work through issues and perform tasks on their own.

Explanation:

5 0
2 years ago
Juniper Co uses a perpetual inventory system and the gross method of accounting for purchases. The company purchased $9750 of me
KatRina [158]

Answer:

D) Debit Accounts Payable $1500; Credit Merchandise Inventory $1500

Explanation:

The journal entry to record the merchandise return is shown below:

Account payable A/c Dr $1,500

                To Merchandise inventory A/c $1,500

(Being returned inventory is recorded)

For recording the returned inventory we debited the account payable and credited the merchandise inventory account so that the proper posting could be done

6 0
2 years ago
Planned investment spending is _____ the interest rate because fewer projects are profitable at higher interest rates. greater t
Lapatulllka [165]

The relationship between planned investment and interest rates is that investment spending is inversely related to interest rates.

<h3>How are investment spending and interest rates related?</h3>

Investment spending depends on being able to take loans from financial institutions to sponsor capital projects.

If interests rate are high, there will be less planned investments because the cost of taking a loan will be high. The relationship is there inverse in nature.

Find out more on interest rates at brainly.com/question/26540958.

5 0
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