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SVEN [57.7K]
3 years ago
12

Clark Manufacturing manufactures a product with a standard direct labor cost of twohours at $12.00 per hour. During July, 2,000

units were produced using 4,200 hours at$12.20 per hour. The labor efficiency variance was
Business
1 answer:
meriva3 years ago
4 0

Answer:

$2,400 U

Explanation:

Labor efficiency variance is a financial metric that assesses a company’s ability to efficiently use labor per the expectations. The variance is worked out as the difference between the actual labor hours utilized and the standard amount that ought to have been used, multiplied by the standard labor rate.

In Clark Manufacturing:

It is given that:

Number of hours required to produce one product = 2 hours

Standard Labor rate(SLR) per hour = $12

Actual Labor rate(ALR) per hour = $12.20

Units of products produced = 2000

Number of hours required(SLH) to produce 2000 units = 4,000 hours

Actual Labor Hours(ALH) used =4,200 hours

Labor Efficiency Variance =(ALH - SLH) *SLR

       = (4200-4000) *12

           200*12 = $2,400 U

U means unfavorable. This variance is unfavorable because the labor cost exceeded the standard or budgeted labor cost.

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Northern purchased the entire business of Southern including all its assets and liabilities for $2,400,000 on December 31, 2021.
stich3 [128]

Answer:

$400,000

Explanation:

The computation of goodwill is shown below:-

Fair value of assets = $3,200,000

Fair value of liabilities = $1,200,000

Cash paid for southern = $2,400,000

Acquired Net assets = $2,000,000

Net assets acquired = Fair value of assets - Fair value of liabilities

= $3,200,000 - $1,200,000

= $2,000,000

Goodwill acquired = Cash paid for southern - Acquired Net assets

= $2,400,000 - $2,000,000

= $400,000

5 0
3 years ago
2. When the economy is in a recession, the Federal Reserve usually cuts interest rates. Why would the federal government do this
Airida [17]
The purpose of the Federal Reserve cutting interest rates during a recession is to encourage borrowing (borrowing becomes cheaper) and in this way especially for companies they may spend more money then  on improvements, new products etc so the economy theoretically will be stimulated to counteract the recession.
7 0
2 years ago
1. When the quantity supplied is larger than the quantity demanded.: When the quantity supplied is larger than the quantity dema
ASHA 777 [7]

Answer:

1. b.Excess Supply

2. e.Equilibrium Quantity

3. c.Equilibrium

4. a.Equilibrium Price

5. d.Excess Demand

7 0
2 years ago
Which inventory costing method results in the lowest net income during a period of rising inventory​ costs?.
scoray [572]

Due to the greatest cost of goods sold, the LIFO (Last In Last Out) technique displays the lowest net profitability. Compared to the other techniques of inventory valuation, the cost of goods sold for the LIFO approach is the greatest.

<h3>Which technique of inventory valuation will result in the lowest net profit?</h3>

The application of LIFO will produce the lowest net income and the greatest estimated cost of goods sold among the three options during periods of inflation.

<h3>Which method of inventory has the lowest income tax rate?</h3>

LIFO is the inventory cost flow method that yields the lowest income tax liability. A form of inventory cost flow mechanism called last-in-first-out (LIFO) operates under the presumption that the last item acquired will be the first item to be sold.

<h3>In an era of inflation, which inventory method results in the lowest income tax?</h3>

Due to increasing COGS, LIFO leads to reduced net income (and taxes). However, under LIFO during inflation, there are fewer inventory write-downs. Results from average cost are in the middle of FIFO and LIFO.

To Know more about techniques

brainly.com/question/13655064

#SPJ4

7 0
1 year ago
Gloria's employer deducted 20 percent of her pay in the month of january due to personal problems he had with her. under the lil
Dafna11 [192]

180 days of the most recent paycheck reflecting the discrepancy.

4 0
3 years ago
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