1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
If an investor's holding period is longer than the term to maturity of a bond, he or she is exposed to___________ A) interest-ra
Zigmanuir [339]

Answer:              

option B

Explanation:

Reinvestment risk refers to the possibility that potential cash flow will have to be invested in low-yielding assets, like coupons (the annual interest charges on the bond) or the eventual returns of the investment.

Reinvestment risk refers to one of financial risk's primary styles. The term is used to describe the threat of anyone canceling or stopping a particular investment, which one might need to find another place to reinvest the cash with the risk of not getting an equally attractive prospect.

Thus, from the above we can conclude that correct option is B .            

7 0
3 years ago
Crawford Fishing had a net income of $35,640 in 2017. They decided to pay $3,000 in dividends and keep the rest to help expand t
Lady bird [3.3K]

Answer:

'Retained income'.

Explanation:

We have been given that Crawford Fishing had a net income of $35,640 in 2017. They decided to pay $3,000 in dividends and keep the rest to help expand their production line.

We know that the net income that remains after paying dividends is known as 'Retained income'.

We also know that retained income can be used to pay off debts or it can be invested into business activities.

Therefore, the profit that Crawford Fishing keep to reinvest in the business is recorded as retained income.

8 0
3 years ago
______ is a structured program in which a high-potential trainee is groomed for a management position through a carefully design
vitfil [10]

Answer:

Management training program.

Explanation:

Management training program is a structured program in which a high-potential trainee is groomed for a management position through a carefully designed sequence of short-term job transfers and rotations, gaining experience with various parts of the business, often with increasing levels of challenge and responsibility.

Basically, it is a structured program which is typically designed and focused on improving a high-potential trainee's skills such as communication, listening, empathy, oratory abilities, etc, in order to make them to be more productive, valuable, an effective leader, and leverage on new opportunities that would help the organization achieve success in their set goals and objectives, as well as enhance their competitive advantage over rivals in the industry.

7 0
4 years ago
On November 26, Joe wrote to Kate offering to purchase a farm that she owned. Upon receiving the letter on November 28, Kate imm
slega [8]

Answer:

No, a contract has not been form because the offer has been revoked

Explanation:

an offers can be terminated if there is rejection of offer by the offeree. an offer can be revoked before its has been accepted. Since the revocation is made known to Joe before the letter of acceptance reach joe. No contract has been form.

Acceptance or rejection of offer can be done orally or written. orally can be through phone communication.

the phone call can also be a form of rejection of offer which has been declared by the offeree.

4 0
3 years ago
Which of the following is true when an economy produces at full employment, but consumers, government, businesses, and the forei
Art [367]

Answer:

When an economy produces at full employment, but consumers, government, there is a recessionary gap - Option B.

Explanation:

According to the Keynesian perspective, firms produce output only if they expect it to sell.

While the availability of the factors of production determines a nation’s potential gross domestic product (GDP), the amount of goods and services actually being sold, known as real GDP depends on how much demand exists across the economy.

Keynes termed a fall in the aggregate demand as a recessionary gap.

A recessionary gap refers to an economy operating at a level below its full-employment equilibrium. Under this condition, the level of real gross domestic product (GDP) is lower than the level of full employment, which puts downward pressure on prices in the long run.

Thus, when an economy produces at full employment, but consumers, government, there is a recessionary gap - Option B.

6 0
4 years ago
Other questions:
  • Case ScenarioOver the past four years, the LSS organization, a nonprofit organization headquartered in Minneapolis, MN, has beco
    12·1 answer
  • Outsourcing and telecommuting are examples of which workplace trend?
    11·2 answers
  • Assume that the United States has a comparative advantage in aircraft manufacture and India has a comparative advantage in produ
    11·1 answer
  • Palante actually produced 8,000 units. The controller decided to compare their actual results to their budget. The following bud
    5·1 answer
  • Kyei weighed half the total weight of his two brothers. his two brothers be weighed 44 1/2kg and 32 1/2kg.what was kyei's weight
    7·1 answer
  • Which of the following item would cause cash per the hank statement to be smaller than the balance of cash show in the accountin
    7·1 answer
  • If you were charged $1152 in taxes on a $2560 purchase. What percent tax were you charged
    11·1 answer
  • Contribution Income Statement and Cost-Volume-Profit Graph Kopi Company produces dog cages that are sold for $38 per unit. The c
    6·1 answer
  • When considering marginal revenue versus marginal costs, marketers must ensure that.
    13·1 answer
  • ________ is the range of product and service segments that the firm serves within its market.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!