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spin [16.1K]
2 years ago
14

Riverside Manufacturing designs and manufactures bathtubs for home and commercial applications. Riverside recorded the following

data for its commercial bathtub production line during the month of​ March: Standard DL hours per tub 4 Standard variable overhead rate per DL hour $ 8.00 Standard variable overhead cost per unit $ 32.00 Actual variable overhead costs $ 18,450 Actual DL hours 2,050 Actual variable overhead cost per machine hour $ 9.00 Actual tubs produced 800 What is the variable manufacturing overhead efficiency variance in​ March?
Business
1 answer:
Papessa [141]2 years ago
7 0

Answer:

variable overhead efficiency variance= $9,200 favorable

Explanation:

Giving the following information:

Riverside recorded the following data for its commercial bathtub production line during ​ March:

Standard DL hours per tub= 4

Standard variable overhead rate per DL hour= $ 8.00

Standard variable overhead cost per unit= $ 32.00

Actual variable overhead costs= $ 18,450

Actual DL hours= 2,050

Actual variable overhead cost per machine hour= $ 9.00

Actual tubs produced= 800

We need to use the following formula:

variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard Rate

SQ= 800 tubs* 4 hours=  3,200 hours

AQ= 2,050 hours

SR= $8 per direct labor hour

variable overhead efficiency variance= (3,200 - 2,050)*8= $9,200 favorable

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1. A Letter of Credit (or LC) is one of the major pillars on which International Trade stands.
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Answer:

Letter of Credit (LC)

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b) A diagram is attached.  The procedures are detailed below:

A. A Sales Contract is established between the seller (exporter) and the buyer(importer).

B. The importer makes a request to its bank for issuance of letter of credit.

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D. The exporter’s bank advises on the letter of credit to the exporter.

E. The exporter presents export documents (bill of lading and invoice) to its bank.

F. The exporter’s bank delivers the documents to the importer’s bank.

G. The importer’s bank debits the account of the importer for the stated amount after confirming that the documents are in order.

H. The importer’s bank pays the purchase price to the exporter’s bank.

I. The exporter’s bank credits the exporter’s bank to show payment.  This ends the transaction.

c. The letter of credit guarantees both the Mbo Limited and Tiffany Anderson Group Ltd.  It guarantees and ensures that payment for goods are not paid to Tiffany Anderson Group Ltd until there is evidence that the correct goods and quantity have been shipped by Tiffany Anderson Group Ltd (through the bill of lading).  It also assures Tiffany Anderson Group Ltd of payment for shipped goods since the documents cannot be released to Mbo Limited unless Mbo Limited's account had been debited and the money transmitted to Tiffany Anderson Group Ltd through its bank.

Explanation:

As above.

Download docx
5 0
3 years ago
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