Answer:
the labor rate variance is $4,050 unfavorable
Explanation:
The computation of the labor rate variance is shown below:
= Actual hours × (standard rate - actual rate)
= 4,500 hours × ($19 per hour - $19.90 per hour)
= $4,050 unfavorable
Hence, the labor rate variance is $4,050 unfavorable
Answer: $4,950
Explanation:
If the company is using the First In First Out method for Inventory valuation then the earlier inventory is sold off first which would mean that the inventory at year end will be the more recent inventory.
The 25 units at the end of the year will be the most recent units purchased and so will be;
20 units from the third purchase
5 units from the 2nd purchase
Inventory value = (20 * 195) + ( 5 * 210)
= $4,950
<em>The options are not for this question. </em>
Well, Someone would rent a tuxedo or dress that they couldn't afford if they bought it and renting is just cheaper when you need to look nice for a meeting or a party.
Answer:
49.6 days
Explanation:
The average inventory days outstanding is an example of an activity ratio. Activity ratios measures the efficiency with which comapnies carry out their daily tasks
The average inventory days outstanding = number of days in a period / inventory turnover
inventory turnover = cost of goods sold / average inventory
Average inventory = (6,852 + 7,036 ) / 2 = 6944
$51,098/ 6944 = 7.365
365/ 7.365= 49.6 days
Answer:
The amount needed in the retirement account is $707,025.
Explanation:
This problem is a case of annuity.
They plan to withdraw $ 75,000 annually from the end of the first year of retirement.
The formula that relates capital in the account to annual withdrawals is
