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
skelet666 [1.2K]
3 years ago
13

The following data pertain to operations concerning the product for the last month: Actual hours worked 8,100 hours Actual total

labor cost $119,880 Actual output 800 units What is the labor rate variance for the month?
Business
1 answer:
choli [55]3 years ago
8 0

Answer:

Instructions are below.

Explanation:

Giving the following information:

<u>We weren't provided with enough information to solve the requirement. But, I will provide an example and the formula to guide an answer.</u>

For example:

Standard rate per hour= $15

Actual hours worked 8,100 hours

Actual total labor cost $119,880

<u>To calculate the direct labor rate variance, we need to use the following formula:</u>

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Actual rate= 119,880/8,100= $14.8

Direct labor rate variance= (15 - 14.8)*8,100

Direct labor rate variance= $1,620 favorable

You might be interested in
He people who promote innovations as part of the process of transmission are called? adopters. transmitters. innovators. entrepr
Alina [70]

The people who promote innovations as part of the process of transmission are called "Transmitters".

<h3>What do you mean by term Innovations?</h3>

An innovation refers to the action or process of changing/transforming something. It an be used to make a process more effective.

In business, innovation often results when ideas are applied by the company in order to further satisfy the needs and expectations of the customers.

Adding to it, the transmitters are those who are helpful in the process of transmission of something. Rest all options like A, C and D are incorrect.

Therefore, correct option is B.

Learn more about transmitters, refer to the link:

brainly.com/question/2084370

#SPJ4

6 0
2 years ago
A corporation issued 5,000 shares of its $1 par value common stock in exchange for land (market value $30,000) and a building (m
olga2289 [7]

Answer:

The correct option is A,Debit Land and Building, $130,000; Credit Common Stock, $5,000; Credit Paid-in Capital in Excess of Par Value, Common Stock, $125,000.

Explanation:

The sum of the two market values of both land and building is $130,000($100,000+$30,000),which would be debited to land and building account to show that the asset has increased due to new acquisition.

In the common stock account the par value of the shares which is $5,000($1*5000) would be credited to it.

The difference between the market value of assets acquired and the common stock amount which is $125,000($130,000-$5,000) would be credited to paid in capital in excess of par account.

3 0
3 years ago
Answer the following questions about prepaid​ expenses:
pochemuha

Answer:

the numbers are missing, so I looked for a similar question:

a. On ​1, Tree Service prepaid $7,200 for six​ months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts​ involved, and show their balances at adjusts the accounts only at ​31, the end of its fiscal year.

Dr Rent expense 1,200 (= $7,200 / 6)

    Cr Prepaid rent 1,200

Balances:

Prepaid rent 6,000

Rent expense 1,200

b. On ​1, Tree Service paid $1,050 for supplies. At ​31, has $400 of supplies on hand. Make the required journal entry at 31. Then post all amounts to the accounts and show their balances at 31. Assume no beginning balance in supplies.

Dr Supplies expense 650 (= $1,050 - $400)

    Cr Supplies 650

Balances:

Supplies 400

Supplies expense 650

c. On ​1, Tree Service prepaid for six​ months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts​ involved, and show their balances at adjusts the accounts only at ​31, the end of its fiscal year. Prepare the adjusting journal entry to record the rent expense at 31.

SAME AS QUESTION A

6 0
3 years ago
Brief Exercise 24-01 Wildhorse Company uses both standards and budgets. For the year, estimated production of Product X is 565,0
laiz [17]

Answer and Explanation:

The computation is shown below:

a. The standard cost is

Fo material

= $1,243,000 ÷ 565,000 units

= $2.20 per unit

And, for labor it is

= $1,638,500 ÷ 565,000 units

= $2.90 per unit

b. The budgeted cost would be remian the same as the total cost i.e. $1,243,000 and $1,638,500

Hence, the same would be considered and relevant

6 0
3 years ago
A formal written document that describes the nature of a business and how it will operate.
scoray [572]

A business's business plan is a formal written document that outlines the nature of the business and how it will function.

A strategic document that encapsulates your plans for your company is the business plan. It enables you to assess whether your ideas are feasible and whether there is a demand for your goods or services.

Summary/Overview is the main section of the business plan.

A succinct but clear argument (a few phrases or paragraphs) outlining why the company will succeed. The Business Plan's most crucial component since it ties everything together.

<h3>What constitutes a business plan's 7 components?</h3>

Here is a list of the seven key elements of a business plan and what it should contain, despite the fact that plans vary as much as enterprises do.

Brief summary.

Business Description.

Services and goods.

Market research.

Organizing and Executing Out

Business and its management team.

A plan and estimated costs.

To learn more about Business plan, visit:

brainly.com/question/8119526

#SPJ4

5 0
1 year ago
Other questions:
  • It becomes particularly urgent for a company to consider diversification when there are
    9·1 answer
  • Best Foods Company is considering expanding beyond the regional market segments now served by its Hellmann's mayonnaise. One cri
    12·2 answers
  • ​japan's largest paper​ company, nippon​ seishi, has decided to own huge forests and corresponding processing facilities in​ aus
    5·1 answer
  • Two firms, such as a small local, family-owned Italian restaurant and Olive Garden, share few markets and have little similarity
    9·1 answer
  • Block Island TV currently sells large televisions for $380. It has costs of $290. A competitor is bringing a new large televisio
    7·1 answer
  • The central bank requires Southern to hold 10% of deposits as reserves. Southern Bank's policy prohibits it from holding excess
    14·1 answer
  • The Dorilane Company specializes in producing a set of wood patio furniture consisting of a table and four chairs. The set enjoy
    11·1 answer
  • Give any two merits and demerits of the partnership firm
    11·2 answers
  • In the month of June, a department had 20,000 units in Beginning Work-in-Process that were 70% complete. During June, 90,000 uni
    6·1 answer
  • Recognizing that grade point average may not completely reflect success in school is an example of a?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!