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Rudik [331]
3 years ago
8

Ravena Labs., Inc. makes a single product which has the following standards: Direct materials: 2.5 ounces at $20 per ounce Direc

t labor: 1.4 hours at $12.50 per hour Variable manufacturing overhead: 1.4 hours at 3.50 per hour Variable manufacturing overhead is applied on the basis of standard direct labor-hours. The following data are available for October: 3,750 units of compound were produced during the month. There was no beginning direct materials inventory. Direct materials purchased: 12,000 ounces for $225,000. The ending direct materials inventory was 2,000 ounces. Direct labor-hours worked: 5,600 hours at a cost of $67,200. Variable manufacturing overhead costs incurred amounted to $18,200. Variable manufacturing overhead applied to products: $18,375. The labor efficiency variance for October is:____________
Business
1 answer:
konstantin123 [22]3 years ago
4 0

Answer:

Direct labor time (efficiency) variance= $4,375 unfavorable

Explanation:

Giving the following information:

Direct labor: 1.4 hours at $12.50 per hour

Direct labor-hours worked: 5,600 hours at a cost of $67,200.

Production: 3,750 units

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

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Standard quantity= 3,750*1.4= 5,250

Direct labor time (efficiency) variance= (5,250 - 5,600)*12.5

Direct labor time (efficiency) variance= $4,375 unfavorable

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den301095 [7]

Answer:

Unsuccesful outcomes

Negative Respponses from others

8 0
2 years ago
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which of the following countries had the highest per capita GDP in 2013? Iran, Malaysia, Poland, Turkey
Mazyrski [523]

Answer: Poland

Among the four countries, Iran, Malaysia, Poland and Turkey, Poland had the highest per capita GDP in 2013 and ranked 61st with $21,00 per capita GDP.  Malaysia ranked 74th at $16,900. Turkey ranked 85th at $15,000 and Iran ranked 97th at $13,100.


7 0
3 years ago
A ________ is an agreement by the person who issues the letter to pay a sum of money on receipt of an invoice and other document
RSB [31]

Answer: The correct answer is "B. Letter of credit".

Explanation: A letter of credit is an agreement of the person who issues the letter to pay a sum of money on receipt an invoice and other documents.

Is a payment mechanism used in international trade.

6 0
3 years ago
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Sip corp uses no debt. the weighted average cost of capital is 8 percent. if the current market value of the equity is 18 millio
grigory [225]

Since there is no debt, all the capital that the company raises is in the form of common equity.

Since there is only equity (meaning the firm is a fully equity firm), the weighted average cost of capital (WACC) is nothing but the cost of equity

In this case the WACC represents the cost of equity

Therefore, cost of equity = WACC = 8%

6 0
3 years ago
D.v.g. (a minor) was injured in a one-car auto accident in hoover, alabama. the vehicle was covered by an insurance policy issue
diamong [38]

Answer:

Yes, the court ruled in favor of D.V.G.'s mother, because of the principle that contracts entered by minors are not void, but voidable, and that they do have an effect on the parties, but if voided, they cannot be enforced.

In this case, the minor died before the contract was ratified by the court, but the minor hadn't voided the contract, so it was still good at the moment of his death. The minor had the chance of either approving or rejecting the contract while still living, and decided not to revoke it.

Explanation:

NATIONWIDE MUTUAL INSURANCE COMPANY and State Farm Mutual Automobile Insurance Company v. Barbara Walker WOOD, as administratrix of the estate of D.V.G., a minor, deceased, and K.C.T., a minor, by and through Earnest T., his father and next friend.  1111486. Decided: February 22, 2013

As this Court has stated, <em>“ ‘[i]t is well settled by the authorities that infants are not liable on any of their contracts, except for necessaries. With the exception, all other contracts of infants, whether executory or executed, may be avoided or ratified at the election of the infant.’ ”</em>

The final ruling was:

<em>"Under Alabama law, an insurance company is bound to a settlement agreement negotiated on behalf of an injured minor, even if that minor dies before the scheduling of the court hearing that all parties agreed was necessary to obtain approval of the settlement agreement. In accordance with the parties' understanding, such a hearing is still required, and the minor's death does not render that hearing impossible. We thus answer in the affirmative the question certified to this Court."</em>

6 0
3 years ago
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