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TEA [102]
3 years ago
8

Beverly Company has determined a standard variable overhead rate of $1.25 per direct labor hour and expects to incur 1 labor hou

r per unit produced. Last month, Beverly incurred 1,900 actual direct labor hours in the production of 2,000 units. The company has also determined that its actual variable overhead rate is $1.20 per direct labor hour. Calculate the variable overhead rate and efficiency variances also indicate if the variable are favorable or unfavorable the total amount of over- or underapplied variable overhead.
Business
1 answer:
Elan Coil [88]3 years ago
7 0

Answer:

(i) 95 (F)

(ii) 125 (F)

(iii) 220 (Overapplied)

Explanation:

Variable Overhead Rate Variance:

= Actual Hours × (Actual Rate - Standard Rate)

= 1,900 × ($1.20 - $1.25)

= 95 (F)

Variable Overhead Efficiency Variance:

= Standard Rate × (Actual Hours - Standard Hours)

= $1.25 × (1,900 - 1 × 2,000)

= 125 (F)

Over- or Underapplied Variable Overhead:

= Actual Overhead Incurred - Overhead Applied

= (1,900 × $1.20) - (2,000 × $1.25)

= 220 (Overapplied)

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Answer:

0.5% increase

Explanation:

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The price elasticity of supply (PES) = % change in quantity supplied / % change in price. It measures how the quantity supplied changes in response to a 1% increase in price.

In this case the demand increases, which should result from a decrease in price, but in order to satisfy the demand, the supply must increase and to do so, it will increase only by 1 / (1 + 1) = 1/2 of the original change in quantity demanded = 0.5%

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3 years ago
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Answer:

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8 0
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You are working alone and your shift is due to be over at 6 p.m. The individual who is scheduled to begin working at 6 p.m. does
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Answer:

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