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
insens350 [35]
2 years ago
6

During January, Ajax Co. incurs 1,850 hours of direct labor at an hourly cost of S11 output is t 100 units of its finished produ

ct. Ajax standard labor cost per unitor (2 hours x $11.00). Instructions
Compute the total, price, and quantity labor variances for Ajax Co. for January.
Business
1 answer:
bearhunter [10]2 years ago
5 0

Answer and Explanation:

The computation is shown below:

For the labor price variance

= Actual Hours × (Actual rate - standard rate)  

= 1,850 × ($11.80 per hour - $11 per hour)  ,

= 1.850 × $0.80 per hour

= $1,480 unfavorable

For labor quantity variance

= Standard Rate × (Actual hours - Standard hours)  

= $11 × (1,850 hours - 2,000 hours)  

= $11 per hour × - 150hours

= $1,650 favorable

Now total would be

= Labor price variance + labor quantity variance

= $1,480 unfavorable + 1,650 favorable

= $170 favorable

You might be interested in
What is compounding interest?
Svetlanka [38]

Answer:

d

Explanation:

the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.

4 0
2 years ago
According to the terminology associated with changes in currency values, which of the following choices is the case when a curre
patriot [66]

Answer:

C) devaluation and revaluation

Explanation:

Devaluation and revaluation is the way that government changes the exchange rate of it's currency in relation to others.

Devaluation is the reduction of the exchange rate of a countrie's currency usually against the United States dollar. This reduces the currency value in relation to the foreign currency.

Revaluation on the other hand is when a country increases the exchange rate, making the value higher against foreign currency.

6 0
3 years ago
In need of extra​ cash, Troy and Lily decide to withdraw ​$2 comma 100 from their traditional IRA. They are both 40 years old. T
krek1111 [17]

Answer:

Calculate the tax consequence of withdrawal from retirement account.

T and L are 40 years old and decide to withdraw $2,100 from their IRA. They lie in a 35% marginal tax bracket.

Analysis

They are withdrawing some amount from their retirement fund. They have to pay the tax and penalty for early withdrawals from the retirement fund. The withdrawal amount is $2,100 so they have to pay tax on it. The tax rate will be 35% which is their marginal tax bracket.

Calculation of tax consequences if withdrawal amount is $2,100:

Ordinary income tax amount calculates by multiplying the withdrawal amount with the ordinary tax rate.

= $2100 × 35%

= $735

The withdrawal amount attracts the 10% penalty. So, the penalty amount is calculated as follows: Penalty on withdrawn funds calculates by multiplying the withdrawn funds with the percentage of penalty.

= $2100 × 10%

= $210

(NOTE: - T and L have to pay ordinary income tax along with the penalty on their withdrawal because they are withdrawing funds from their IRA before age 59.5.)

Total expenses include the tax amount and penalty charge on withdrawal amount. So, it is calculated as follows:

Total expenses =$735 + $210

Total expenses = $945

Conclusion

Therefore, T and L would incur a tax of $945 on their withdrawal. This $945 is the sum of income tax amount and penalty on withdrawal balance.

8 0
2 years ago
$1,000 par value bond pays interest of $35 each quarter and will mature in 10 years. If your nominal annual required rate of ret
Georgia [21]

Answer:

$1,115.58

Explanation:

Calculation to determine how much should you be willing to pay for this bond

Using this formula

Bond Price​= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]

Where,

Par value= $1,000

Cupon= $35

Time= 10*4= 40 quarters

Rate= 0.12/4= 0.03

Let plug in the formula

Bond Price​= 35*{[1 - (1.03^-40)] / 0.03} + [1,000/(1.03^40)]

Bond Price​= 809.02 + 306.56

Bond Price​= $1,115.58

Therefore how much should you be willing to pay for this bond is $1,115.58

6 0
3 years ago
The Keynesian view of economics assumes that:
olga nikolaevna [1]

Answer:

The correct answer is

b. wages are sticky.

good luck

7 0
3 years ago
Other questions:
  • Explain why it is important to study your industry before developing<br> a business concept.
    14·1 answer
  • In the study of geomorphology, why do we primarily concentrate on processes rather than on distribution patterns by latitude?
    13·1 answer
  • In which situation would you need to compromise to avoid stress and conflict?
    7·2 answers
  • On January 1, Year 1, the Mahoney Company borrowed $168,000 cash from Sun Bank by issuing a five-year 8% term note. The principa
    7·2 answers
  • Which of the following is best characterized as a relative risk objective? A. Value at risk for the Fund will not exceed US$3 mi
    7·1 answer
  • If income increases by 10% and, in response, the quantity of housing demanded increases by 7%, then the income elasticity of dem
    5·1 answer
  • Balance Sheet
    10·1 answer
  • On January 1, 2022, the Ivanhoe Company ledger shows Equipment $48,300 and Accumulated Depreciation $17,720. The depreciation re
    5·1 answer
  • What is the best option for Carmina as she purchases her dream home to enjoy for many years? (5 points)
    14·2 answers
  • The field of accounting that focuses on providing information for external decision makers is.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!