Answer: 1. $690 (favorable)
2. $9045 (favorable)
Explanation: These can be computed as follows :-
Labor rate variance = Actual labor cost - (standard rate * actual hours)
= $139,380 - ( $20.1 * 6900 hours )
= $690 (favorable)
.
Labor efficiency variance = ( Actual hours - standard hours ) * (standard rate )
= [6900 hours - (1500 units * 4.3 hours) ] * ($20.1)
= $9045 (favorable)
It is not a function bc -5 repeats 2x
Answer:
the efficiency variance for variable overhead setup costs is $4,810 favorable
Explanation:
The computation of the efficiency variance for variable overhead setup costs is shown below;
= ((15,700 ÷ 265) × 4.25) × $45 - ((15,700 ÷ 325) × 3) × $45
= $11,330.6604 - $6,521.5384
= $4,809.12 favorable
= $4,810 favorable
hence, the efficiency variance for variable overhead setup costs is $4,810 favorable
Answer:
The accumulated present value is $67,518.99.
Explanation:
Investment opportunities that require a series of payments of a fixed amount for a specific number of periods are known as annuities.
The Present Value of this annuity can be calculated as :
Fv = $0
n = 30
r = 4.2 %
Pmt = - $4,000
P/ yr = 1
Pv = ?
Using a financial calculator, the Present Value (PV) of the annuity is $67,518.9948 or $67,518.99.
It is False that Target costing sets costs based on the price that customers are willing to pay.
Because target costing estimates product cost by subtracting a desired profit margin from a competitive market price. As the target cost makes reference to the competitive market, it is fundamentally customer-focused and an important concept for new product development.
Costing is any system for assigning costs to an element of a business.
Competitive is most commonly used to describe a person who has a strong desire to compete and win.
Development is the act, process, or result of developing the development of new ideas an interesting development in the case.
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