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erastova [34]
3 years ago
13

The following labor standards have been established for a particular product: Standard labor-hours per unit of output 8.6 hours

Standard labor rate $ 15.50 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 8,500 hours Actual total labor cost $ 129,200 Actual output 840 unitsWhat is the labor rate variance for the month? F or UWhat is the labor efficiency varaiance for the month? F or U
Business
1 answer:
Artyom0805 [142]3 years ago
4 0

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Standard labor-hours per unit of output 8.6 hours Standard labor rate $ 15.50 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 8,500 hours Actual total labor cost $ 129,200 Actual output 840 units

Actual rate= 129,200/8,500= 15.2

Direct labor price variance= (SR - AR)*AQ

Direct labor price variance= (15.5 - 15.2)*8,500= $2,550 favorable

Direct labor efficiency variance= (SQ - AQ)*standard rate

Direct labor efficiency variance= (7,224 - 8,500)*15.5= $19,778 unfavorable

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Answer:

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As this is a financial instrument, the bank issued a title to the investor to recognize his investment.

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3 years ago
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Even though the moving averages help highlight the long-run trend of a time series, the moving-average model is not designed for
kobusy [5.1K]

Answer:

Moving averages <em>cannot be used to make future forecasts successfully because certain events like demand, supply ,quality and external factors such as competitions</em> cannot be determined with the use of Moving averages, and these factors have a huge impact on prices

Explanation:

Moving averages are generated / obtained using data from events that occurred previously hence they highlight the long-run trend of a time series, but <em>they cannot be used to make future forecasts successfully because certain events like demand, supply ,quality and external factors such as competitions</em> cannot be determined with the use of Moving averages. and these factors have a huge impact on prices

4 0
2 years ago
The following data relate to the Torrence Company for May and August:
Zinaida [17]

Answer:

Total cost= $1,193,000

Explanation:

Giving the following information:

May August

Maintenance hours 25,000 29,000

Maintenance cost $1,175,000 $1,247,000

<u>First, we need to calculate the variable and fixed costs using the following formulas:</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (1,247,000 - 1,175,000) / (29,000 - 25,000)

Variable cost per unit= $18

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 1,247,000 - (18*29,000)

Fixed costs= $725,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 1,175,000 - (18*25,000)

Fixed costs= $725,000

<u>Now, the total cost for 26,000 hours:</u>

Total cost= 725,000 + 18*26,000

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2 years ago
Accounts Randall Company estimates its bad debts expense by aging its accounts receivable and applying percentages to various ag
Crazy boy [7]

Answer:

Explanation:

The journal entry will be:

Debit: Bad debt expense $2500

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Then, we will calculate the net amount of account receivable that should be included in current assets which will be:

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8 0
3 years ago
Choose the statement that is correct. A. The MC curve intersects the AFC​, AVC​, and ATC curves at their minimums. B. Initially
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Answer: C. The ATC curve eventually slopes upward because average variable cost eventually increases

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The Law of Diminishing Marginal Returns causes the Average Total Cost curve to eventually slope upwards because the Average Variable Cost will increase.

Why?

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I have included a simple graph to illustrate.

If you need any clarification do react or comment.

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