Answer:
Variable overhead efficiency variance= $600 unfavorable
Explanation:
Giving the following information:
Standard rate per direct labor-hour $2
Standard direct labor-hours for each unit produced 3
Units manufactured 1,000
Actual direct labor-hours worked during the month 3,300
<u>To calculate the variable overhead efficiency variance, we need to use the following formula:</u>
<u></u>
Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate
Variable overhead efficiency variance= (1,000*3 - 3,300)*2
Variable overhead efficiency variance= $600 unfavorable
Answer:
Dr Factory Overhead $29,200
Cr Materials 8800
Cr Wages payable 6600 Cr Utilities Payable 4800
Cr Accumulated Depreciation-Factory 9000
Explanation:
Preparation of the entry to record the factory overhead incurred during May.
Dr Factory Overhead $29,200
($8,800 + $6,600 + $4,800 + $9,000)
Cr Materials 8800
Cr Wages payable 6600 Cr Utilities Payable 4800
Cr Accumulated Depreciation-Factory 9000
(To record the factory overhead incurred during May)
Given that <span>Pierre
is a foreman in a plant. he has 25 line workers who report to him on
the night shift.
From what you have read about organization charts, what you know for sure is that Pierre has a wide span of control.
Span of control refers to the </span><span>number of subordinates that a manager or supervisor can directly control.
</span>
Answer:
1. 45.5%
2. 13.3%
3. 7.2%
Explanation:
The formulas and calculations are shown below:
1. Gross margin = (Sales - cost of sales) ÷ (sales) × 100
= ($10.1 million - $5.5 million) ÷ ($10.1 million) × 100
= ($4.6 million) ÷ ($10.1 million) × 100
= 45.5%
Gross profit = Sales - cost of sales
2. Operating margin = (Gross profit - selling, general and administrative expenses - research and development - annual depreciation charges) ÷ (sales) × 100
= ($4.6 million - $460,000 or $0.46 million - $1.4 million - $1.4 million) ÷ ($10.1 million) × 100
= ($1.34 million) ÷ ($10.1 million) × 100
= 13.3%
Operating income = Gross profit - selling, general and administrative expenses - research and development - annual depreciation charges
3. Net profit margin = (Operating income - taxes) ÷ (sales) × 100
= ($1.34 million - $0.6097 million) ÷ ($10.1 million) × 100
= ($0.7303 million) ÷ ($10.1 million) × 100
= 7.2%
The income tax expense = Operating income × income tax rate
= $1.34 million × 45.5%
= $0.6097 million
Answer:
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Explanation:
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