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Mekhanik [1.2K]
2 years ago
11

Tharaldson Corporation makes a product with the following standard costs:Standard Quantity or Hours Standard Price or Rate Stand

ard Cost Per UnitDirect materials 6.3 ounces $ 2.00 per ounce $ 12.60Direct labor 0.4 hours $ 11.00 per hour $ 4.40Variable overhead 0.4 hours $ 6.00 per hour $ 2.40The company reported the following results concerning this product in June.Originally budgeted output 3,300 unitsActual output 2,600 unitsRaw materials used in production 21,300 ouncesPurchases of raw materials 22,400 ouncesActual direct labor-hours 470 hoursActual cost of raw materials purchases $ 42,000 Actual direct labor cost $ 13,300 Actual variable overhead cost $ 3,650 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The labor efficiency variance for June is:rev: 10_25_2017_QC_CS-106922Garrison 16e Rechecks 2017-10-31Multiple ChoiceA. $9,350 FB. $6,270 UC. $9,350 UD. $6,270 F
Business
1 answer:
Crank2 years ago
3 0

Answer:

Direct labor time (efficiency) variance= $6,270 favorable

Explanation:

Giving the following information:

Standard= Direct labor 0.4 hours $ 11.00 per hour

Actual output 2,600 units

Actual direct labor-hours 470 hours

To calculate the direct labor efficiency variance, we need to use the following formula:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Standard quantity= 0.4*2,600= 1,040

Direct labor time (efficiency) variance= (1,040 - 470)*11

Direct labor time (efficiency) variance= $6,270 favorable

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LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The f
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Answer:

See below

Explanation:

a. Estimated ending inventory and cost of goods sold for March

Costs Retail

Beginning inventory $44,000 $66,000

Add:

Net purchases $211,000 $404,000

Less:

Purchase return ($6,000) ($8,000)

Freight in $21,396 $0

Net markups $0 $6,200

Goods available for sale $270,396 $468,200

Less:

Net mark down $0 ($3,900)

Goods available for sale( after markup) $270,396 $464,300

b. Cost to retail percentage using average cost method

= [(Goods available for sale at cost(after markup / Goods available for sale at retail (after markup) ] × 100

= [($270,396 / $464,300)] × 100

= 58.24%

8 0
3 years ago
g Firm X is a monopolist with marginal cost of $5/unit. When maximizing profit, Firm X charges a price of $24/unit. What elastic
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Answer:

Firm X is facing low elasticity of demand at its current level of output.

Explanation:

This is why Firm X is able to set such a high price of $24/unit when its marginal cost is $5/unit.  Usually, a monopolist does not want to set prices and outputs in the inelastic range of the demand curve.  It is always interested in setting profit-maximizing prices and outputs.  Firm X should be wary of setting too high prices because consumers can decide to lower their demand.

7 0
2 years ago
In July 2007 The Wall Street Journal (WSJ) reported that a growing shortage of skilled labor in Eastern European countries such
andrey2020 [161]

Answer:

D) rise in Western European countries and fall in Eastern European countries until the wage rates become more equal.

Explanation:

Two important factors must be considered:

  1. wages in western European nations are still much higher than those in eastern European nations
  2. workers that come from member countries of the European Union may travel freely and work in any country that they can and that belongs to the European Union.

As long as the wages in western European countries continue to be higher and European workers can establish themselves in those counties, the supply of workers will continue to flow from poorer eastern European countries to richer western European countries.

rise in Western European countries and fall in Eastern European countries until the wage rates become more equal.

4 0
3 years ago
Frank has just completed a study in which he gave a survey to each of 7,000 employees and their supervisors in a large bank. His
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Answer:

The declaration is mostly accurate or correct.

Explanation:

  • Task success can be induced by work satisfaction. But that could also be accurate the opposite way round, i.e. work success affects employee satisfaction.
  • The inference reached here does not specify which incident seems to be the reason and which one is the trigger's consequence. A significant direct connection between the two can not be identified. Other than that, there could be other variables that may control the two variables.
8 0
3 years ago
Harrison Inc. applies overhead based on machine hours. Harrison reports the following for the year just ended: Budgeted overhead
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Answer:

idfk

Explanation:

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