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
irakobra [83]
3 years ago
13

Amos, Inc. uses a standard cost system with the following labor standards for one unit of product: standard hours 0.2 and standa

rd wage rate $11. During January, Amos incurred 3,781 hours of direct labor and paid $41,066 in wages in production of 18,400 units. Calculate the direct labor rate and efficiency variances and indicate whether the variances are favorable or unfavorable.
Business
1 answer:
andriy [413]3 years ago
7 0

Answer:

$529.34 favorable and $1,111 unfavorable

Explanation:

The computation of the direct labor rate variance is shown below:  

= Actual Hours × (Actual rate - standard rate)  

= 3,781 hours × ($41,066 ÷ 3,781 hours  - $11 per hour)  

= 3,781 hours  × ($10.86 per hour  - $11 per hour)  

= $529.34 favorable

And, the efficiency variance is

= (Standard hours - Actual hours) × standard rate

where,

Standard hours is

= 18,400 units × 0.2

= 3,680 hours

Actual hours is 3,781 hours

So, the efficiency variance is

= (3,680 hours - 3,781 hours) × $11

= $1,111 unfavorable

You might be interested in
Each of the following is a disadvantage of buying rather than making a component of a company's product except that Select one:
shtirl [24]

Answer:

The correct answer is letter "C": Profitable product lines may be dropped.

Explanation:

The decision of making a product in-house or relying on an outsourcing manufacturer is evaluated mainly by comparing the costs that handling a new production line carries. While outsourcing can save a company a great amount of money in <em>labor, equipment, materials, </em>and <em>knowledge</em>, quality control is not managed directly.  

However, <em>a new line of components in-house implies incurring in most costs that could conflict the production of existing profitable product lines that could see their numbers reduce gradually until the product drops.</em>

6 0
3 years ago
What type of tax system does the United States use?<br> ​
Basile [38]

Answer: Progressive tax system

Explanation: The progressive tax system is where the income of an individual is taxable based on his or her capacity to pay. The individuals who earn less pay lesser tax as compared to higher-earning individuals.

The tax system doesn’t impose a burden on those who don’t have a sufficient amount to pay as taxes. By doing this the people who earn low income will be able to maintain a high living standard and the people who earn more are able to afford the basic necessities. So it balances the economy.

8 0
3 years ago
Barb's Bakery made $200 last month selling 100 loaves of bread. This month it made $300 selling 60 loaves of bread. What is the
Virty [35]
The answer will be 150 dollars
5 0
3 years ago
The right side of the balance sheet shows the firm's liabilities and stockholders' equity. Which of the following best describes
Leokris [45]

Answer:

1. Equity is the difference between the company's assets and liabilities.

2. D. $83

Explanation:

Req. A

We know,

The accounting equation is

Total asset = total liabilities + total stockholders' equity

Therefore, total asset - total liabilities = total stockholders' equity

So, we can say that equity is the difference between the company's assets and liabilities. However, equity cannot be claimed before the liabilities. Therefore, the option "A" is the correct answer.

Req. B

                          Now Inc.

      Statement of retained earnings

For the year ended, December 31, 20XX

Beginning retained earnings (Last year)                $527

Add: Net Income (Current year)                                 176

Less: Dividend (Balancing)                                   <u>     </u><u>(83)</u>

Ending retained earning (Current year)                 $620

Calculation: $(527 + 176 - 620) = $83

Therefore, the option "D" is the correct answer.

3 0
3 years ago
What effect do rising input costs have on the price of a good.
Genrish500 [490]

Answer:

Explanation:

Inputs are the factors required for production to take place. They may include labor and raw materials. In economics, inputs are the four factors of production that include land, labor, entrepreneurship, and capital.

The final cost of a product is dependent on the costs of production. The cost of production is an aggregation of the cost of each input used in the production. For a company to stay in operation, it must meet all its production costs. These costs are spread to each unit produced.  A high production cost will result in an expensive product. Should the cost of any of the input increase, then the overall cost of the products will rise.

4 0
3 years ago
Other questions:
  • Your family runs a specialty ice cream parlor, Scoops. It manufactures its own ice cream in small batches and sells it only in p
    6·1 answer
  • According to the aggregate demand curve, when the aggregate price level _____, the quantity of aggregate output _____. rises; de
    11·1 answer
  • "a study by the international franchises association reports that minorities own more than ________ percent of all franchises an
    12·1 answer
  • The Anti-Federalists wanted to
    9·2 answers
  • How can knowledge of call options help a financial manager to better understand warrants and convertibles
    7·1 answer
  • Twelve years ago, the Archer Corporation borrowed $6,200,000. Since then, cumulative inflation has been 80 percent (a compound r
    13·1 answer
  • The market for laundry detergents in a country has several​ players, each with a slightly differentiated product. Squeaky Clean​
    10·1 answer
  • If 2G Robotics is bought by another firm and Gillham decided to allocate a total of 400 points to employees, and the value of th
    9·1 answer
  • Networking is a key benefit to a college education.which of the following is not an example of a networking benefit
    9·1 answer
  • A financial statement is a summary of all the financial transactions that have occurred over a particular period. Also financial
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!