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
Diano4ka-milaya [45]
2 years ago
13

Mauritiana uses standard costing for her shawls. She expects that a typical shawl should take 4 hours to​ produce, and the stand

ard wage rate is $ 10.00 per hour. An average shawl uses 12 skeins of wool. Marina shops around for good​ deals, and expects to pay $ 3.30 per skein. Mauriona uses a​ just-in-time inventory​ system, as she has clients tell her what type and color of wool they would like her to use. For the month of​ April, Mauriona​'s workers produced 200 shawls using 784 hours and 3 comma 360 skeins of wool. Mauriona bought wool for $ 10 comma 420 ​(and used the entire​ quantity), and incurred labor costs of $ 8 comma 100Calculate the price and efficiency variances for the wool and the price and efficiencyvariances for direct manufacturing labor.2. Record the journal entries for the variances incurred.
Business
1 answer:
PSYCHO15rus [73]2 years ago
7 0

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

She expects that a typical shawl should take 4 hours to​ produce, and the standard wage rate is $ 10.00 per hour. An average shawl uses 12 skeins of wool. Marina shops around for good​ deals, and expects to pay $ 3.30 per skein.

For ​ April, Mauriona​'s workers produced 200 shawls using 784 hours and 3,360 skeins of wool. Mauriona bought wool for $ 10,420 ​(and used the entire​ quantity), and incurred labor costs of $ 8,100.

1)

Direct material price variance= (standard price - actual price)*actual quantity

Actual price= 3.10

Direct material price variance= (3.3 - 3.10)*3,360= $672 favorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= [(12*200) - 3,360]*3.3= $3,168 unfavorable

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

Direct labor efficiency variance= [(4*200) - 784]*10= $160 favorable

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

Direct labor price variance= (10 - 10.33)*784= 258.72 unfavorable

2)

Work in process                                        7,924                      

Direct material quantity variance            3,168

Direct material price variance                                        672

Material inventory                                                           10,420          

Work in process              8,000

Direct labor price variance       260

Direct labor efficiency variance              160

Wages payable                                      8,100

You might be interested in
essay question business studies describe the following economic issues hiv and aids piracy strikes porverty​
photoshop1234 [79]

They are problems that come from social/people and economic/money
Businesses face increased costs of finding/recruiting/training replacements.
• The pool of available skilled workers is getting smaller due to the high rate of HIV
infection.
• The costs of finding replacement employees and recruiting are high.
• Business need to invest money in programmes to educate the workers regarding


Costs such as insurance/retirement funds/health/safety are higher as a result of HIV for
the business.
• Businesses face increased costs of paying benefits like housing subsidies, medical care,
funeral care and pension funds.
• Staff morale might be low as they are concerned about their health thus lowering productivity
6 0
2 years ago
The principle of exceptions allows managers to focus on correcting variances between________.
Amiraneli [1.4K]

Answer:

b.standard costs and actual costs.

Explanation:

the principle of exceptions allows managers to focus on correcting variances between standard costs and actual costs.

6 0
2 years ago
Financial incentives paid to health care organizations to encourage focus on models of care that increase quality at a reasonabl
sweet [91]

The financial incentives which are paid to organizations in the healthcare sector to increase quality of models of care are called Performance-based payment programs.

<h3>What are Performance-based payment programs?</h3>

These are programs that are meant to increase the quality of care offered to people by the health care sector.

They involve paying health care organizations financial incentives to come up with better ways of giving care.

Find out more on Performance-based payment programs at brainly.com/question/6981846.

4 0
2 years ago
A statistic is said to be unbiased if:
neonofarm [45]
B. The mean of its sampling distribution is equal to the true value of the parameter being estimated
5 0
3 years ago
Social surplus is maximized when all buyers with the reservations values ___________ than the market price are actually making p
nikklg [1K]

Answer:

highest-value; lowest-cost

Explanation:

Social surplus  can be define as the rate, amount of value or utility(which are welfare)  a society has gotten from goods and services consumption. It is not not like money or resource.

it is also referred  as economic surplus. it is  the summation of the sum of consumer surplus and producer surplus. The economic surplus is referred to as welfare package in full

5 0
3 years ago
Other questions:
  • What is customer service? A. interacting with customers B. interacting with employees in a company C. researching people’s wants
    9·2 answers
  • Soundgarden Company sold 200 color laser copiers on July 10, 2020, for $4,000 apiece, together with a 1-year warranty. Maintenan
    5·2 answers
  • Carlisle State College had the following account balances for the year ended and as of June 30, 2018. Debits are not distinguish
    12·1 answer
  • Suppose you need $1 million dollars to start your dream business. Describe two ways you would generate the funds needed to start
    13·1 answer
  • In order for a taxpayer to be able to deduct the loss on a business activity in which she is an owner, she must demonstrate that
    7·1 answer
  • Excerpts from Dowling Company's December 31, 2021 and 2020, financial statements and key ratios are presented below (all numbers
    14·1 answer
  • What happens to the chart as you update its data table?
    10·2 answers
  • Jessica and her friends are 16 years old like to shop at Aeropostale, which is a clothing store targeted to teens and young adul
    6·1 answer
  • make price and output decisions without regard to what their competitors might do. have no perceptible influence on the market p
    14·1 answer
  • Please answer ASAP:
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!