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Diano4ka-milaya [45]
3 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]3 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

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Answer:

$287.01

Explanation:

The 2 stage dividend discount model would be used to determine the current value of the stock.

first stage

Present value in year 1 = (1.6 x 1.16) / 1.071 = 1.73

Present value in year 2 = (1.6 x 1.16²) / 1.071² = 1.88

Present value in year 3 = (1.6 x 1.16³) / 1.071³ =2.03

Present value in year 4 = (1.6 x 1.16^4) / 1.071^4 = 2.20

second stage

[ (1.6 x 1.16^4) x (1.06) ] / (0.071 - 0.06) = 279.17

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4 0
2 years ago
Curtis invests $250,000 in a city of Athens bond that pays 7 percent interest. Alternatively, Curtis could have invested the $25
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Answer:

7%

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7 0
3 years ago
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You recently began a job as an accounting intern at Raymond Adventures.
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Answer:

Beginning cash balance for  March= $20,000

Cash collections for February =$90,600

Total cash available for March =$102,300

Cash payments (purchase inventory)  for February =$50,800

Cash payments (operating expenses) for March =$37,900

Total cash payments for March =$79,400

Ending cash balance before

financing for February =$8,400

Cash excess (deficiency) for February and March =$- 11,600 $2,900

New borrowings  for February and March

=$11,600 $0

Debt repayments for February and March

=$0 -$2,900

Interest payments for February  and March

=$0    $0

Ending cash balance for February  and March (1) + (2) =$20,000 $20,000

Explanation

Preparation of  Raymond Adventures

Combined Cash Budget for February and March

Raymond Adventures Combined Cash Budget for  February  and  March

Beginning cash balance 16,500 20,000

Plus: Cash collections 90,600 80,200

Plus: Cash from sale of plant assets 0 2,100

Total cash available 107,100 102,300

Less: Cash payments

(purchase inventory) 50,800 41,500

Less: Cash payments

(operating expenses) 47,900 37,900

Total cash payments 98,700 79,400

(1) Ending cash balance before

financing 8,400 22,900

Minimum cash balance desired 20,000 20,000

Cash excess (deficiency) -11,600 2,900

Financing:

Plus: New borrowings 11,600 0

Less: Debt repayments 0 -2,900

Less: Interest payments 0 0

(2) Total effects of financing 11,600  -2,900

Ending cash balance (1) + (2) 20,000 20,000

Beginning cash balance for  March

Minimum cash balance desired March 20,000

Calculation for Cash collections for February

Total cash available 107,100-Beginning cash balance 16,500=90,600

Calculation for Total cash available for March

Beginning cash balance 20,000

Plus: Cash collections  80,200

Plus: Cash from sale of plant assets  2,100

=102,300

Calculation for Cash payments (purchase inventory)  for February

Total cash payments 98,700 -Cash payments

(operating expenses) 47,900

=50,800

Calculation for Cash payments (operating expenses) for March

Total cash payments for March 79,400-Cash payments(purchase inventory) for March 41,500

=37,900

Calculation for Total cash payments for March

Total cash available for March  102,300-Ending cash balance before

financing for March 22,900

=79,400

Calculation for the Ending cash balance before

financing for February

Total cash available 107,100-Total cash payments 98,700

=8,400

Calculation for Cash excess (deficiency) for February and March

Ending cash balance before

financing 8,400 22,900

Less Minimum cash balance desired 20,000 20,000

=- 11,600 2,900

New borrowings  for February and March

11,600 0

Debt repayments for February and March

0 -2,900

Interest payments for February  and March

0    0

Calculation for Ending cash balance for February  and March (1) + (2)

(1) Ending cash balance before

financing 8,400 22,900

Add (2) Total effects of financing 11,600  -2,900

=20,000 20,000

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3 years ago
Briefly discuss Sherif’s (1966) classic study of boys at summer camp in terms of findings and implications for understanding com
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Sherif’s (1966) classic Robbers Cave study of boys at summer camp finds the relationship between the two groups of boys immediately deteriorated when the event began.

In the 1940s and 1950s, social psychologist Muzafer Sherif and his associates conducted a number of investigations, including the Robbers Cave experiment. Sherif investigated the interactions between male groups at summer camps and a competitor group with the hypothesis that "when two groups have competing purposes... their members would become antagonistic to one other even when the groups are constituted of normal well-adjusted individuals at a summer camp " The Robbers Cave study found the incident swiftly escalated once the parties started throwing jabs. The Sherif discovered that the summer camps' surveys, in which they were asked to score their own team and the opposing team on good and bad attributes, contained questions about group animosity.

Learn more about Sherif here:

brainly.com/question/14407858

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1 year ago
Which of the following statements is FALSE regarding resignations in the workplace? The most qualified employees are often the o
Musya8 [376]

Answer:

The correct option is the statement that reads " If a firm commits to making its environment a good place to work,workers will not leave"

Explanation:

The most qualified employees are always been poached because of the value they add to any organization,hence the first statement is absolute truth.

The second statement  is wrong because there the best working environment cannot stop people from resigning,what in case someone needs to study masters abroad?

A certain level of turnover is healthy since it paves from for new hands with fresh perspective to be hired.

However, when turnovers becomes excessive,it implies a fundamental problem with the workplace.

7 0
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