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Paul [167]
3 years ago
15

Direct Labor Cost Budget Pasadena Candle Inc. budgeted production of 33,000 candles for January. Each candle requires molding. A

ssume that two minutes are required to mold each candle. If molding labor costs $9.75 per hour, determine the direct labor cost budget for January. Round total direct labor cost to the nearest dollar, if required. Pasadena Candle Inc. Direct Labor Cost Budget For the Month Ending January 31 Hours required for assembly: Candles min. Convert minutes to hours ÷ min. Molding hours hrs. Hourly rate × $ Total direct labor cost $
Business
1 answer:
djverab [1.8K]3 years ago
7 0

Answer:

Total direct labor cost = $16,087.50

Explanation:

Production = 33,000 candles

Minute per candle = 3 minutes

Total minute to produce 33,000 Candle = 33,000 candles * 3 minutes = 99,000 Minutes

Total hours for production = 99,000 / 60 minutes = 1,650 hours

Hence, molding hours = 1,650 hours

Total direct labor cost = Molding hours * Molding labor costs per hour

Total direct labor cost = 1,650 hours * $9.75

Total direct labor cost = $16,087.50

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Harvey's Wholesale Company sold supplies of $46,000 to Northeast Company on April 12 of the current year, with terms 1/15, n/60.
victus00 [196]

Answer:

D) Cash 45,540 Accounts receivable 45,540

Explanation:

The journal entry is shown below:

Cash A/c Dr $45,540

        To Accounts receivable A/c  $45,540

(Being cash is received in respect of goods sold)

The computation is shown below:

= Sold value of supplies - the sold value of supplies × discount percentage

= $46,000 - $46,000 × 1%

= $46,000 - $460

= $45,540

Since the net method is used so we debited the cash account and credited the account receivable account.

8 0
3 years ago
The budget for the month of May was for 11,200 units at a direct materials cost of $19 per unit. Direct labor was budgeted at 28
rjkz [21]

Answer:

Direct labor price(rate) variance = $1,675  (unfavorable)

Direct labor efficiency variance = 0

Explanation:

As per the data given in the question,

Number of units = 11,200

cost = $19 per unit

Labor budgeted = at 28 minutes per unit

Total budget = $100,800

Actual output = 8,900 units

Direct material expense = $137,500

Direct labor expense = $81,775

As per the following formula,

Direct labor price variance = (Actual price - Standard price) × Actual hour

= ($81,775 ÷ 8900 × 2 - $100,800 ÷ 11,200 × 2) × 8,900 ÷ 2

= $1,675  (unfavorable)

Direct labor efficiency variance = (Actual hour - Standard hour) × Standard price

= (8,900 × 28 ÷ 60 - 8,900 × 28 ÷ 60 ) × $100,800 ÷ 11,200 × 2

= 0

5 0
3 years ago
In a period of falling interest rates, a bond dealer would engage in which of the following activities?I Raise prices in interde
vredina [299]

Answer:

C. I, II, III

Explanation:

In a period of falling interest rates, a bond dealer would engage in all of the following activities except for IV. Therefore, a dealer would raise his quoted price in Bloomberg. If the dealer has an appreciated bond that he wishes to sell, he can place ''Request for Bids'' for those bonds in Bloomberg. The dealer may buy bond the he has previously sold short to limit losses due to rising price. To protect existing short position against the rising price, the dealer will buy call options, not put options. Put options are used in protecting existing long position from falling price.

8 0
3 years ago
Western Union is in the business of providing a medium for international money transfers. Through the services of Western Union,
tatiyna

Answer: core service

                                                 

Explanation: In simple words, core service refers to the service which are of highly value and importance to the user or provider or both.

These services are considered be essential for smooth operations of an economy or the organisation as the case may be.

In the given case, Western union has the business of transferring payments internationally. Hence we can conclude that they are providing the core service of their business.

5 0
3 years ago
Whitmer Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.07 direct labo
professor190 [17]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Each unit of output requires 0.07 direct labor-hours. The direct labor rate is $8.70 per direct labor-hour. The production budget calls for producing 6,000 units in February and 6,500 units in March.

We need to determine the total direct labor hours needed for each month.

February:

Total direct labor hours= 6,000*0.07= 420 hours

Total direct labor costs= 420*8.7= $3,654

March:

Total direct labor hours= 6,500*0.07= 455 hours

Total direct labor costs= 455*8.7= $3,958.5

7 0
3 years ago
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