Answer:
<u><em>Value(ending inventory) = Units (ending inventory) × Cost per unit</em></u>
<u><em>= (2600 × 122)</em></u>
<u><em>= $ 317,200</em></u>
Explanation:
Given :
Beginning inventory = 300
Units produced = 15,000
Units sold ($300 per unit) = 12,700
Variable costs per unit:
Direct materials = $20
Direct labor = $60
Variable overhead = $12
Fixed costs:
Fixed overhead per unit produced = $30
Fixed selling and administrative = $140,000
Units in ending inventory = Units in beginning inventory + Units produced - Units sold ($300 per unit)
= $300 + $15000 - $12700
= $2600
Cost per unit = Variable costs per unit + Fixed costs
= (Direct material + Direct labor + Variable overhead) + Fixed overhead per unit produced
= ($20 + $60 + $12) + $30
= $122
Value of ending inventory = Units in ending inventory × Cost per unit
= (2600 × 122)
= $ 317,200
Answer:
Direct labor time (efficiency) variance= $5,400 unfavorable
Explanation:
Giving the following information:
Standard= Direct Labor 0.25 hour $ 7.20 per hour
Actual= 6,000 hours
Number of units= 21,000
<u>To calculate the direct labor efficiency variance, we need to use the following formula:</u>
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (21,000*0.25 - 6,000)*7.2
Direct labor time (efficiency) variance= (5,250 - 6,000)*7.2
Direct labor time (efficiency) variance= $5,400 unfavorable
Answer:
10%
Explanation:
The computation of the rate of return during the year is shown below:
Rate of return = (End year investment price - beginning year investment price + additional investment received) ÷ (beginning year investment price)
= ($120,000 - $100,000 + $10,000) ÷ $100,000
= $10,000 ÷ $100,000
= 10%
Simply we applied the above formula so that the rate of return could come
Answer:
commodity manager
Explanation:
Minerals usually trade in commodity markets along with other natural resources and primary products (e.g. sugar, iron ore, soy bean). A commodity manager is in charge of creating an efficient supply chain that guarantees an uninterrupted supply and the lowest possible purchase cost. A challenge most commodity managers face is the risk associated with commodity suppliers, and they must implement strategies that reduce it.