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The Assembly Department produced 1,000 units of product during March. Each unit required 1.25 standard direct labor hours. There

frutty [35]

Answer:

Debit Work in process for $15,625

Debit Direct labor time variance for $625

Credit Direct labor rate variance for $650

Credit Wage payable for $15,600

Explanation:

Before preparing the journal, the following calculations are done first:

Wage payable = Actual hours * Actual rate per hour = 1,300 * $12 = $15,600

Direct labor time variance = (Actual hours - Standard hours) * Standard direct labor rate = (1,300 - (1,000 * 1.25)) * $12.50 = $625 Unfavorable

Note: Direct labor time variance is Unfavorable because Actual hours is greater than Standard hours.

Direct labor rate variance = (Actual rate - Standard rate) * Actual hours = ($12 - $12.50) * 1,300 = -$650 Favorable

Note: Direct labor rate variance if Favorable because Actual rate is lower than the Standard rate.

Work in process = Wage payable + Absolute value of direct labor rate variance - Direct labor time variance = $15,600 + $650 - $625 = $15,625

The journal entries will now look as follows:

Date Particulars Debit ($) Credit ($)

Mar. 31 Work in process 15,625

Direct labor time variance 625

Direct labor rate variance 650

Wage payable 15,600

(To record the direct labor in the Assembly Department.)

4 0

3 years ago

Michael, a systems analyst, is preparing a closed wiki site for Northstate Bank. He has written permission from eight other comp

AysviL [449]

Answer:

The correct answer is Formal Benchmarking.

Explanation:

The English term "benchmark" comes from the words "bench" (bench, table) and "mark" (brand, sign). In the original meaning of English, the word compound could however be translated as a measure of quality. In other words, benchmarking is a way to determine how well a company performs, compared to others.

In order to be more competitive at present, it is necessary to use benchmarking since it provides strategies that allow identifying the best keys to the company's success, so that by implementing them the organization can be a leading and competitive company in a changing market and global in which business organizations currently have to see each other.

The majority of authors relate benchmarking with competitiveness and business improvement, being "the company" its natural scope. However, the potential benefits of its use make it considered in other areas, such as "public organizations", and at other levels, "sectoral" and "environment" (regional, national and international). This complicates the definition of the concept, since it is a tool that has multiple application possibilities, pursues different objectives in each case, and uses its own methodology in each area.

3 0

3 years ago

________ is the extent to which a firm's internal activities encompass one, some, many, or all activities that make up an indust

Alecsey [184]

Answer:

BE Scoping strategy CC Horizontal scope D.A)Horizontal installation.

6 0

3 years ago

Calculate the ending inventory of chemicals in gallons for December of the prior year, and for January and February. What is the

Annette [7]

The ending inventories of chemicals for each month are 36,135, 33,825 and 41,456 gallons. Also, the beginning inventory for January is 36,135 gallons.

<h3>The table for planned production.</h3>

In order to calculate the ending inventory of chemicals for the three months, we would create a table for planned production as follows:

January February March___

Units to be produced 43,800 41,000 50,250

Direct materials per unit 5.5 5.5 5.5 ___

Total direct materials 240,900 225,500 276,375

Since the company's policy requires ending inventories of raw materials for each month to be 15% of the next month's production needs, we have:

December = 15/100 × 240,900 = 36,135 gallons.

January = 15/100 × 225,500 = 33,825 gallons.

February = 15/100 × 276,375 = 41,456 gallons.

March = Nil.

Also, the beginning inventory of chemicals for January is given by December's ending inventory of 36,135 gallons.

Read more on ending inventory here: brainly.com/question/25947903

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Complete Question:

Patrick Inc. makes industrial solvents sold in 5-gallon drum containers. Planned production in units for the first 3 months of the coming year is:

January 43,800

February 41,000

March 50,250

Each drum requires 5.5 gallons of chemicals and one plastic drum container. Company policy requires that ending inventories of raw materials for each month be 15% of the next month's production needs. That policy was met for the ending inventory of December in the prior year. The cost of one gallon of chemicals is $2.00. The cost of one drum is $1.60. Calculate the ending inventory of chemicals in gallons for December of the prior year, and for January and February. What is the beginning inventory of chemicals for January?

8 0

2 years ago

Gabriel put $6000 in a 2-year CD paying 4% interest, compounded monthly. After 2 years, he withdrew all his money. What was the

NeTakaya

First, we calculate for the effective annual interest given the interest in the scenario.
ieff = (1 + i/m)^m - 1
Substituting the values,
ieff = (1 + 0.04/12)^12 - 1 = 0.0407
The effective interest is equal to 4.07%.

The future amount after 2 years,
F = ($6000) x (1.0407)^2 = $6498.86

5 0

3 years ago

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