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3 years ago

What is the difference between time work and piece work rates

Business

2 answers:

bearhunter [10]3 years ago

8 0

Answer:

the process by which green plants turn carbon dioxide and water into food using energy from sunlight

Alina [70]3 years ago

7 0

Answer: Time rate system is a method of wage payment to workers based on time spent by them for the production of output. Piece rate system is a method of wage payment to workers based on the quantity of output they have produced.

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Hula’s Heavyweights, Inc., is a company that manufactures forklifts. During the year, Hula’s purchased $1,450,000 of direct mate

ki77a [65]

Answer:

Ending Inventory = $ 270,000

Explanation:

Hula’s Heavyweights, Inc.

Forklifts Manufacturers

Ending Balance In Inventory Account

Hula's beginning Balance = $ 320,000

Add Direct Materials Purchased = $ 1,450,000

Material Available for use= $ 1770,000

Less Direct Material issued for production = $ 1500,000

Ending Balance in Inventory Account = $ 270,000

The ending inventory of Hula's Heavyweight , Inc., is $ 270,000

5 0

3 years ago

Donham Corporation had $25,000 of raw materials on hand on May 1. During the month, the Corporation purchased an additional $65,

BlackZzzverrR [31]

Answer:

d. $66,000

Explanation:

Raw Material requisition = $66,000

Raw Material requisition is transferred to work in process account by following entry

Dr. Cr.

Work in process $66,000

Raw Material Inventory $66,000

The debits to the Work in Process account as a consequence of the raw materials transactions in May is $66,000.

8 0

4 years ago

Ramkissoon Midwifery's cost formula for its wages and salaries is $2,060 per month plus $442 per birth. For the month of July, t

OlgaM077 [116]

Answer:

option (a) $2,052 U

Explanation:

Data provided in the question:

Ramkissoon Midwifery's cost formula for its wages and salaries

= $2,060 per month + $442 per birth

Total number of births = 117

Actual births = 114

Actual wages and salaries for the month = $54,500

Now,

Spending variance = standard cost - Actual cost

= ( $2,060 × 1 ) + ( $442 × 114 ) - $54,500

= $2,060 + $50,388 - $54,500

= - $2052 or $2,052 U

Hence,

The answer is option (a) $2,052 U

6 0

3 years ago

The outstanding bonds of Riverside Tires Inc. provide a real rate of return of 5.6 percent. If the current rate of inflation is

Leya [2.2K]

Answer: 10.54%

Explanation:

The Real rate of return is calculated as;

(1 + Real Rate) = (1 + Nominal Rate) / (1 + Inflation Rate)

1 + 0.056 = ( 1 + n) / ( 1 + 0.0468)

1.056 = (1 + n) / 1.0468

1.1054208‬ = 1 + n

n = 0.1054208

n = 10.54%

8 0

4 years ago

In preparing its May 31, 2020 bank reconciliation, Sheffield Corp. has the following information available:

Tanya [424]

Answer:

c. $42900

Explanation:

Calculation to determine what the correct balance of cash at May 31, 2020 is

Using this formula

Correct balance of cash =Balance per bank statement, 5/31/20+Deposit in transit, 5/31/20-Outstanding checks, 5/31/20

Let plug in the formula

Correct balance of cash=$41000+5900-4000

Correct balance of cash= $42900

Therefore correct balance of cash at May 31, 2020 is:$42900

3 0

3 years ago

What is the difference between time work and piece work rates​

What is the difference between time work and piece work rates