Answer:
Lost Inventory would be $2.000
Explanation:
Consider the following calculations and variables
- Inventory cost at beginning : $1000
- Purchase : $13,000
- Sales : $20000
- cost of Goods Available = $1000 + $13,000 = $14,000
- Gross Profit percentage is 40%. So Cost of Goods Sold = 100-40 = 60%
- Cost of Goods Sold = $20000 * 60% = $12000
- Ending Inventory = Cost of Goods Available - Cost of Goods Sold = $14000 - $12000 = $2000
Lost Inventory would be $2000
Answer:
5,220 hours
Explanation:
Lets summarize the information first,
Actual Hours = 5,140
Actual Indirect labor cost = $2,056
Spending Variance = $257 Unfavorable
Activity Variance = $28 Favorable
We can reverse work for budgeted labor hours, first for the standard rate,
Spending variance = Actual hours * Standard rate/hour - Actual Overheads
-257 = 5140x - 2056
x = (2056-257)/5140
x = 0.35/hour (This is the standard over head rate )
Activity Variance = Standard rate*Standard hrs - Standard rate*Actual Hrs
28 = 0.35y - 0.35*5140
Solving for y,
y = 1827/0.35
y = 5,220
So budgeted hours for Stolen Horse Corporation were = y = 5,220 hours
Hope that helps.
Personal qualifications, occupational requirement, responsibilities, financial remuneration (pay) , working conditions.
Days off and vacation flexibility are 2 examples of things that fall under the working conditions category.
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