1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
blsea [12.9K]
2 years ago
13

A job was budgeted to require 3 hours of labor per unit at $8.00 per hour. The job consisted of 8,000 units and was completed in

22,000 hours at a total labor cost of $198,000. What is the total labor cost variance?
A. $22,000 unfavorable
B. $16.000 unfavorable.
C. $6,000 unfavorable.
D. $16,000 favorable.
Business
1 answer:
Ymorist [56]2 years ago
4 0

Answer:

Direct labor rate variance= $22,000 unfavorable

Explanation:

Giving the following information:

Standard rate= $8.00 per hour.

Actual= 22,000 hours at a total labor cost of $198,000.

<u>To calculate the direct labor rate variance, we need to use the following formula:</u>

<u></u>

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Actual rate= 198,000/22,000= $9

Direct labor rate variance= (8 - 9)*22,000

Direct labor rate variance= $22,000 unfavorable

You might be interested in
In 2015, the country with the highest GDP per capita in the world was
Musya8 [376]
I think c or d I’m sorry I’m not ver sure
5 0
2 years ago
Read 2 more answers
The _____ is a financial statement that reports the revenues, expenses, and net income or loss that resulted from a firm’s opera
suter [353]

The Income Statement is a financial statement that reports the revenues, expenses, and net income or loss that resulted from a firm’s operations over an accounting period.

<u>Explanation:</u>

The Income Statement is one of the company’s center financial reports that confers their gain and loss over a remarkable time. The gain or loss is circumscribed by practicing all revenues and deducting all liabilities from both working and non-operating exercises.

The income statement is a vital element of a company’s execution reports that need to be yielded to the Securities and Exchange Commission (SEC). An income statement presents worthy insights into a company’s operations, the performance of its management, underperforming areas and its production applicable to industry rivals.

7 0
2 years ago
Jamal Steel, a rapidly growing small steel company with annual revenues of $8 million is looking to buy a large industrial furna
Sloan [31]

Answer:

The correct answer is A. maker.

Explanation:

The manufacturing industry (manufacturing) is the production of added value of merchandise for use or sale using labor and machinery, tools, chemical and biological processes, or formulation. The term can refer to a wide range of human activities, from handicraft to high technology, but it is more commonly applied to industrial production, in which raw materials are transformed into finished products on a large scale. Such finished products can be used to manufacture other more complex products, such as airplanes, appliances or cars, or be sold to wholesalers, which in turn sell them to retailers, which they then sell to end users or consumers.

6 0
3 years ago
assume the fixed overhead per unit was $1.50 for both the beginning and ending inventory. what is net income under absorption co
Nesterboy [21]

Answer:

Net income under absorption costing is <u>$904,370</u>.

Explanation:

Note: This question is not complete and it contains an error in the only available data. The complete correct question is therefore provided before the question is answered as follows:

Kluber, Inc. had net income of $908,000 based on variable costing. Beginning and ending inventories were 55,800 units and 53,600 units, respectively. Assume the fixed overhead per unit was $1.65 for both the beginning and ending inventory. What is net income under absorption costing?

The explanation to the answer is now given as follows:

Variable costing is a costing technique that takes only the variable cost into consideration and exclude the fixed manufacturing overhead from the production production cost of a product.

Absorption costing is a costing technique in which the fixed overhead cost of production is allocated to products produced.

For this question, net income under absorption costing can be determined as follows:

Net income based on variable costing = $908,000

Total beginning fixed overhead = Beginning inventories * Fixed overhead per unit = 55,800 * $1.65 = $92,070

Total ending fixed overhead = Ending inventories * Fixed overhead per unit = 53,600 * $1.65 = $88,440

Adjustment for fixed overhead for the period = Total ending fixed overhead - Total beginning fixed overhead = $88,440 - $92,070 = -$3,630

Net income under absorption costing = Net income based on variable costing + Adjustment for fixed overhead for the period = $908,000 + (-$3,630) = $908,000 - $3,630 = $904,370

Therefore, net income under absorption costing is <u>$904,370</u>.

7 0
3 years ago
Kenny, Inc., is looking at setting up a new manufacturing plant in South Park. The company bought some land six years ago for $7
professor190 [17]

Answer:

$33,540,000

Explanation:

initial investment:

  • opportunity cost of land (resale price of land) = $10,700,000
  • building cost of the facilities = $21,900,000
  • other expenses related to the site (grading) = $940,000
  • total $33,540,000

The purchase cost of the land is considered a sunk costs, since it is not relevant now. What is relevant is the price at which the land could be sold at the moment of starting the project.

7 0
3 years ago
Other questions:
  • Differential Analysis for a Lease or Buy Decision Sloan Corporation is considering new equipment. The equipment can be purchased
    14·1 answer
  • One of the primary advantages of using econometrics over typical results from economic theory is that
    7·1 answer
  • During its first year of operations, Forrest Company paid $44,760 for direct materials and $50,600 in wages for production worke
    5·1 answer
  • Issued a check for $1,010 to pay the monthly rent. Issued a $1,300 check to pay a creditor on account. Purchased new equipment f
    13·1 answer
  • Lisette works for Southwest Petroleum Corp. Her company is responsible for every aspect of setting up a refinery location for it
    10·1 answer
  • Ahmed, a lawyer, sold his car to Carlos. Has an implied warranty of merchantability been created by this transaction? No, becaus
    10·1 answer
  • Task 3: Budget for 25- to 30-year-old Business Professionals
    13·1 answer
  • A company owns a 5-year old turret lathe that has a book value of $20,000. The present market value of the lathe is $16,000. A n
    9·1 answer
  • Bill and Kay are a married couple with $13,000 in total deductions. In 2019 are they better off...
    9·1 answer
  • How many peolpe come in a job in the moring
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!