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3 years ago

The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.

Business

1 answer:

Gekata [30.6K]3 years ago

7 0

Answer:

Results are below.

Explanation:

To calculate the direct material price, quantity, and total variance, we need to use the following formulas:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (193 - 190)*1,700

Direct material price variance= $5,100 favorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (1,680 - 1,700)*193

Direct material quantity variance= $3,860 unfavorable

Total variance= Direct material price variance +/- Direct material quantity variance

Total variance= 5,100 - 3,860

Total variance= $1,240 favorable

To calculate the direct labor efficiency, rate, and total variance; we need to use the following formulas:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (4,650 - 4,600)*14.5

Direct labor time (efficiency) variance= $725 favorable

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

Direct labor rate variance= (14.5 - 15)*4,600

Direct labor rate variance= $2,300 unfavorable

Total variance= Direct labor time (efficiency) variance +/- Direct labor rate variance

Total variance= 725 - 2,300

Total variance= $1,575 unfavorable

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Explanation:

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3 years ago

The mass culture theory results from viewing cinema as a(n)? economic institution. social institution. technological institution

Vadim26 [7]

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2 years ago

The _________ is the rate of return a firm must earn on its investments in projects in order to

Vadim26 [7]

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3 years ago

How do people become successful as a real estate developer?

Roman55 [17]

Hello there!

A real estate developer job is to get houses to sell them, get land to build houses and sell them, and get previous owned houses and sell them. They pretty much get property and sell it. As a real estate developer, the main goal that someone should have is to make more money than they paid for the property. This means that they would need to be making profit in order to really see a progress in income.

Let's give you an example when a real estate developer buys a house:

Johan, a real estate developer, bought a house $275,000. He then goes on a website and advertises the house for $285,000.

What Johan is trying to do here is make profit form the house he just purchased, since the extra money he will be getting if the house is sold will be a surplus to the original amount.

Let's give you an example when a real estate developer buys land:

Susan buys 1 acre of land for $1.2 million, she then has a construction crew build a house, and that costed her $750,000.

At the end of the day, Susan spent $1.95 million (1,950,000) on the house in total.

She then sells the house on a website for $2.5 million (2,500,000).

This means that Susan made a surplus of $550,000 from the price she originally payed for.

It's best when a real estate developer sells property for more than what they payed for, so they would be making profit (extra money). It's bad when a real estate developer tries to sell a house for lower than they originally payed for, then they would be losing money. That's why when there is a specific price for a house, a real estate developer usually doesn't want to drop the price of the house any cheaper; they want to stick with their price so they could make money.

A real estate developer could also start their own company, and make more profit if they stick to the trick of selling the property for more than what they paid for. If they stick to the trick, then they would be making even more money since they would have multiple people in a company doing it all at once, in different places too.

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4 years ago

The labor demand curve shows how many workers the firm is willing to hire Group of answer choices at any given wage. into high-s

kakasveta [241]

Answer:

at any given wage

Explanation:

The labour demand curve shows the number of workers that a firm is willing to hire at a given wage rate. The higher the wage, the lower the quantity of labour demanded and the lower the wage, the higher the number of workers hired. For this reason, the labour demand curve is downward sloping

Please check the attached image for a graph showing the labour demand curve

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3 years ago