Answer:
Direct labor time (efficiency) variance= $22,000 favorable
Explanation:
<u>To calculate the direct labor efficiency variance, we need to use the following formula:</u>
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (3*8,000 - 22,000)*11
Direct labor time (efficiency) variance= (24,000 - 22,000)*11
Direct labor time (efficiency) variance= $22,000 favorable
Answer:
$8,000
Explanation:
The entrepreneur needs $20,000. She can raise 60% from savings. It means she needs to generate 40% from other sources.
40% of $20,000 is
=40/100 x $20,000
=0.4 x $20,000
=$8,000
Given:
Principal, P = 26500
term=5 years
Monthly payment, A = 695
Question: Find interest rate
Solution:
Unless there is a table available, there is no explicit formula to calculate interest. However, the interest rate can be solved for using the formula to calculate the monthly payment, as follows.

Substituting
P=26500
i=monthly interest rate to be found
A=monthly payment=695
n=5*12=60 months

Rearrange to give successive estimates of i by
I(i)=(695/26500)*((1+i)^60-1)/(1+i)^60
Try initial estimate of i=0.02 (2% per month)
I(0.02)=0.0182
I(0.0182)=0.01736
I(0.01736)=0.01689
....
Eventually we get the value to stabilize at i=0.016265, or
Monthly interest =
1.6265% (to four decimal places)
Answer:
the short term, unemployment rates would drop drastically.
Answer:
$6,734
Explanation:
On December 31, there were 46 units remaining in ending inventory.
These 46 units consisted of
6 from January x $123 = 738
8 from February x $133 = 1064
10 from May x $143 = 1430
8 from September x $153 = 1224
14 from November x $163 = 2282
Using the specific identification method, the cost of the ending inventory is: 734 + 1064 + 1430 + 1224 + 2282 = $6734