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maw [93]
3 years ago
13

Brummer Corporation makes a product whose variable overhead standards are based on direct labor-hours. The quantity standard is

0.1 hours per unit. The variable overhead rate standard is $8.00 per hour. In January the company produced 8,700 units using 910 direct labor-hours. The actual variable overhead rate was $7.90 per hour. The variable overhead rate variance for January is:
Business
1 answer:
IRISSAK [1]3 years ago
6 0

Answer:

$91 favorable

Explanation:

Variable overhead rate variance = (Standard variable overhead rate - Actual variable overhead rate) * Actual hour worked

Therefore, we have:

Variable overhead rate variance = ($8.00 - $7.90) * 910 = $91 favorable

Note: the variable overhead rate variance is said to be favorable becasue standard variable overhead rate is geater than the actual variable overhead rate.

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Masteriza [31]

Answer:

  • Paul Donut Franchisee : Perfectly Elastic Supply
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  • Bright Ideas Lightbulbs : Perfectly Inelastic Supply

Explanation:

Price Elasticity of Supply is sellers' quantity supplied response to price change. P(Es) = % change in supply / % change in price.

Supply can be classified by Price Elasticity of Supply, as undermentioned :

  1. Elastic Supply : P(Es) > 1 ; % change in supply > % change in price
  2. Inelastic Supply :  P(Es) < 1 ; % change in supply < % change in price
  3. Unitary Elastic : P (Es) = 1 ; % change in supply = % change in price
  4. Perfectly Elastic Supply : P(Es) = ∞ ; Supply responds infinitely to any slight price change & so prices are constant.
  5. Perfectly Elastic Supply : P (Es) = 0 ; Supply responds negligibly to massive price change & so quantity supplied is constant
  • Paul Donut Franchise : Unlimited Supply at constant price, so supply perfectly elastic
  • P & G facial tissues : % change in supply i.e 66% > % change in price i.e 10% , so supply is elastic
  • Papermate pens : % change in supply i.e 10 % < % change in price i.e 15% , so supply is inelastic
  • Bright Ideas Lightbulbs : % change in supply 15% negligible in relation to 400% price change , so supply is perfectly inelastic
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Most plants want to have their supplies delivered just before they are needed to be used in production
vovangra [49]

Answer:

  True

Explanation:

The modern notion of "just in time" material delivery supports reduction of inventory and its associated costs. Plants that have sufficiently steady raw material usage will prefer supplies delivered "just in time."

Plants that have wildly varying production schedules or product mix may prefer a generous "safety stock." They may also prefer a generous supply inventory if their supply chain is unreliable.

It is true that most plants <em>want</em> to have supplies delivered just in time, but circumstances may make needs differ from wants.

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Question 16 (3 points) The 2011 and 2012 Balance Sheets for Jacob, Inc. contained the following entries: 12/31/201112/31/2012 Ac
maria [59]

Answer:

$2,857

Explanation:

Cost of goods sold (COGS) refers to the relevant cost incurred to acquire or produce the products being sold a company during a particular period.

The formula for calculating the COGS is as follows:

COGS = Beginning inventories + Purchases - Ending inventories

From the question, we have the following for 2012:

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Therefore, we have:

COGS for 2012 = $590 + $2,770 - $503 = $2,857

Therefore, Jacob should record $2,857 as Cost of Goods Sold (COGS) on its 2012 income statement.

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