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Hatshy [7]
3 years ago
12

During the most recent month, the following activity was recorded: Twenty thousand pounds of material were purchased at a cost o

f $2.35 per pound. All of the material purchased was used to produce 4,000 units of Zoom. 750 hours of direct labor time were recorded at a total labor cost of $14,925. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month.
Business
1 answer:
svetlana [45]3 years ago
3 0

Answer: See explanation

Explanation:

The following can be derived from the question:

Actual quantity = 20,000 pounds

Actual price = $2.35

Standard price = $2.50 per unit

Actual hours = 750 hours.

The standard quantity will be calculated as:

= 4,000 units × 4.6

= 18,400 pounds

The Actual rate will be calculated as:

= Total labor cost / Actual hours

= $14,925 / 750

= $19.90

Standard hours will be:

= 0.2 hours × 4,000 units

= 800 hours.

Standard rate = $18 per hour

1. Compute the materials price and quantity variances for the month.

Material price variance:

= (AQ × AP) - (AQ × SP)

= (20,000 × $2.35) - (20,000 × $2.50)

= 47000 - 50000

= -3000

Material quantity variance:

= (AQ × SP) - (SQ × SP)

= (20,000 × $2.50) - (18,400 × $2.50)

= 50,000 - 46000

= 4000

2. Compute the labor rate and efficiency variances for the month.

Labor rate variance:

= (AH × AR) - (AH × SR)

= ($750 × $19.90) - (750 × $18)

= 14925 - 13500

= 1425

Labor efficiency variance:

= (AH × SR) - (SH × SR)

= (750 × $18) - (800 × $18)

= 13500 - 14400

= 900

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Answer:

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Explanation:

Marginal utitiy is the increase in utility that is derived from consuming one more unit of a product.

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Answer:

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3 years ago
A monopolistically competitive firm is producing at an output level in the short run where average total cost is $4.75, price is
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Answer: With a loss

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3 years ago
The subject property has a total value of $280,000 by the sales comparison approach. A competitive neighborhood nearby has home
True [87]

The value of the subject land is $84,000.

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<em />

<em>Your question is incomplete. Please read below to find the missing content.</em>

The subject property has a total value of $280,000 by the sales comparison approach. A competitive neighborhood nearby has home sales with a median value of $250,000, and recent lot sales at $75,000. By allocation, what would be the value of the subject land?

$68,000

$76,000

$84,000

$92,500

Learn more about statistics here: brainly.com/question/4219149

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5 0
2 years ago
The following information is available for Rodriguez Industries:
shepuryov [24]

Answer:

$183,200

Explanation:

Given that,

Direct labor = $86,000

Total current manufacturing costs = $381,000

Manufacturing overhead is applied to production:

= 130% of direct labor cost

= 1.30 × $86,000

= $111,800

Total manufacturing costs = Direct material + Direct labor + Manufacturing overhead.

$381,000 = Direct material + $86,000 + $111,800

Direct material = $381,000 - $86,000 - $111,800

                         = $183,200

Therefore, the amount of direct materials used in production is $183,200.

8 0
3 years ago
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