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Vadim26 [7]
3 years ago
5

The standards for direct labor for a product are 2.5 hours at $8 per hour. Last month, 9,000 units of the product were made and

the labor efficiency variance was $8,000 F. The actual number of hours worked during the past period was:
Business
1 answer:
GrogVix [38]3 years ago
5 0

Answer:

21,500

Explanation:

Given that,

Labor efficiency variance = $8,000 F

Standard Rate = $8 per hour

Standards for direct labor for a product = 2.5 hours

Labor efficiency variance = (Standard Hour for actual output - Actual Hour) × Standard Rate

$8,000 = [(9,000 × 2.5) - Actual Hour] × $8 per hour

1,000 = 22,500 - Actual Hour

Actual hour = 22,500 - 1,000

                   = 21,500

Therefore, the actual number of hours worked during the past period was 21,500.

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Read 2 more answers
Elm Corporation is a merchandising company. The year began with inventory of $32,000, Purchases for the year were $57,000, and t
Alborosie

Answer:

The cost of goods sold that would be reported on the incoem statement is $70000

Explanation:

The cost of goods sold is the value or cost of the inventory that a business sells to its customers. The cost of goods sold for the year can be calculated using the following formula.

Cost of Goods Sold (COGS) = Opening Inventory + Purchases for the year - Closing Inventory

Thus, Elm Corporation has a cost of goods sold to report on this year's income statement of:

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3 years ago
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