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3 years ago

The following labor standards have been established for a particular product:

Business

1 answer:

alexandr1967 [171]3 years ago

3 0

Answer:

a. 7400 U

b. 4120 U

Explanation:

A.Calculation to determine the labor rate variance for the month

Using this formula

Labor rate variance=(SR-AR) * AH

Let plug in the formula

Labor rate variance=[20.60-(153,180/7400)]*7400

Labor rate variance=(20.60-20.70)*7400

Labor rate variance=0.1*7400

Labor rate variance=7400 U

Therefore is Labor rate variance 7400 Unfavorable

b. Calculation to determine the labor efficiency variance for the month

Using this formula

Direct Labor Efficiency Variance = (Actual Direct Labor Hours Worked * Standard Labor Rate) - (Units Produced * Standard Direct Labor Hours per Unit * Standard Labor Rate)

Let plug in the formula

Direct Labor Efficiency Variance = (7400 hours x $20.60) - (1500 units x 4.8 hrs* $20.60)

Direct Labor Efficiency Variance = $152,440 - $148,320

Direct Labor Efficiency Variance = $4,120 UnFavorable

Therefore the labor efficiency variance for the month is $4,120 UnFavorable

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Petty Cash Record and Journal Entries On May 1, a petty cash fund was established for $137.50. The following vouchers were issue

mafiozo [28]

Answer:

1. Dr Petty cash $137.50

Cr Cash $137.50

2. Dr Postage due $ 3.40

Dr Office supplies $13.00

Dr Auto repair (miscellaneous) $40.00

Dr Drawing (Joy Adams) $23.00

Dr Donation (Red Cross) $8.00

Dr Travel expenses $24.00

Dr Postage stamps $3.10

Dr Phone call $4.00

Dr Donation (Boy Scouts) 18.00

Cr Cash $136.50(

3. Dr Petty cash $1.00

Cr Cash $1.00

Explanation:

1. Preparation of the journal entry to establish the petty cash fund.

Dr Petty cash $137.50

Cr Cash $137.50

(Being to establish the petty cash fund)

2. Preparation of the journal entry to Record the vouchers in the petty cash record. .

Dr Postage due $ 3.40

Dr Office supplies $13.00

Dr Auto repair (miscellaneous) $40.00

Dr Drawing (Joy Adams) $23.00

Dr Donation (Red Cross) $8.00

Dr Travel expenses $24.00

Dr Postage stamps $3.10

Dr Phone call $4.00

Dr Donation (Boy Scouts) 18.00

Cr Cash $136.50

($3.40+$13+$40+$23+$8+$24+$3.10+$4+$18)

(Being to Record the vouchers in the petty cash record)

3. Preparation of the journal entry to replenish the petty cash fund.

Dr Petty cash $1.00

Cr Cash $1.00

($137.50-$136.50)

(Being to replenish the petty cash fund)

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3 years ago

____ is any technology that aids in gathering information about a person or organization without their knowledge

Mariulka [41]

<span>SPYWARE is any technology that aids in gathering information about a person or organization without their knowledge. It can also send information to another entity without the consumer's consent. In the internet, it is mostly used for tracking and storing internet users' movements on the Web.</span>

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4 years ago

Monopolists do not worry about efficient production and minimizing costs since they can just pass along any increase in costs to

antoniya [11.8K]

Answer:

a.false; price increases will mean fewer sales, which may lower profits.

Explanation:

In a monopoly market structure, price is the amount customers are willing to pay for a product or service. All things remaining constant, a monopoly has to reduce its prices to increase its sales volume. A Monopoly is the single supplier of particular products and has are no close substitutes.

The Demand curve of a monopoly is the same as the industry's demand curve and is downward sloping. An increase in price will cause a decline in demand. Should the cost of inputs increase for a monopoly, its sales may decrease in it increases its prices. Fewer customers will afford the products of a monopoly at an increased price.

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3 years ago

Emily is a writer, and uses her tablet computer to write a 500-page novel that she sells to a publishing company for $500,000. I

brilliants [131]

Answer:

$24,500,000

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Items not included in the calculation off GDP includes:

1. services not rendered to oneself

2. Activities not reported to the government

3. illegal activities

4. sale or purchase of used products

5. sale or purchase of intermediate products

Contribution to GDP = total revenue of book - cost of selling the book to the publishing company

(25 x 1,000,000) - 500,000 = 24,500,000

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3 years ago

The widespread acceptance that bacteria causes diseases helped lead to a public health movement in the late nineteenth and early

ankoles [38]

Answer:

1. expanded

2. effective workforce

Explanation:

The widespread acceptance that bacteria causes diseases helped lead to a public health movement in the late nineteenth and early twentieth centuries. This movement eventually brought sewers, clean drinking water, and garbage removal to all U.S. cities.

The public health movement in the United States in the late nineteenth and early twentieth centuries was like a technological advance to the country's production possibilities, since both EXPANDED the economy's productive capacity, the former by increasing the nation's EFFECTIVE WORKFORCE .

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3 years ago