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dexar [7]
3 years ago
12

The following data relate to product no. 33 of La Quinta Corporation: Direct labor standard: 5 hours at $14 per hour Direct labo

r used in production: 45,000 hours at a cost of $639,000 Manufacturing activity: 8,900 units completed The direct-labor rate/price variance is:
Business
1 answer:
Irina-Kira [14]3 years ago
5 0

Answer:

$9,000 (Unfavorable)

Explanation:

The computation of the direct-labor rate/price variance is given below:

Given that

Actual time used = 45,000 hours

Actual cost of labor used = $639,000

Now  

Actual rate = Actual cost of labor used ÷ Actual time used

= $639,000 ÷ 45,000

= $14.2 per hour

And,

Standard rate = $14 per hour

Standard time = 5 hours per unit

Actual output = 8,900 units

So, standard time for actual output = 8,900 × 5

= 44,500

Now

Direct labor rate variance = Actual time × (Standard rate - Actual rate)

= 45,000 × (14 - 14.2)

= $9,000 (Unfavorable)

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almond37 [142]

Answer:

Debit interest receivable $1,500

Credit interest revenue $1,500

Explanation:

Adjust entries are used in accounting to record accrued revenue or expense at the end of an accounting period.

On March 1, 2021, Bearcat lends an employee $20,000. The employee signs a note requiring principal and interest at 9% to be paid on February 28, 2022.

We are to calculate the adjustment at December 31, 2021.

We need to calculate interest accrued at year end. The loan would have stayed for 10 months.

Interest= principal* rate* time

Interest= 20,000* 0.09* (10/12)

Interest = $1,500

So we will debit interest receivable for $1,500 and credit interest revenue.

5 0
3 years ago
Gold Company was experiencing financial difficulties, but was not bankrupt or insolvent. The National Bank, which held a mortgag
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3 years ago
The following information was obtained from MCB​ Manufacturing, Inc.:Advertising Costs $9,900Indirect Labor 53,000CEO's Salary 6
Eddi Din [679]

Answer:

The MCB Manufacturing's total product costs is $170,560

Explanation:

The computation of the total product cost is shown below:

Total product cost = Indirect Labor + Direct Labor + Indirect Materials Used + Direct Materials Used  + Factory Utilities + Factory Janitorial Costs + Manufacturing Equipment Depreciation

= $53,000 + $40,000 + $7,500 + $65,000 + $760 + $1,200 + $3,100

= $170,560

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8 0
3 years ago
20. The National Response Framework is a comprehensive guide to prevention, protection, response, recovery, and mitigation. A. T
Vlad1618 [11]

Answer:

Answer is option A, i.e. True.

Explanation:

The National Response Framework is a regarded as a comprehensive guide to deal with various emergencies and disasters that may threaten the normal ongoing process of a nation. This guide provides all the details regarding the prevention, protection, response,, and recovery from different types of dangerous situation that might adversely affect the well being of the nation.

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3 years ago
Statement of retained earnings   Hayes Enterprises began 2019 with a retained earnings balance of $ 928 comma 000. During 2019​,
Temka [501]

Explanation:

a. The preparation of the statement of retained earnings for the year ended December​ 31, 2019 is presented below:

                                                   Hayes Enterprises

                                          Statement of retained earnings

                                For the year ended December​ 31, 2019

Beginning balance of retained earning $928,000

Add: Net income $377,000

Less: Cash Dividend paid

Preference stock dividend -$47,000

Common stock dividend $210,000

Ending balance of retained earning       $1,048,000

The common stock dividend is

= $928,000 + $377,000 - $47,000 - $1,048,000

= $210,000

b. The earning per share is

Earning Per share = (Net income - Preferred Dividends) ÷ (Average Common shares outstanding)

= ($377,000 -$47,000) ÷ (140,000 Shares)

= $2.36 per share

C. Dividend per share = Common Stock dividend ÷ Common Shares outstanding

= $210,000 ÷ 140,000 shares

= $1.50

8 0
3 years ago
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