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Vlada [557]
3 years ago
9

Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In 2017, MCP estimated the followin

g standard costs for one of their most popular products. Budgeted quantity Budgeted price Direct materials 4 pounds $7.25 per pound Direct labor 0.60 hours $17.00 per hourDuring September, MCP produced and sold 2,000 units using 8,200 pounds of direct materials at an average cost per pound of $7.00 and 1,160 direct labor hours at an average wage of $17.50 per hour. The direct labor efficiency variance during September is ________. $600 favorable $700 unfavorable $680 favorable $100 unfavorable
Business
1 answer:
Tasya [4]3 years ago
7 0

Answer:

See below

Explanation:

The below shows the calculation of variance

Budgeted direct labor (per unit) 0.60

Units 2,000

Budgeted direct total labor (hrs) 1,200

Actual hours 1,160

Standard rate $17

Direct labor efficiency variance

The direct labor efficiency variance

= (Budgeted hours - Actual hours) × Standard rate

= (1,200 - 1,160) × $18

= $720 favourable

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nordsb [41]

Answer:

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2 years ago
You just won the $85 million Ultimate Lotto jackpot. Your winnings will be paid as $3,400,000 per year for the next 25 years. If
Alex Ar [27]

Answer:

PV= $40,716,437.34

Explanation:

Giving the following information:

Cash flow= $3,400,000 per year

Number of years= 25

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FV= {A*[(1+i)^n-1]}/i

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6 0
3 years ago
A profit-maximizing decision must be made about whether to keep a bed & breakfast operating. Until the place sells, the mort
artcher [175]

Answer:

b.it is best to ignore sunk costs and keep the bed & breakfast operating.

Explanation:

The owner of the store will face the mortgage cost wether the bed and breakfast is open or closed therefore it should be ignore in the short-term for the decision wether or not to keep the business open.

The business revenues are 6,000 while their cost 4,000 thie means there is a contribution of 2,000 then we subtract the mortage to get a loss 1,000

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3 years ago
Suppose you find that the willingness to pay for Clippers tickets is highest for 23-64 year olds. Device a tactic to capture add
weeeeeb [17]

Answer:

Explanation: see attachment

3 0
3 years ago
Fogerty Company makes two products, titanium Hubs and Sprockets. Data regarding the two products follow:
sveta [45]

Answer:

activitity rate:

\left[\begin{array}{ccccc}$Activity&$Driver&$cost&$Total&$Rate\\$Machine Setups&setups&72,000&400&180\\$Special processing&$machine hours&200,000&5,000&40\\$General factory&$direct labor hours&816,000&24,000&34\\\end{array}\right]

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This give us the activitty rate.

Then we multiply each rate by the use of each product:

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\left[\begin{array}{ccc}$Activity&$Hubs&$Sprockets\\$Machine Setups&18,000&54,000\\$Special processing&200,000&0\\$General factory&272,000&54,4000\\$Total&490,000&598,000\\$Units&10,000&40,000\\$Overhead per unit&49&14.95\\\end{array}\right]

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Sprocked:

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