1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
The right of common shareholders to purchase their proportional share of any common stock later issued by the corporation is cal
velikii [3]

Answer:

Preemptive right

Explanation:

The right of common shareholders to purchase their proportional share of any common stock later issued by the corporation is called a <u>Preemptive right.</u> A preemptive right grants right to existing shareholders to buy some proportion of new shares at a price lower than market price

7 0
3 years ago
New Business Ventures, Inc., has an outstanding perpetual bond with a coupon rate of 11 percent that can be called in one year.
Virty [35]

Answer:

961.88

Explanation:

First, examine whether the bond will be called if interest rate falls to 9%. The call price is

1,000 + 125 = 1,222. Bond price at 9% yield will be

$110/0.13 > call price of 846.15

Bond will be called. The price of the callable bond therefore is:

=+[.60(846.15)+.40(1125)]/1.11+110/1.11 =961.88

8 0
3 years ago
Baker Corporation has provided the following production and total cost data for two levels of monthly production volume. The com
kipiarov [429]

Answer:

$1,078,560

Explanation:

The computation of the total manufacturing cost is shown below:

= Direct material + direct labor + manufacturing overhead cost

where,

Direct material = cost of 6,000 units × (estimated units ÷ given units)

                        = $194,400 × (6,300 units ÷ 6,000 units)

                        =  $204,120

Direct Labor = cost of 6,000 units × (estimated units ÷ given units)

                     = $74,400 × (6,300 units ÷ 6,000 units)

                     = $78,120

Manufacturing overhead = cost of 6,000 units × (estimated units ÷ given units)

                                          = $758,400 × (6,300 units ÷ 6,000 units)

                                          = $796,320

Now put these values to the above formula  

So, the value would equal to

=  $204,120 + $78,120 + $796,320

= $1,078,560

6 0
3 years ago
At the beginning of the current year, Bard Corporation had 400,000 shares of $1 par common stock outstanding and had retained ea
sveta [45]

Answer:

b. $14,660,000

Explanation:

The computation of retained earnings at the end of the year is shown below:-

Retained earnings = Beginning retained earning + Net income - Stock dividend - Cash dividend

= $11,000,000 + $5,000,000 + $500,000 - $840,000

= $14,660,000

Working Note :-

Stock Dividend = 400,000 × 5% × $25

= $500,000

Cash dividend = (400,000 + (400,000 × 5%) × $2

= 420,000 × $2

= $840,000

5 0
3 years ago
What must a dental assistant have in order to take dental X-rays
Zarrin [17]
They must have certification in radiology in order to take dental X-rays.
4 0
3 years ago
Read 2 more answers
Other questions:
  • Change agentry may be an especially useful technique for
    11·1 answer
  • What are the three aspects of corporate organization according to the economics of organizational architecture article?
    13·1 answer
  • How have the division and coordination of labor evolved at merritt's bakery from its beginnings to today?
    15·1 answer
  • Michone lost her job and ended up deep in debt after she was arrested for causing a car accident while she was drinking and driv
    8·1 answer
  • Maria runs a small business out of her home. She has expenses of $2,000 per year and uses the cash basis method of accounting. H
    12·1 answer
  • A bank has $200 million in assets in the 0 percent risk-weight category. It has $400 million in assets in the 20 percent risk-we
    5·1 answer
  • Officials argue that the government needs to reduce the national debt. Which actions are most likely to accomplish this goal?
    11·2 answers
  • how can the size of the industrial/service sector and the agriculture employment rate indicate the level of industrialization?​
    13·1 answer
  • Jensen Automotive produces alternators for American-made cars. They generally use a static budget with the following costs based
    11·1 answer
  • If the Federal Open Market Committee decides to increase the money supply, then the Federal Reserve Group of answer choices crea
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!