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lakkis [162]
2 years ago
9

Hardigree Corporation makes a product that has the following direct labor standards: Standard direct labor-hours 0.3 hours per u

nit Standard direct labor rate $ 23.00 per hour In May the company's budgeted production was 8,900 units, but the actual production was 8,800 units. The company used 2,820 direct labor-hours to produce this output. The actual direct labor cost was $70,218. The labor efficiency variance for May is:
Business
1 answer:
djyliett [7]2 years ago
8 0

Answer:

4,140 U

Explanation:

According to the scenario, calculation of the given data are as follows,

Actual Hours = 2,820 hours

Standard rate = $23 per hour

Standard direct labor hour = 0.3 hours

We can calculate labor efficiency variance by using following formula,

Labor Efficiency Variance = Actual hours standard cost  - Standard cost

Where, Actual hours standard Cost  = Actual hours × Standard rate

= 2,820 × 23

= 64,860

Standard Cost (8,800 units) = Standard hours (8,800 units) × Standard rate

= (8,800 × 0.3) × 23

= 60,720

Hence, by putting the value in the formula, we get

Labor Efficiency Variance  = 64,860 - 60,720

= 4,140 U

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During the month of February, Rubio Services had cash receipts of $7,900 and cash disbursements of $9,400. The February 28 cash
Nana76 [90]

Answer:

The begining cash balance = $4100

Explanation:

Given:

Cash receipts = $7900, Cash disbursements = $ 9400, Ending cash balance = $2600.

<u>To find out the cash balance at the begining of the month, the following is to be used </u>

Begining Cash balance = Ending cash balance + cash disbursements - cash receipts

Putting the given figures in this we get,

Begining Cash balance = $2600 + $9400 - $7900

                                      = $4100

7 0
2 years ago
A. the repairs do not extend beyond the damage suffered.
TEA [102]
It would be c. hope that helps
5 0
3 years ago
Pharoah Corporation had the following activities in 2020. 1. Payment of accounts payable $843,000 4. Collection of note receivab
DIA [1.3K]

Answer:

The amount Pharoah should report as net cash provided (used) by financing activities in its 2020 statement of cash flows is $344,000.

Explanation:

Pharoah Corporation

Statement of cash flows (extract)

Proceeds from common stock                $256,000

Proceed from bond payable                    $466,000

Dividend paid                                           ($333,000)

Purchase of treasury stock                        ($45,000)

Net cash flows from financing activities    $344,000

Note that the payment of accounts payable and collection of notes receivable only affect the operating activities section of the cash flows.

7 0
3 years ago
A $10,000 municipal bond with 10 years to maturity is purchased in the primary market at 105. The bond is sold after 2 years at
Mama L [17]

Answer: B. a 2 point capital gain

Explanation:

Municipal Bonds have to be amortized using the straight-line method and this applied to both newly issued or bonds being traded at a premium.

The bond in question is trading at 105 and so has a 5 point premium which needs to be amortized at 1 point a year for 5 years. As it was bought after two years, the amortization was 2 points which means the cost of the bond should be;

105 - 2 = 103

Yet it was sold for 105. The gain is therefore

= 105 - 103

= 2 point capital gain

7 0
3 years ago
Patricia McDonald has determined that the value of her liquid assets is $4,600, the value of her real estate is $134,000, the va
denis23 [38]

Answer:

Net worth = $169,900

Explanation:

Patricia's net worth is the difference between her assets and liabilities. It is an important measure to guage the financial health of an individual or business.

Total assets= 4,600+ 134,000+ 58,000+ 74,000

Total assets= $270,600

Total liabilities= 6,700+ 94,000

Total liabilities= $100,700

Therefore Net worth= 270,600- 100,700

Net worth = $169,900

5 0
2 years ago
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