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GalinKa [24]
3 years ago
9

The following labor standards have been established for a particular product: Standard labor hours per unit of output 4.3 hours

Standard labor rate $ 17.80 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 6,300 hours Actual total labor cost $ 112,770 Actual output 1,400 units Required: a. What is the labor rate variance for the month
Business
1 answer:
Ierofanga [76]3 years ago
8 0

Answer:

See below

Explanation:

With regards to the above, labor rate variance is computed as;

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

Given that;

Standard labor rate per hour = $17.8

Actual hours worked = 6,300

Actual total labor cost = $112,770

Actual rate = $112,770/6,300 = $17.9

Therefore,

Direct labor rate variance = ($17.8 - $17.9) × 6,300

= $630 unfavourable

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Tom [10]

Answer:

The overview of the instance would be described throughout the following section.

Explanation:

  • Throughout economics, GDP has been utilized to measure the amount profitability of a company manufactured inside the borders of a nation.
  • Whilst also GNP has been utilized to measure the amount of profit of an organization manufactured or organized by the nation's residents, regardless of geographic location.
5 0
3 years ago
The focus of management accounting is onA) tax preparation.B) external reporting.C) internal reporting.D) auditing.
Studentka2010 [4]

Answer: The focus of management accounting is on "C) internal reporting.".

Explanation:  It could be understood as the concept of management accounting as that economic information destined to the internal users of the company and which is mainly responsible for the analysis of the costs of the company, helping to make management decisions and business control.

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3 years ago
Beth is a retired teacher who lives in dallas and does some consulting work for extra cash. at a wage of $40 per hour, she is wi
Ipatiy [6.2K]
Price Elasticity of Supply. The price elasticity of supply is calculated as the percentage change in quantity divided by the percentage change in price.
 Using the Midpoint Method
 PES = ((Q2-Q1) / ((Q2 + Q1) / 2)) / ((P2-P1) / ((P2 + P1) / 2))
 PES = (((10) - (7)) / (((10) + (7)) / 2)) / (((50) - (40)) / (((50) + (40)) / 2))
 PES = 1.59
 the elasticity of beth's labor supply between the wages of $ 40 and $ 50 per hour is approximately 1.59
 In this case, to 1% rise in price causes an increase in quantity supplied of 1.59%
 answer:
 the elasticity of beth's labor supply between the wages of $ 40 and $ 50 per hour is approximately 1.59
 In this case, to 1% rise in price causes an increase in quantity supplied of 1.59%
4 0
4 years ago
Castle Brew Inc., a leading multinational beverage manufacturing company, coordinates with Waste Yard Inc., a waste management c
ycow [4]

Answer:

Socially responsible business

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The company is investing in save the enviroment, so it is assuming his role inside the society. It is performing a policy which  does not seek profit, it seeks to generate a better and sustainable community and world.

It reduces waste and promotes recicling

5 0
3 years ago
Lewelling Company issued 101,000 shares of its $1 par common stock to the Michael Morgan law firm as compensation for 4,100 hour
GenaCL600 [577]

Answer:

Paid in capital excess of par is $$309,000

Explanation:

<u>Journal Entries</u>

Debt: Legal services (4,100 hours × $100 per hour)  = $410,000

Credit: Common stock (101,000 shares × $1 par)  = $101,000

Credit: Paid-in capital - excess of par (Remainder)  = $309,000

To record the 101,000 shares compensated by 4,100 legal hours with $1 par value)

In the above transaction common stock issued in excess of par for legal services as compensation instead cash. Hence "legal services" have been debited as issuing company benefited for legal services. "Common stock" and "paid in capital in excess of par" has been credited as this issuing company issuing common stock.

Paid in capital excess of par is $$309,000

3 0
3 years ago
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