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SVEN [57.7K]
3 years ago
8

Dreary Credit Agency processes credit applications. The labor standard at Dreary is $15 per hour, 8 hours per day (per employee)

. During the last pay period (10 business days), Dreary's 25 credit agents worked 1,920 hours and processed 2,500 applications. The total labor cost for the agents during this period was $29,184. What was Dreary's direct labor efficiency variance for this last pay period
Business
1 answer:
valentinak56 [21]3 years ago
3 0

Answer:

See below

Explanation:

Given the above, we will calculate first the standard hours allowed for actual work using the formula below

Standard hours allowed for actual work

= Total number of applications × Number of standard

= 2.500 × 8 hours × 10

= 2,000 hours

Therefore, the labor efficiency variance

= (Actual hours worked - Standard hours allowed for actual work) × Standard rate

= (1,920 - 2,000 ) × $15

= -$1,200

The labor efficiency variance is $1,200 favorable

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Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials $ 25,100 $ 21,100
tamaranim1 [39]

Answer:

                        Bledsoe Corporation

Schedule of Cost of goods manufactured

Particulars                                      Amount

Direct materials:  

Beginning material inventory        $25,100.00  

Add: Purchases                              <u>$72,100.00</u>

Raw material available for use      $97,200.00  

Less: Ending material inventory    <u>$21,100.00</u>

Raw material used in production   $76,100.00  

Less: Indirect material                     <u>$4,010.00   </u>   $72,090.00

Direct labor                                                             $92,100.00

Manufacturing overhead applied                          <u>$41,100.00</u>

Total manufacturing costs                                      $205,290.00

Add: Beginning WIP                                                <u>$17,100.00</u>

Total cost of work in process                                 $222,390.00

Less: Ending WIP                                                     <u>$10,100.00</u>

Cost of goods manufactured                                 <u>$212,290.00</u>

                Bledsoe Corporation

                 Schedule of COGS

Particulars                                                    Amount

Cost of goods sold:

Beginning finished goods inventory        $48,100.00

Add: Cost of goods manufactured           <u>$212,290.00</u>

Cost of goods available for sale               $260,390.00

Less: Ending finished goods inventory    <u>$56,100.00</u>

Unadjusted cost of goods sold                 $204,290.00

Add: Underapplied overhead                   <u>$1,010.00   </u>($42,110 - $41,100)  

Adjusted cost of goods sold                    <u>$205,300.00</u>

3 0
2 years ago
A total of $44,000 is invested in two municipal bonds that pay 5.75% and 7.25% simple interest. The investor wants an annual int
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Answer:

Amount invested at 5.75% = $30,000

Amount invested at 7.25% = $14,000

Explanation:

Let the amount invested

at 5.75% = X

at 7.25% = Y

According to given condition

X + Y = $44,000 ( Eq 1)

and

0.0575X + 0.0725Y = $2,740 ( Eq 2)

By multiplying ( Eq 1) with 0.0575

0.0575X + 0.0575Y = $2,530 ( Eq 3)

By subtracting ( Eq 3) from ( Eq 2)

0.0725Y - 0.0575Y = $2,740 - $2,530

0.015Y = 210

Y = 210 / 0.015

Y = $14,000

X + $14,000 = $44,000

X = $44,000 - $14,000

X = $30,000

Check:

$30,000 x 5.75% + $14,000 x 7.25% = $2,740

$2,740 = $2,740

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What most directly explains the boost in production of mccormick reapers?.
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The adoption of interchangeable parts is the statement that directly explains the boost in production of mccormick reaper.

<h3>What is mccormick reaper?</h3>

The mccormick reaper is a mechanical mechanism that was created by Cyrus McCormick for farmers to harvest crops mechanically.

In conclusion, the adoption of interchangeable parts is the statement that directly explains the boost in production of mccormick reaper.

Read more about mccormick reaper

<em>brainly.com/question/487638</em>

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