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slavikrds [6]
3 years ago
13

Sheridan Company’s standard labor cost per unit of output is $33.00 (3.00 hours x $11.00 per hour). During August, the company i

ncurs 2,970 hours of direct labor at an hourly cost of $12.10 per hour in making 1,100 units of finished product. Compute the total, price, and quantity labor variances.
Business
1 answer:
seraphim [82]3 years ago
3 0

Answer:

Total variation= $363 favorable

Explanation:

Giving the following information:

Sheridan Company’s standard labor cost per unit of output is $33.00 (3.00 hours x $11.00 per hour). During August, the company incurs 2,970 hours of direct labor at an hourly cost of $12.10 per hour in making 1,100 units of finished product.

Direct labor efficiency variance= (SQ - AQ)*standard rate

Direct labor efficiency variance= (3,300 - 2,970)*11= 3,630 favorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (11 - 12.1)*2,970= 3,267 unfavorable

Total variation= 363 favorable

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6 0
2 years ago
Haven Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $600,
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Answer:

Debit Bad debt expense   $19,000

Credit Allowance for doubtful debt   $19,000

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Where a debit that had previously been determined to have gone bad gets settled, debit cash and credit bad debt expense.

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2 years ago
All transactional documentation for listings, purchase and sale agreements, property management activities, exchanges, and trust
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3 0
1 year ago
What impact did the rise of the middle class in the late nineteenth century have on the demand for consumer goods?
RoseWind [281]

Answer:

The middle class created a high and sustained demand  for consumer goods

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Before the advent of the industrial revolution, the social stratification of society is such that either you are in the lower class of the poor or you are  part of the rich in the upper class. The industrial revolution of late 18th and early 19th centuries saw the springing up from the lower class a new set of wealthy and educated individuals which were later termed the middle class

This reach men and women are able to buy goods needed to satisfy their newly found social status which boost demand for new and quality goods produced as a result of industrial revolution.

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3 years ago
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