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Nataly_w [17]
1 year ago
13

Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Stan

dard Cost Per Unit Direct materials 5.7 ounces $ 2.00 per ounce $ 11.40 Direct labor 0.2 hours $ 11.00 per hour $ 2.20 Variable overhead 0.2 hours $ 6.00 per hour $ 1.20 The company reported the following results concerning this product in June. Originally budgeted output 3,900 units Actual output 3,500 units Raw materials used in production 20,700 ounces Purchases of raw materials 21,800 ounces Actual direct labor-hours 530 hours Actual cost of raw materials purchases $ 42,600 Actual direct labor cost $ 13,900 Actual variable overhead cost $ 3,950 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The labor efficiency variance for June is:A. 1,870 F
B. 2,750 U
C. 2,750 F
D. 1,870 U
Business
1 answer:
balu736 [363]1 year ago
3 0

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Standard Hours=  0.2 hours

Standard Rate=  $11.00

Actual output of 3,500 units

Actual direct labor-hours 530 hours

To calculate the direct labor efficiency variance, we need to use the following formula:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Standard quantity= 0.2 hours*3,500 units= 700 hours

Direct labor time (efficiency) variance= (700 - 530)*11= $1,870 favorable

It is favorable because a lower number of hours were required to make 3,500 units than estimated.

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A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. The associate continues to be employed by the same brok
-BARSIC- [3]

Answer: The sales associate must notify the DBPR in writing within 60 days regarding her change in residency

Explanation:

The options are:

a. The states associate broker is required to file the change of address on her behalf.

b. The sales associate broker is not required to notify DBPR because she did not change employers.

c. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency.

d. The sales associate must file an application for Georgia real estate license.

From the question, we are informed that a sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. The associate continues to be employed by the same broker, who has an office in Atlanta.

Based on the scenario, the sales associate should let the DBPR be aware that he or she has moved from

Jacksonville, Florida, to Atlanta, Georgia by writing to them within 60 days regarding her change in residency.

6 0
2 years ago
A population gathers plants and animals for survival. They need at least 360 units of​ energy, 300 units of​ protein, and 8 hide
stellarik [79]

Answer:

0 units of plants and 18 animals.

Explanation:

From the information provided, we know that this population must hunt at least 8 animals, to obtain the hides necessary to survive. When hunting such a quantity of animals, they would also obtain 160 units of energy and 200 units of protein. In terms of costs, this equals 80 hours of labor.

How can the population obtain the additional 200 units of energy and 100 of protein they need to live? They have two options: gather plants or keep hunting animals, of course, respecting the available quantities.

In the former case, at least 10 units of a plant would have to be gathered, this is the only way to obtain the additional units of energy and protein they are looking for. With 8 animals and 10 units of plants, they would have 460 units of energy, 300 of protein and 8 hides, and would have to invest 280 hours of labor.

If the population decided to reduce labor by gathering fewer plants (which is the activity that requires more time) but hunting the same amount of animals, it would obtain 430 units of energy, 290 units of protein and 8 hides. That means that it would not survive because it would not meet the requirement of 300 proteins.

Therefore, the only way to reduce hours of labor without risking survival would be gathering fewer plants but hunting more animals. Following this logic, the optimal amount would be 18 animals and 0 units of plants, as this would allow people to obtain the necessary resources to survive at the minimum cost in terms of labor. Furthermore, it would fit the physical limit of 27 units of plants and 23 animals. This combination would allow to obtain 360 units of energy, 450 of protein and 18 hides by investing only 180 hours of labor.

The attached image shows what happens when the quantity of animals is increased and that of plants is decreased until reaching the optimal combination of 18 animals and no units of plants.

4 0
2 years ago
The following information was drawn from the accounting records of Chapin Company. On January 1, Year 1, Chapin paid $56,000 cas
mote1985 [20]

Answer: Please refer to Explanation

Explanation:

a)

The truck was bought for $56,000 and has a 5 year useful value after which it will have a salvage value of $6,000.

Depreciation can therefore be calculated as,

= ( Cost - Salvage) / Useful life

= (56,000 - 6,000) / 5

= $10,000

It will be depreciated at $10,000 per year.

Recording it will be,

DR Depreciation $10,000

CR Accumulated Depreciation (Truck) $10,000

(To record Depreciation expense to the year)

b) The Book Value is calculated as the Original Cost less the Accumulated Depreciation.

The Accumulated Depreciation so far being the first year is only $10,000.

The Book Value therefore is,

= 56,000 - 10,000

= $46,000

c) It is estimated that 5% of Credit Sales will be Uncollectible. This will go into the Uncollectible Account Balance. This is done to cater for the possibility that some people will not pay the money they owe so if they don't, it is simply taken from this account.

Sales are $320,000 and 5% are estimated Uncollectible.

This means that,

= 320,000 * 5%

= $16,000 will be recorded in the Uncollectible Account Balance

Recording it looks like,

DR Uncollectible Account Expense $16,000

CR Allowance for Doubtful Accounts $16,000

(To record Uncollectible Account Expense)

d) The Net Realizable Value of the Receivables will be Receivables less the Uncollectible Account Expense which will be removed to reflect the belief that some debtors will default.

Receivables are $68,000 and the Uncollectible Amount is $ 16,000.

Net Realizable Value = 68,000 - 16,000

Net Realizable Value = $52,000

6 0
2 years ago
Which example best describes how a bank injects money into the economy? A bank opens a savings account for a customer. A bank ap
USPshnik [31]

Answer:

The correct answer would be option B, A bank approves mortgage for a customer.

Explanation:

Injecting money into the economy means increasing money supply in the economy. It means more money is in the circulation. So when a bank approves a mortgage for a customer, it means bank is releasing money which will be in circulation and becomes a part of the economy. Mortgage is basically the loan or money which a bank or financial institution lends to a person or company on an agreed upon interest rate in exchange of their property with the condition that the bank will sell the property to get its money back if the borrower fails to return the loaned money. So the best example of how a bank can inject money into the economy is to approve the mortgage for a customer.

7 0
2 years ago
Read 2 more answers
Morataya Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the begin
Katena32 [7]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Total Estimated total machine-hours (MHs) 10,000

Estimated total fixed manufacturing overhead cost= $45,800

Total Estimated variable manufacturing overhead cost- per MH= $1.90 +  $2.10= $4

To calculate the estimated manufacturing overhead rate we need to use the following formula:

<u>Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base</u>

<u>Estimated  FIXED manufacturing overhead rate=</u> (45,800/10,000)= $4.58

7 0
2 years ago
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