Calculate the direct labor rate and efficiency

Assignment Help Managerial Accounting
Reference no: EM132960050

Paradise Corp. has determined a standard labor cost per unit of $31 (0.50 hour × $62 per hour). Last month, Paradise incurred 988 direct labor hours for which it paid $27,911. The company produced and sold 2,900 units during the month.

Problem 1: Calculate the direct labor rate, efficiency, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations to 2 decimal places.)

Reference no: EM132960050

Questions Cloud

What are the impact on control risk : Identify the control weaknesses for each of the independent situations above and the impact on control risk based on the above information.
How many pounds of clay would quality corporation need : How many pounds of clay would Quality Corporation need to purchase in Month? 2? Each vase requires one pound of clay in its manufacture.
Recruit a professional industrial engineer : You are the appointed Human Resources Manager in a top caliber manufacturing industry organization. Recently, you had an expansion project to run an additional
Calculate the over or under applied manufacturing overhead : Calculate the over or under applied manufacturing overhead costs and Why is manufacturing overhead cost applied
Calculate the direct labor rate and efficiency : Calculate the direct labor rate, efficiency, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable, "U")
Describe what you anticipate to happen to the labor pool : Describe what you anticipate to happen to the labor pool (i.e., the set of workers that you manage to retain and attract) if you were to opt for (1) and (2)
Calculate the new machine net present value : Calculate the new machine's net present value assuming a 16% discount rate. (For calculation purposes, use 4 decimal places as displayed in the factor)
How actual results varied in terms of units sold : What is more important is to understand how your actual results varied in terms of units sold versus how the actual cost of each unit differed from the budget
How much is the investment income to be reported : How much is the investment income to be reported to the profit or loss of Recede Corporation in 2020? 2021

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Factors that affecting companys ability to break even

Identify three factors that are affecting airline company's ability to break even. For each of your factors, discuss how these have an impact on the breakeven (contribution margin, fixed costs, variable costs, a combination, etc.), and what happen..

  Company wants to better understand its costs

Wooddale Landscaping has enjoyed profits for many years, but new competition has cut service revenue by as much as 30%. As a result, the company wants to better understand its costs.

  Prepare the journal entries to reflect the accounting

Prepare the journal entries to reflect the accounting for the company's pension plan for the year ending December 31, 2020

  List and briefly describe the typical items

List and briefly describe the typical items included in a commercial mortgage loan application package.

  Find the cash received from the sale of the equipment

How do compute the cash received from the sale of the equipment. Green Company reports depreciation expense of $51,000 for Year 2.

  Find what is the effective annual interest on the joan

Find What is the effective annual interest on the Joan? Tuesta borrowed P100,000 from a bank a one year 8% term loan with interest compounded quarterly.

  Determine the weighted-average unit contribution margin

Using the annual expected sales for these products, determine the weighted-average unit contribution margin for these three products.

  Find the cost formula for maintenance is

Maintenance cost is $12 000, and at 20 000 units the maintenance cost is $18 000. Using the high-low method, the cost formula for maintenance is

  Calculate cash received from customers

Calculate cash received from customers in 2019. Calculate cash paid for inventory in 2019. Calculate cash paid for taxes in 2019.

  How record direct labor costs for each production department

Each production department typically has a direct labor work force. How do we record direct labor costs for each production department?

  Can possible that the number of units transferred out

Can possible that the number of units transferred out can not exceed the number of units started this period? Explain in detail with an example.

  Describe the differences between a technology-literate

Describe the differences between a technology-literate knowledge worker and an information-literate knowledge worker?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd