Reference no: EM132669792
Problem 1: Each unit of product requires 15 minutes of labour time and each labour hour should cost $12. The number of units produced is 8,000. The company employs some part time workers and labour rates paid are $10 per hour. Actual labour hours worked have increased to 2,500 hours. Calculate the direct labour rate and efficiency variances.
Select one:
a. Labour rate variance: $5,000 favourable Efficiency variance: $6,000 unfavourable
b. Labour rate variance: $5,000 unfavourable Efficiency variance: $6,000 favourable
c. Labour rate variance: $4,000 unfavourable Efficiency variance: $5,000 favourable
d. Labour rate variance: $4,000 favourable Efficiency variance: $5,000 unfavourable
Problem 2: Microworld Ltd has a net profit margin of 6% pa and a return on investment (ROI) of 24%. Calculate the asset turnover.
Select one:
a. 2.5 times
b. insufficient information given
c. 3.82 times
d. 4 times
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