User Account

All Pages

Calculate the labor efficiency variance

Assignment Help Accounting Basics
Reference no: EM132472676

Problem - Solly Corporation produces a product for national distribution. Standards for the product are:

Materials: 12 ounces per unit at 60¢ per ounce.

Labor: 2 hours per unit at $8 per hour.

During the month of December, the company produced 1,000 units. Information for the month follows:

Materials: 14,000 ounces purchased and used at a total cost of $7,700.

Labor: 2,500 hours worked at a total cost of $20,625.

Required - Calculate the labor efficiency variance?

Reference no: EM132472676

Questions Cloud

Calculate the direct materials used in production : Applied unit-related manufacturing overhead $11.00 per machine hour. Calculate the direct materials used in production
What is the cost of goods manufactured : What is the Cost of Goods Manufactured? What is the Total Manufacturing Cost? (TMC) What is the total for Overhead? How much is the DM used?
How many shares of common stock should be issued to Schuler : Robert Schuler, the owner of a sole proprietorship, is planning to incorporate his business. How many shares of common stock should be issued to Schuler
What are six items on balance sheet that could be classified : What are six items on a balance sheet that could be classified as either a long or short term asset or liability depending upon circumstances?
Calculate the labor efficiency variance : During the month of December, the company produced 1,000 units. Labor: 2,500 hours worked at a total cost of $20,625. Calculate the labor efficiency variance
Determine the amount receive by todd as a final distribution : Prior to liquidating their partnership, Determine the amount received by Todd as a final distribution from liquidation of the partnership.
Compute partnership share : Determine the Dividing Partnership Net Income, Compute partnership share, Net income for the year was $288,000. How much is distributed to Prince and Dane?
Prepare Sweet Acacia journal entries to record the sale : Sweet Acacia Music sold CDs to retailers on account for a selling price of $660,000. Prepare Sweet Acacia's journal entries to record the sale on July 10, 2017
Find the unit selling price : A store buys a product from a supplier for $672 per unit, Find the unit selling price if the store would like to have a yearly after tax income of $115551.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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