Calculate the labor rate and the labor efficiency variance

Assignment Help Accounting Basics
Reference no: EM132753623

Question: At Macaron, the standard quantity of labor is 24 hours per refrigeration unit. The standard wage rate is $36. In July, the company produced 86 refrigeration units and incurred 2,040 labor hours at a cost of $63,240.

Calculate the labor rate variance and the labor efficiency variance. Indicate whether the variances are favorable or unfavorable.(Round intermediate calculations to 2 decimal places, e.g. 14.37 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.)

Reference no: EM132753623

Questions Cloud

Prepare a message replying back to your boss : Prepare a message replying back to your boss - receive their shipment and now it's Monday making it three days late. I don't know whose fault it is but until
Microscope diameter measurement of specimen of virus : A cable of 10 mm outside is to be laid in an atmosphere of 25 degree Celsius (h = 12.5 W/m2 degree) and its surface temperature is likely to be 75 degree Celsiu
Describe a biological process : Describe a biological process carried out by all organisms that suggests they share a common origin
Calculate the bonds modified duration : Calculate the Macaulay duration of an 8 percent, $1,000 par bond that matures in bond's YTM is 10 percent and interest is paid semi-annually.
Calculate the labor rate and the labor efficiency variance : At Macaron, the standard quantity of labor is 24 hours per refrigeration unit. The standard wage rate is $36. In July, the company produced 86 refrigeration.
Discuss the inferences drawn from the numbers : Discuss the inferences drawn from the numbers collected and provide insight into the impact of the numbers on the American economy in a response
Compare and contrast the dyb and gyb strategies : Compare and contrast the DYB and GYB strategies in terms of the ability to sustain a business in the marketplace over the long term, to be competitive against
What do you estimate is firm current market capitalisation : An analyst forecasts that a firm's nominal Equity Free Cash Flow will be $1 million next year and is expected to grow at the country's nominal GDP growth rate.
Muscle in the muscular system : Does each muscle in the muscular system have a scientific name?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the cost of direct materials used during the year

Mundo Corporation required the controller to prepare the statement of cost of goods manufactured. Compute the cost of direct materials used during the year

  What are the intrinsic values of stocks d & g

person is considering buying the stock of two home health companies that are similar in all respects except the proportion of earnings paid out in dividends.

  Find berclair basic and diluted earnings per share

Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2018. (Enter your answers in millions i.e., 10,000,000)

  Construct a cost-volume-profit chart on your own paper what

soldner health care products inc. expects to maintain the same inventories at the end of 2014 as at the beginning of

  Evaluate the impact to a business

Evaluate the impact to a business when compensation, such as sales commissions and bonuses, are tied to achieving budgeted expectations

  What is the unit conversion cost for may

The units in ending inventory were 40% complete. How many units are in process at May 31? What is the unit conversion cost for May

  Abc company accepted a national credit card for a 3000

abc company accepted a national credit card for a 3000 purchase. the cost of the goods sold is 2400. the credit card

  Earnings available for dividends

Cash of $2,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends?

  In which section of cash flow statement will action appear

Declared and paid a dividend to all shareholders. In which section of the cash flow statement will this action appear for both Ryan Corp. and Anna Corp?

  Compute the amounts assigned to ending inventory

Compute the amounts assigned to ending inventory and the cost of goods sold using (a) FIFO, (b) LIFO, and (c) weighted average.

  Analyze the economic impact of major social problems

Analyze the economic impact of major social problems and issues

  Determine the amounts that beldon should capitalize

Determine the amounts that Beldon should capitalize as the cost of the land and the new building.

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