User Account

All Pages

Determine the labor price variance

Assignment Help Managerial Accounting
Reference no: EM132978779

Question - The Russell Company provides the following standard cost data per unit of product:

Materials (4 gallons @ $6 per gallon) $24

Labor (3 hours @ $10 per hour) $30

During the period, the company produced and sold 20,000 units incurring the following costs:

Materials 82,000 gallons @ $5.90 per gallon

Labor 62,000 hours @ $ 9.75 per hour

Required - Determine the labor price variance at "Favorable" or "Unfavorable".

a. $16,000 U

b. $15,500 F

c. $ 17,000 F

d. $13,500 U

Reference no: EM132978779

Questions Cloud

How is this ethically in the wrong : "You are the IT administrator for your company. One of the employees discovers a loophole in the security whereby the employees may access the personnel records
Locate the root cause of a data quality issue : How can you use AHIMA Data Quality Model to locate the root cause of a data quality issue?
How are these transactions treated for income tax purposes : Brandi had the following transactions: a long-term capital gain from the sale of land, How are these transactions treated for income tax purposes
What is the payback period on this machine : Problem - ROK Corporation wants to invest in a new piece of machinery that will cost $100,000. What is the payback period on this machine
Determine the labor price variance : During the period, the company produced and sold 20,000 units incurring the costs: Labor 62,000 hours @ $ 9.75 per hour. Determine the labor price variance
Adjust the appropriate accounts on january 31 : Adjust the appropriate accounts on January 31 for the contract work done during January; use the financial statement effects template
How to incorporate it into other contingency procedures : An incident response plan could exist as a standalone document. Explain how to incorporate it into other contingency procedures you may have.
What is the payback period : Question - Uncle Cosmo plans to build a factory. The projected cash flows are as follows: What is the payback period
Discuss gain awareness of the business continuity : Discuss ways to gain awareness of the business continuity and disaster recovery plan. How would you encourage communication and coordination on the plans? Shoul

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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