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Question - Direct Labor Variances
Assume that Nortel manufactures specialty electronic circuitry through a unique photo electronic process. One of the primary products, Model ZX40, has a standard labor time of 0.5 hour and a standard labor rate of $12.50 per hour. During February, the following activities pertaining to direct labor for ZX40 were recorded:
Direct labor hours used 2,180
Direct labor cost $31,000
Units of ZX40 manufactured 4,700
(a) Determine the labor rate variance.
(b) Determine the labor efficiency variance.
(c) Determine the total flexible budget labor cost variance.
Developing a cost formula to estimate the fixed and variable components of its monthly manufacturing overhead costs
Prepare the journal entries on Revco's books to report the above information assuming Revco accounts for its investment in Ron Corporation.
On January 1, 2010 the Hogback Company sold the Red Rocks Ranch, which constituted 20,000 acres of undeveloped land, to a limited partnership for $50 million.
Distinguish between ratio analysis and percentage analysis relative to the interpretation of financial statements. What is the value of these two types of analyses?
Briefly describe the company's 2012 reconstructing program. Provide two examples of common non-cash charges associated with corporate reconstructing activities.
QZY, Inc. is evaluating new widget machines offered by three companies. The machines have the following characteristics:
a productivity index of 110 means that a companys labor costs would have been 10 higher if it had not made production
during the year olivia holds two jobs. after an eight-hour day at the first job she works three hours at the second
Create record cash payment of a prepaid expense, To record this period's use of a prepaid expense. To record the earning of previously unearned income.
1) As the HR manager, critically evaluate the current performance appraisal process at the Financial Security Investment including Brook's manager's behavior and decision making as well as the organization's role in this process.
What is meant by the term legal level of budgetary control ? Cite some examples.
a building was purchased for 50000. the asset has an expected useful life of 6 years and depreciation expense each year
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