Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 06, 2024

DEF Inc manufactures a product with a standard labor rate of $15 per hour. During the month, the company produced 8,000 units, and actual labor

DEF Inc manufactures a product with a standard labor rate of $15 per hour. During the month, the company produced 8,000 units, and actual labor hours were 20,000 at an actual rate of $16 per hour. Calculate the labor rate and efficiency variances.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.

9th Canadian Edition, Volume 2

470964731, 978-0470964736, 978-0470161012

Students also viewed these Accounting questions

Question

★★★★★

A local hospital provided the following frequency distribution summarizing the weights of babies delivered over the month of January. Weight (in pounds) .... Number of Babies 2 up to 4 ........ 3 4...

Answered: 1 week ago

Question

★★★★★

What is gross working capital? Net working capital?

Answered: 1 week ago

Question

★★★★★

1. Communicate that it is okay (and normal) to feel bored waiting for a turn, for example.

Answered: 1 week ago

Question

★★★★★

Methanol is to be delivered to a process unit at a rate of 15.0k mol/h by a stream that is 30.0 mole% methanol and 70.0mole% propane. Estimate the volumetric flow rate of this stream at 10.0 atm and...

Answered: 1 week ago

Question

★★★★★

QUESTION 2 Foreign Corrupt Practices Act (FCPA) was enacted to discourage companies from investing in foreign countries True False

Answered: 1 week ago

Question

★★★★★

Netzone Company is in semiconductor industry and fabrication of silicon-wafer chips splits off two types of memory chips, Standard and Premium. The following information was collected for last...

Answered: 1 week ago

Question

★★★★★

Income Statement for the ear Ended 3 0 Net Saies ( All on Credit ) . 7 4 1 8 COGS. 5 2 7 1 Depreciation. 7 4 5 EBIT 1 4 0 2 Interest. 3 0 5 . Taxes 3 8 4 Net Incorne. 7 1 3 Dividends paid 2 5 0...

Answered: 1 week ago

Question

★★★★★

When prioritizing risk, what are the two primary criteria that need to be determined for analyzing the level of risk for a particular event? Using these two criteria, how would you describe the risk...

Answered: 1 week ago

Question

★★★★★

Tanya ( born 1 0 - 3 1 - 9 0 ) is single, has no dependents and will not itemize deductions. She cannot be claimed as a dependent by anyone else. Tanya can claim adjustments of $ 8 0 0 for her...

Answered: 1 week ago

Question

★★★★★

Bugs NoMore Company manufactures a product effective in controlling beetles. The company uses a standard cost system and a flexible budget. Standard cost of a gallon is as follows: Direct material: 2...

Answered: 1 week ago

Question

★★★★★

Your director at the department of Home Affairs has appointed you as the lead project manager for a project to rollout the new card type identification to all South African citizens, replacing the...

Answered: 1 week ago

Question

★★★★★

A candy company has 123 kg of chocolate-covered nuts and 75 kg of chocolate-covered raisins to be sold as two different mixes. One mix will contain half nuts and half raisins and will sell for $7 per...

Answered: 1 week ago

Question

★★★★★

In general, business buyers should be at least very _______, if not to the point of being cynical.

Answered: 1 week ago

Question

★★★★★

Family businesses are important to the U.S. economy, generating what percentage of the U.S. GDP? a. 10 percent b. 25 percent c. 50 percent d. 90 percent

Answered: 1 week ago

Question

★★★★★

Why would a long-time executive prefer account analysis to statistical cost- estimation methods?

Answered: 1 week ago

Previous Question Next Question