Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please Help with total 12 answers. Thanks! 1) The actual direct labor wage rate is 8.50 and 4500 direct labor hours were actually during the

Please Help with total 12 answers. Thanks!

1) The actual direct labor wage rate is 8.50 and 4500 direct labor hours were actually during the month. the standard direct labor wages is 8.00 and the standard quantity of hours allowed for the activity level of output was 5000 direct labor hours.

what was the material price variance?

What was the direct labor efficiency variance?

What was the materials quantity variance?

what is the variable overhead efficiency variance if the standard variable over head per direct labor hour is 5.00?

2) Suppose you are the manager of a California Winery. How would you expect the following events to affect the price you receive for a bottle of wine?

a. The price of comparable French wines decreases.

b. One hundred new wineries open in California.

c. The unemployment rate in the United States decrease.

d. The price of cheese increases.

e. The price of a glass bottle increases significantly due to new government antishatter regulations.

f. Researchers discover a new wine-making technology that reduces production costs.

g. The price of wine vinegar, which is made from the leftover grape mash, increases.

h. The average age of consumers increases, and older people drink less wine.

3) A patient's total surgery charges are $1,278. The patient must pay the annual deductible of $1,000, and the policy states a 80-20 coinsurance. What does the patient owe?

4) These balances and totals are from Bantu Ltd for the year ended 30 June 2020. Real accounts section 30-Jun-19 30-Jun-20 Inland Revenue: Income Tax 12,000.00 15,000.00 Shareholders for dividends 15,000.00 20,000.00 Nominal accounts section 30-Jun-20 Income tax expense 38,000.00 Under-provision for taxation in the previous year 3,200.00 Dividends Interim 18,000.00 Final 20,000.00 You are required to: 1. Calculate the amount of dividends and taxation paid. (12 marks)

5) Harrington Company is giving each of its employees a holiday bonus of $250 on December 13, 20-- (a nonpayday). The company wants each employee's check to be $250. The supplemental tax percent is used.

10) PearlLtd. purchased a patent on September 1, 2017 for $39,780. At the time of purchase,Pearlestimated that the patent's economic benefits would last until the end of 2021 fiscal year.Pearl's fiscal year-end is December 31. On April 1, 2020,Pearlsold the patent to another company.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Principles of Managerial Finance

Authors: Lawrence J. Gitman, Chad J. Zutter, Wajeeh Elali, Amer Al Roubaix

Arab World Edition

1408271583, 978-1408271582

More Books

Students also viewed these Finance questions