Business, 23.11.2019 05:31 darrenturner
After evaluating null company’s manufacturing process, management decides to establish standards of 2 hours of direct labor per unit of product and $15.50 per hour for the labor rate. during october, the company uses 11,500 hours of direct labor at a $180,550 total cost to produce 6,100 units of product. in november, the company uses 22,500 hours of direct labor at a $355,500 total cost to produce 6,500 units of product. ah = actual hours sh = standard hours ar = actual rate sr = standard rate aq = actual quantity sq = standard quantity ap = actual price sp = standard price (1) compute the direct labor rate variance, the direct labor efficiency variance, and the total direct labor cost variance for each of these two months. classify each variance as favorable or unfavorable.
Answers: 2
Business, 22.06.2019 13:20
Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.
Answers: 1
Business, 22.06.2019 17:30
What do you think: would it be more profitable to own 200 shares of penny’s pickles or 1 share of exxon? why do you think that?
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Business, 22.06.2019 19:00
All of the following led to the collapse of the soviet economy except a. a lack of worker incentives. c. inadequate supply of consumer goods. b. a reliance on production quotas. d. the introduction of a market economy.
Answers: 1
Business, 22.06.2019 19:50
Managers in a firm hired to improve the firm's profitability and ultimately the shareholders' value will add to the overall costs if they pursue their own self-interests. what does this best illustrate? a. diseconomies of scale b. principal-agent problem c. experience-curveeffects d. information asymmetries
Answers: 1
After evaluating null company’s manufacturing process, management decides to establish standards of...
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