The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 1800 units, the actual direct labor cost was $48000 for 3000 direct labor hours worked, the total direct labor variance is: a. $6000 unfavorable. b. $1800 unfavorable. c. $3750 unfavorable. d. $6000 favorable.
Answers
Answer:
The correct answer is D.
Explanation:
Giving the following information:
The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 1800 units, the actual direct labor cost was $48000 for 3000 direct labor hours worked.
We need to calculate the total direct labor variance, using two formulas:
Direct labor efficiency variance= (SQ - AQ)*standard rate
Direct labor efficiency variance= (1,800*2 - 3,000)*15= $9,000 favorable
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (15 - 48,000/3,000)*3,000= $3,000 unfavorable
Total direct labor variance= 9,000 - 3,000= $6,000 favorable
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b. The company paid $6,000 cash in advance for prepaid insurance coverage.
c. The company purchased $800 of supplies on account.
d. The company paid $600 cash for selling expenses.
e. The company received $6,000 cash for services provided.
f. The company paid $800 cash toward accounts payable.
g. The company paid $4,000 cash for equipment.
Answers
Here are the general journal entries for each of the transactions:
a. D. Belle invested in the business with cash, equipment, and web servers in exchange for common stock:
- Cash: $5,900
- Equipment: $6,900
- Web Servers: $12,900
- Common Stock: $25,700
b. The company paid in advance for insurance coverage:
- Prepaid Insurance: $6,000
- Cash: $6,000
c. The company purchased supplies on account:
- Supplies: $800
- Accounts Payable: $800
d. The company paid cash for selling expenses:
- Selling Expenses: $600
- Cash: $600
e. The company received cash for services provided:
- Cash: $6,000
- Service Revenue: $6,000
f. The company paid cash to settle accounts payable:
- Accounts Payable: $800
- Cash: $800
g. The company paid cash to acquire equipment:
- Equipment: $4,000
- Cash: $4,000
Journal entries are the chronological recordings of financial transactions in a company's accounting system. They serve as a detailed record, documenting each transaction's effects on various accounts, such as assets, liabilities, revenues, and expenses.
Journal entries provide a clear audit trail, helping track the flow of money and enabling the creation of financial statements.
They act as the foundation for accurate financial reporting, facilitating transparency, analysis, and decision-making within an organization.
Learn more about journal entries here:
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Final answer:
This question is about preparing general journal entries for various transactions in Belle Co.'s business. The company engages in activities such as investing cash and equipment, purchasing supplies on account, and receiving cash for services provided. The journal entries for each transaction are provided in the response.
Explanation:
Journal Entry a:
Debit: Cash ($5,900) + Equipment ($6,900) + Web servers ($12,900)
Credit: Common stock ($25,700)
Journal Entry b:
Debit: Prepaid Insurance ($6,000)
Credit: Cash ($6,000)
Journal Entry c:
Debit: Supplies ($800)
Credit: Accounts payable ($800)
Journal Entry d:
Debit: Selling expenses ($600)
Credit: Cash ($600)
Journal Entry e:
Debit: Cash ($6,000)
Credit: Service revenue ($6,000)
Journal Entry f:
Debit: Accounts payable ($800)
Credit: Cash ($800)
Journal Entry g:
Debit: Equipment ($4,000)
Credit: Cash ($4,000)
Learn more about Preparing general journal entries here:
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b. She will be creative.
c. She will be nervous, depressed, and insecure.
d. She will be easily distracted.
e. She will perform better in jobs that require significant interpersonal interaction.
Answers
Answer: d. She will be easily distracted.
Explanation:
When one is said to be conscientious, it means that they are very dedicated to their duty. They value their duty and they want to do it well. A conscientious person is focused on their duty with the aim of fulfilling it to the best of their ability and so are reliable and trustworthy.
If a person is said to be low in conscientiousness, it means that they do not value their duty as well as they should and like Jane Simpson can get easily distracted from said duty.
Answers
Answer:
i hope it helps u :)
Explanation:
In any market economy, business plays a huge role. Business is the engine of an economy. Business provides jobs that allow people to make money and goods and services that people can buy with the money they make. ... Most businesses provide people with jobs.
Answer:
Explanation:
In any market economy, business plays a huge role. Business is the engine of an economy. Business provides jobs that allow people to make money and goods and services that people can buy with the money they make. ... Most businesses provide people with jobs
15%
b.
18.67%
c.
2.8%
d.
42%
Answers
Answer:
Option D is correct (42%)
Explanation:
Option D is correct (42%)
In order to find the profit we will proceed as follow:
Given data:
Operating leverage for Donuts Unlimited=2.8
Increase in sale=15%
sales level= $270,000
Required:
Increase in Profit=?
Solution:
% Increase In profit/net income=% Increase in Sales*Operating leverage
% Increase In profit=15%*2.8
% Increase In profit=42%
Answers
Answer:
-2.4%
Explanation:
The GDP per person of the nation of Freedonia for the current and last year, respectively, are:
The growth rate (R) between this year and last year is given by:
The growth rate of real GDP per person was -2.4%.
Answers
Answer and Explanation:
The Calculation of Predetermined OH Rate is shown below:
For Materials Handling, it is
= Estimated Overhead Costs ÷ Estimated allocated base Quantity
= $54,000 ÷ 96
= $562.50 per part
For Machine Setup, it is
= Estimated Overhead Costs ÷ Estimated allocated base Quantity
= $204,000 ÷ 60
= $3,400 per setup
For Insertion of Parts, it is
= Estimated Overhead Costs ÷ Estimated allocated base Quantity
= $486,000 ÷ 96
= $5,062.50 per part
Now
Calculation of allocated OH is
For Basic Model:
Allocated OH is
= $562.50 × 32 + $3,400 × 20 + $5,062.50 × 32
= $248,000
For Professional Model:
Allocated OH is
= $562.50 × 64 + $3,400 × 40 + $5,062.50 × 64
= $496,000