Miguez Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Cost Per UnitDirect materials 2.3liters$7.00per liter$16.10 Direct labor 0.7hours$22.00per hour$15.40 Variable overhead 0.7hours$2.00per hour$1.40 ?The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.?The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is
computed when the materials are purchased.?The labor efficiency variance for September is:
A. $1,540 F
B. $1,687 F
C. $1,687 U
D. $1,540 U
Answer: A
You might also like to view...
Customers lined up for hours to be among the first to purchase the new iPad. The excitement for the product would be considered ______ in the system.
A. an input B. feedback C. an output D. affirmation E. a transformation process
Beta, Inc had $10,000 of notes payable coming due on January 10, 2016. As of December 31, 2015, Beta was negotiating with the lender to extend the due date of the note by two additional years. On January 5, 2016, the company used $2,000 of excess cash to pay off part of the note. On January 8, 2016, the refinancing was completed, the $2,000 payment was refunded and added back to the note balance,
and the note was extended for another two years. On Beta's December 31, 2015 balance sheet, which was issued on April 1, 2016, how much of the $10,000 note should be shown as current? A) $10,000 B) $0 C) $8,000 D) $2,000
Which system combines digitized mapping with key locational data?
a. geographic information system b. primary trading-area analysis c. secondary trading-area analysis d. TIGER
List the four basic types of accounts that require adjusting entries and give an example of each