The following data is given for the Happy Company: Budgeted production 1,000 units Actual production 980 units Materials: Standard price per lb $2.00 Standard pounds per completed unit 12 Actual pounds purchased and used in production 11,800 Actual price paid for materials $23,000 Labor: Standard hourly labor rate $14 per hour Standard hours allowed per completed unit 4.5 Actual labor hours
worked 4,560 Actual total labor costs $62,928 Overhead: Actual and budgeted fixed overhead $27,000 Standard variable overhead rate $3.50 per standard labor hour Actual variable overhead costs $15,500 Overhead is applied on standard labor hours. The direct labor rate variance is:
A) 912U
B) 912F
C) 2,100U
D) 2,100F
B
You might also like to view...
Suppose the following version of the APT is a good model of risk in the stock market. There are three factors: (1) the stock market's excess return, in percentage points; (2) the change over the last year in the inflation rate, in percentage points; and (3) the spread between ten-year Treasury bonds and three-month Treasury bills, in percentage points. Suppose the stock market's average excess return is 7 percentage points and the average risk-free interest rate is 1 percent, the average change in the inflation rate is 0 percentage points, and the average spread between ten-year Treasury bonds and three-month Treasury bills is 2 percentage points. Each of the following stocks has the beta coefficients shown in the table below:
?1i ?2i ?3i Microsoft2 ?1 1 Goldcrafters3 2 ?1 State Farm0 ?2 0 a.What is the expected return to each of the three stocks? Show your calculations. b.If the market's excess return were to rise 10 percentage points in a particular year (that is, instead of the average of 7 percent, the market's excess return will be 17 percent), what would you expect the effect to be on the return to each of the three stocks? Show your calculations. c.If the inflation rate was expected to rise 2 percentage points in a particular year (that is, instead of the average of 0 percent, the inflation rate will rise by 2 percentage points), what would you expect the effect to be on the return to each of the three stocks? d.If the interest-rate spread rose 2 percentage points in a particular year (that is, instead of the average of 2 percentage points, the interest-rate spread will be 4 percentage points), what would you expect the effect to be on the return to each of the three stocks? What will be an ideal response?
Rashad wants to implement team-based work in his organization that has always done things individually. In this example, the changing step might look like which of the following statements:
A. Discuss the needs for the change. B. Show a new organizational chart to employees, showing that teams are the new way that work will be organized. C. Challenge assumptions regarding working alone and getting rewarded for individual effort. D. Offering team rewards and reinforcing the new way work is organized.
Description buying is most appropriate for _____
a. breakable, perishable, or expensive items b. standardized, nonbreakable, and nonperishable merchandise c. jewelry and art works d. nonstandardized, breakable, and perishable merchandise
Some people believe that the right of privacy should be extended to the workplace. Others feel that, on the contrary, such an extension would constitute an unwarranted incursion into management's right to manage. Please comment on this debate, using examples from the text discussion of electronic monitoring, romance in the workplace, employee drug testing, and employee honesty testing. Are there particular circumstances under which it is, or is not, appropriate for employers to monitor employee behavior?
What will be an ideal response?