The direct labor costs for Boundary Company follow: Standard direct labor hours 34,000 Actual direct labor hours 33,000 Direct labor efficiency variance--favorable $ 12,000 Direct labor rate variance--favorable $ 1,650 Total payroll $394,350 What was Boundary's standard direct labor rate?
a. $ 11.95
b. $ 11.49
c. $ 11.60
d. $ 12.00
d
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A time line is not meaningful unless all cash flows occur annually.
Answer the following statement true (T) or false (F)
Assume that a company records purchases net of discount. If the company bought merchandise valued at $15,000 on credit terms 3/15, net 30, the entry to record a payment for half of the purchase within the discount period would include a debit to
a. Accounts Payable for $7,275 and a credit to Cash for $7,275 b. Accounts Payable for $7,500 and a credit to Cash for $7,500 c. Accounts Payable for $7,275 and to Interest Expense for $250, and a credit to Cash for $7,500 d. Accounts Payable for $7,275 and to Interest Revenue for $250 and a credit to Cash for $7,500.
The interest charged by the bank, at the rate of 9%, on a 90-day, discounted note payable for $100,000 is
A) $9,000 B) $2,250 C) $750 D) $1,000
__________is a fast-growing way to conduct global business in which all or part of the payment for goods or services is in the form of other goods and services
Fill in the blanks with correct word.