The following labor standards have been established for a particular product: Standard labor-hours per unit of output 8.1hoursStandard labor rate$14.40per hourThe following data pertain to operations concerning the product for the last month: Actual hours worked 8,700hoursActual total labor cost$129,195 Actual output 1,000unitsWhat is the labor rate variance for the month?
A. $450 U
B. $450 F
C. $3,915 U
D. $3,915 F
Answer: C
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The document which will close the open purchase requisition file is the
a. purchase order b. vendor invoice c. receiving report d. payment voucher
Sathre Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per MonthVariable Element per Well ServicedRevenue $4,500Employee salaries and wages$56,400 $900Servicing materials $700Other expenses$35,400 When the company prepared its planning budget at the beginning of December, it assumed that 34 wells would have been serviced. However, 32 wells were actually serviced during December.The "Employee salaries and wages" in the flexible budget for December would have been closest to:
A. $85,200 B. $87,000 C. $89,888 D. $84,600
Why should design collaboration capability be considered in supplier selection decisions?
What will be an ideal response?
Bonita Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. ???DaysPastDue??TotalCurrent1 to 3031 to 6061 to 90Over 90Accounts receivable$110,00068,00017,00010,0008,0007,000Percent uncollectible?1%2%5%8%13%a. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method.b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $550 credit.c. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $300 debit.
What will be an ideal response?