JAX Inc In early 2012, JAX Inc had budgeted for the production and sales of 5,000 units at a sales price of $15 per unit. The following information is available regarding the standard cost for each unit: Direct materials: 1.50 pounds at $2.50 per lb Direct labor: 30 minutes of assembly at $.20 per minute Actual results for 2012 were determined to be as follows: Number of units produced and sold:
5,600 units Sales revenue: $100,800 ($18 per unit) Direct materials cost: $ 22,848 (9,520 lbs purchased and used at $2.40 per lb) Direct labor cost: $ 38,192 (173,600 minutes at $.22 per minute) Refer to the JAX Inc information above. What was JAX Inc's direct labor rate variance for 2012?
A) $3,360 F
B) $3,360 U
C) $3,472 F
D) $3,472 U
D
You might also like to view...
An investor expects earnings from a stock to grow at a constant rate of 3% over time and the investors' rate of discount is constant at 4%. If earnings last year were $152, then the fundamental value of the stock would be
A. $152. B. $190. C. $1,520. D. $15,656.
________ are defined as companies that satisfy the same customer need
A) Communities B) Competitors C) Trendsetters D) Industries E) Task groups
Which of these practices are usually considered global best practices in M&As?
a) Employment terms b) Openness of communication c) Performance related pay d) Performance appraisal process
What are the three conditions under which reducing employee turnover tends to have the largest effects on organizational success?
What will be an ideal response?