Neighborhood Farming LLC. manufactures frozen vegetables and provided the following information related to their direct labor costs: Rate Hour Standard $15.60 0.80 Actual $17.00 0.60 Actual production was 6,000 units of packaged vegetables while the planned production was 5,000 units. Determine the direct labor time variance. O-$18,720 favorable O $18,720 unfavorable O-$13,680 favorable O $13,680 unfavorable
Q: Suppose you purchased a 20-year U.S. treasury bond with a 6% annual coupon ten years ago at par, but…
A: The objective of the question is to calculate the yield on investment if the bond is held until…
Q: Cherokee Incorporated is a merchandiser that provided the following information Number of units sold…
A: Step 1:Answer 1.The traditional income statement is presented hereunder:…
Q: Am. 139.
A: Step 1: You need to figure out how much the new equipment is worth. The new air-cooled equipment is…
Q: Required information [The following information applies to the questions displayed below.] Delph…
A: To answer these questions, we need to use the given information and perform the required…
Q: A, B , And E only please
A: Step 1: A) Unit production cost using variable costing:Direct material$49Direct labor$53Variable…
Q: City Shoe's custodial expense for the year totaled $10,400 and is to be allocated on the basis of…
A: Step 1: Let us first look at the information givenTotal custodial expenses = $10,400Floor space…
Q: None
A:
Q: None
A:
Q: Sanchez's Bowling Alley's adjusted trial balance as of December 31, 2025, is presented below: View…
A: The objective of this question is to prepare the closing entries, post-closing trial balance, and…
Q: Correct Answer provide please with explanation
A: Justification for Correct Answer and Explanation of Incorrect OptionsCorrect Answer:…
Q: None
A: Lexington Garden Supply purchased Group of Land, Building and Equipment for $200,000We have the fair…
Q: Question 2 (150 word) Required: Showing workings,…
A: The objective of the question is to calculate the capital gain or loss for Alex from the sale of two…
Q: None
A: The objective of the question is to calculate the materials price variance for March for Puvo,…
Q: the following facts pertain to a non-cancelable lease agreement between Alschuler leasing company…
A: a. Lessee's accounting period ends on September 30:: Explanation: Interest Expense: $20,027…
Q: A company has the following inventory-related information at the end of 2015: Item Quantity Unit…
A: Detailed Explanation of the Lower of Cost or Market Rule Application1. Understanding the Lower of…
Q: Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State…
A: Step 1:Step 2:Step 3: Step 4:
Q: Give me right answer
A: 2017Average Total Assets = (88,702 + 89,494) / 2 = 89,098Asset Turnover = 32,176 / 89,098 = 0.36ROA…
Q: Which of the following is considered part of the product costs under absorption costing but not…
A: The objective of the question is to identify the cost that is considered as part of the product…
Q: Hartford Research issues bonds dated January 1 that pay interest semiannually on June 30 and…
A: Step 1: Introduction to bonds payableBonds payable refers to a type of long-term debt that a company…
Q: Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to…
A: To compute the total taxes for Mest Company, we need to calculate the FICA Social Security taxes,…
Q: help please answer in text form with proper workings and explanation for each and every part and…
A: Detailed explanation:Horizontal analysis of the asset accounts enable management to examine changes…
Q: ion) eBook 4 Debit Debit v2.cengagenow.com Drawing Print Item Credit Credit Debit Debit Revenue +…
A: Let's break down each step in detail with relevant examples for better understanding:Step 1:…
Q: A manufacturer is considering buying a new machine that will allow it to produce a new product.…
A: Step 1:Computation of the accounting rate of return:…
Q: A price variance measures: Group of answer choices How good a company is in keeping its unit costs…
A: The objective of the question is to understand what a price variance measures in the context of…
Q: Am120.
A: The objective of the question is to calculate the accounting rate of return (ARR) on the investment…
Q: An agronomist is evaluating the resistance to insect herbivory of a two genetically modified strains…
A: To evaluate the null hypothesis that there is no difference in insect damage between the three…
Q: Sanchez's Bowling Alley's adjusted trial balance as of December 31, 2025, is presented below: View…
A: The objective of this question is to prepare the closing entries, post-closing trial balance, and…
Q: kau.3
A: Step 1:Computation of the aggregate of cost drivers for both the products: Nubby tiresSmooth…
Q: Oxford Company has limited funds available for investment and must ration the funds among four…
A: Step 1: The calculation of the Profitability index and NPV ABCDEF1ProjectsInvestmentPV of cash…
Q: Lavado Rapido is a Mexican company that owns and operates a large automatic car wash facility near…
A: For Lavado Rapido, a large automatic car wash facility near Mexico City, the preparation of a…
Q: Using EDGAR (Electronic Data Gathering, Analysis, and Retrieval system), find the annual report…
A: Annual reports, particularly the 10-K filings submitted to the SEC's EDGAR database, serve as…
Q: On January 3, 2024, Oriole Company acquires $410000 of Pharoah Company's 10-year, 10% bonds for…
A: Step 1: Compute the coupon interest Face value 410,000 multiply: Coupon rate 10% Coupon…
Q: None
A: Capital Budgeting is defined as the process by which a business determines which fixed asset…
Q: Moore Company purchased an item for inventory that cost $26 per unit and was priced to sell at $42.…
A: The LCM (Lower of Cost or Market) rule dictates reporting the inventory at the lower value between…
Q: (Answer the following questions based on the Accounting for the Collapse of Dick Smith case. The…
A: Dick Smith Group (DSG) faced significant issues with its inventory management, which ultimately…
Q: Xander's Muffins is trying to decide whether or not to continue a particular muffin flavour. The…
A: The objective of the question is to calculate the net profit of Xander's Muffins if they decide to…
Q: Go to https://taxfoundation.orgLinks to an external site. . Find a current article published in the…
A: Article Summary: "Pillar Two and the Threat to the U.S. Tax Base"The Tax Foundation's article titled…
Q: help please answer in text form with proper workings and explanation for each and every part and…
A: Step 1:Define Earning per share:Earning per share (EPS) is the ratio between the net profit and…
Q: Surf Company can sell all of the two surfboard models it produces, but it has only 412 direct labor…
A: Required A: For the Glide model: Contribution margin per unit = $212 Direct labor hours per unit = 2…
Q: The financial year master budget has been prepared for the new subsidiary Panda Pet Food Online…
A: Sure, let's tackle each requirement step by step.1. Cash Budget for Panda Pet Food Online for the…
Q: Nathan deposits $800 at the end of every quarter for 7 years in a retirement fund at 5.12%…
A: 1. This is a simple annuity due. A financial arrangement known as an annuity is one in which a…
Q: Ipanema Beach, a Brazilian Company, is considering establishing an operation in the United States to…
A: A Brazilian business called Ipanema Beach is assessing a possible US investment to manufacture and…
Q: F2
A: Step 1:The monthly contributions are assume to be made at the end of each month. Hence, it is case…
Q: In its first year of operations, Carla Vista Corporation purchased, available-for-sale debt…
A: Step 1:CARLA VISTA CORPORATIONBalance SheetDecember 31, 2027Investments: Debt Investments (at fair…
Q: Physics
A:
Q: None
A: Step 1: Introduction to Contribution Margin:The difference between the sales revenue and the…
Q: nku.8
A: The objective of this question is to determine whether Safari Inc. will need a short-term loan in…
Q: None
A: Transaction 1: Purchase of raw materialsDebit Raw Materials Inventory for $70,000Credit Cash for…
Q: The Prince-Robbins partnership has the following capital account balances on January 1, 2024:…
A:
Q: Qustion3 Delivery Vehicles On 01 March 2017 (commencement date), Granny Limited purchased four…
A: In that case, allow me to break down the diary entries and the reasoning that went into doing…
A2
Unlock instant AI solutions
Tap the button
to generate a solution
Click the button to generate
a solution
- Neighborhood Farming LLC. manufactures frozen vegetables and provided the following information related to their direct labor costs: Information for Direct Labor Costs Data Rate Hour Standard $15.60 0.80 Actual $17.00 0.60 Actual production was 6,000 units of packaged vegetables while the planned production was 5,000 units. Determine the direct labor time variance. Group of answer choices -$18,720 favorable $13,680 unfavorable -$13,680 favorable $18,720 unfavorableNeighborhood Farming LLC. manufactures frozen vegetables and provided the following information related to their direct labor costs: Info Regarding Direct Labor Costs Data Rate Hour Standard $15.60 0.80 Actual $17.00 0.60 Actual production was 6,000 units of packaged vegetables while the planned production was 5,000 units. Determine the direct labor rate variance. Group of answer choices -$5,040 favorable $5,040 unfavorable -$11,400 favorable $11,400 unfavorableA company sells mulch by the cubic yard. Grade A much sells for $150 per cubic yard and has variable costs of $65 per cubic yard. The company has fixed expenses of $15,000 per month. In August, the company sold 240 cubic yards of Grade A mulch. A. Calculate the contribution margin per unit for Grade A mulch. B. Calculate the contribution margin ratio of the Grade A mulch. C. Prepare a contribution margin income statement for the month of August.
- Business Specialty, Inc., manufactures two staplers: small and regular. The standard quantities of direct labor and direct materials per unit for the year are as follows: The standard price paid per pound of direct materials is 1.60. The standard rate for labor is 8.00. Overhead is applied on the basis of direct labor hours. A plantwide rate is used. Budgeted overhead for the year is as follows: The company expects to work 12,000 direct labor hours during the year; standard overhead rates are computed using this activity level. For every small stapler produced, the company produces two regular staplers. Actual operating data for the year are as follows: a. Units produced: small staplers, 35,000; regular staplers, 70,000. b. Direct materials purchased and used: 56,000 pounds at 1.5513,000 for the small stapler and 43,000 for the regular stapler. There were no beginning or ending direct materials inventories. c. Direct labor: 14,800 hours3,600 hours for the small stapler and 11,200 hours for the regular stapler. Total cost of direct labor: 114,700. d. Variable overhead: 607,500. e. Fixed overhead: 350,000. Required: 1. Prepare a standard cost sheet showing the unit cost for each product. 2. Compute the direct materials price and usage variances for each product. Prepare journal entries to record direct materials activity. 3. Compute the direct labor rate and efficiency variances for each product. Prepare journal entries to record direct labor activity. 4. Compute the variances for fixed and variable overhead. Prepare journal entries to record overhead activity. All variances are closed to Cost of Goods Sold. 5. Assume that you know only the total direct materials used for both products and the total direct labor hours used for both products. Can you compute the total direct materials and direct labor usage variances? Explain.Use the following standard cost card for 1 gallon of ice cream to answer the questions. Actual direct costs incurred to make 50 gallons of ice cream: 275 quarts of cream at $1.05 per quart 832 ounces of sugar at $0.075 per ounce 165 minutes of labor at $37 per hour All material used was bought during the current period. A. Compute the material and labor variances. B. Comment on the results and possible causes of the variances.The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
- Use the following standard cost card for 1 gallon of ice cream to answer the questions. Actual direct costs incurred to make 50 gallons of ice cream: 275 quarts of cream at $1.05 per quart 832 ounces of sugar at $0.075 per ounce 165 minutes of labor at $37 per hour All materials used were bought during the current period. A. Compute the material and labor variances. B. comment on the results and possible causes of the variances.Tub Co. uses a standard cost system. The following information pertains to direct labor for product B for the month of October: Standard hours allowed for actual production 2,000 Actual rate paid per hour P 8.40 Standard rate per hour P 8.00 Labor efficiency variance P 1,600UF What were the actual hours worked? 1,810 2,200 2,190 1,800Larson Manufacturing uses a standard cost system. The direct labor cost standard is $11.00 direct labor hour. The direct labor efficiency standard is 0.5 direct labor hour per unit. Actual direct labor for the month is 1,200 hours for a total cost of $18,000.00. Production for the month was 3,100 units. The journal entry to record direct labor incurred but not paid would be: O A. Work-in - Process Inventory Direct Labor Cost Variance Direct Labor Efficiency Variance Wages Payable O B. Work-in - Process Inventory Direct Labor Cost Variance Direct Labor Efficiency Variance Wages Payable O C. Work-in - Process Inventory Direct Labor Cost Variance Direct Labor Efficiency Variance Wages Payable O D. Work-in - Process Inventory Direct Labor Cost Variance Direct Labor Efficiency Variance Wages Payable 18,000 3,850 3,850 18,000 17,050 4,800 3,850 17,050 4.800 4.800 17,050 17,050 4.800 25,700 3,850 18,000 -C
- Amber Company produces iron table and chair sets. During October, Amber's costs were as follows: Actual purehase price Actual direet labor rate Standard purchase price Standard quantity for sets produced Standard direct labor hours alloved $ 3.00 per lb. $8.20 per hour $ 2.80 per lb. 1.040,000 ibs. 21,000 1,295,000 lbs. 17,000 1,070,000 lbs. $6, 120 F Actual quantity purchased in October Actual direct labor hours Actual quantity used in Oetober Direct labor rate variance Required: 1. Calculate the total cost of purchases for October. 2. Compute the direct materials price variance based on quantity purchased. 3. Calculate the direct materials quantity variance based on quantity used. 4. Compute the standard direct labor rate for October. 5. Compute the direct labor efficiency variance for October.15. Reems Corporation uses a standard cost system. Direct labor information for Product E for the month of November is as follows: Standard labor price, P6.10 per hour Actual rate paid, P6.00 per hour Standard quantity allowed for actual production, 1,500 hours Labor efficiency variance, P600 unfavorable What is the actual hours worked? Group of answer choices 1,402 1,400 1,600 1,598XYZ Company makes one product and has calculated the following amounts for direct labor: AH x AR = $84,000; AH x SR = $83,000; SH x SR = $85,000. Compute the direct labor cost variance. Multiple choice question. $1,000 U $1,000 F $2,000 F $2,000 U