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2 years ago

Ravena Labs., Inc. makes a single product which has the following standards:

Business

1 answer:

slega [8]2 years ago

8 0

Answer:

Direct labor time (efficiency) variance= $4,375 unfavorable

Explanation:

Giving the following information:

Standard

Direct labor...........................................1.4 hours at $12.50 per hour

Direct labor-hours worked: 5,600 hours for $67,200.

units produced= 3,750

To calculate the direct labor efficiency variance, we need to use the following formula:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

standard quantity= 1.4*3,750= 5,250

Direct labor time (efficiency) variance= (5,250 - 5,600)*12.5

Direct labor time (efficiency) variance= $4,375 unfavorable

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1 year ago

Read 2 more answers

The law of supply and demand asserts that

Anna35 [415]

Answer:

b. the price of a good will eventually rise in response to an excess demand for that good.

Explanation:

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3 years ago

Knoll Company started Year 2 with a $1,000 balance in its Cash account, a $200 balance in its Supplies account and a $1,200 bala

Eddi Din [679]

Answer:

$750

Explanation:

Calculation to determine what the amount of supplies expense reported on the Year 2 income statement is:

Using this formula

Supplies expense=Balance in Supplies account

+Cash paid to purchase supplies)-Supplies on hand

Let plug in the formula

Supplies total amount =($200 + $600) -$50

Supplies total amount=$800-$50

Supplies total amount=$750

Therefore the amount of supplies expense reported on the Year 2 income statement is:$750.

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2 years ago