Business, 29.11.2019 07:31, hailscooper7363
Havensham corp produces ress shirts. the company uses a standard costing system and has set the following standards for direct materials an direct labor: fabric (1.5 yds@$2.80) $4.20 direct labor (1.1 hr @ $20) $22.00 total prime cost $26.20 during the year, haversham produced 9,800 shirts. the actual fabric purchased was 14,600 yards at $2.74 per yard. there were no beginning or ending inventories of fabric. actual direct labor was 10,900 hours at $19.60 per hour.
1. compute the costs of fabric and direct labor that should have been incurred for the production of 9,800 shirts.
2. compute the total budget variances for direct materials and direct labor.
3. break down the total budget variance for direct materials into a price variance and a usuage variance. prepare the journal entries associated with these variances.
4. break down the total budget variance for direct labor into a rate variance and an efficiency variance. prepare journal entries associated with these variances.
Answers: 1
Business, 22.06.2019 11:10, jordanbyrd33
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Business, 22.06.2019 11:30, laylay120
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Business, 22.06.2019 11:50, vdirectioner7634
The basic difference between macroeconomics and microeconomics is that: a. microeconomics looks at the forest (aggregate markets) while macroeconomics looks at the trees (individual markets). b. macroeconomics is concerned with groups of individuals while microeconomics is concerned with single countries. c. microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets). d. macroeconomics is concerned with generalization while microeconomics is concerned with specialization.
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Havensham corp produces ress shirts. the company uses a standard costing system and has set the foll...
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