Business, 12.03.2021 15:20 erica437

Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows: Standard Hours Standard Rate per Hour Standard Cost
18 minutes $17.00 $5.10

During August, 5,750 hours of direct labor time were needed to make 20,000 units of the Jogging Mate. The direct labor cost totaled $102,350 for the month.

Required:
a. What is the standard labor-hours allowed (SH) to makes 20,000 Jogging Mates?
b. What is the standard labor cost allowed (SH × SR) to make 20,000 Jogging Mates?
c. What is the labor spending variance?
d. What is the labor rate variance and the labor efficiency variance?
e. The budgeted variable manufacturing overhead rate is $4 per direct labor-hour. During August, the company incurred $21,850 in variable manufacturing overhead cost. Compute the variable overhead rate and efficiency variances for the month.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 03:10

Transactions that affect earnings do not necessarily affect cash. identify the effect, if any, that each of the following transactions would have upon cash and net income. the first transaction has been completed as an example. (if an amount reduces the account balance then enter with negative sign preceding the number e.g. -15,000 or parentheses e.g. (15, cash net income (a) purchased $120 of supplies for cash. –$120 $0 (b) recorded an adjustment to record use of $35 of the above supplies. (c) made sales of $1,370, all on account. (d) received $700 from customers in payment of their accounts. (e) purchased equipment for cash, $2,450. (f) recorded depreciation of building for period used, $740. click if you would like to show work for this question: open show work

Answers: 3

Answer

Business, 22.06.2019 19:20

Six years ago, an 80-kw diesel electric set cost $160,000. the cost index for this class of equipment six years ago was 187 and is now 194. the cost-capacity factor is 0.6. the plant engineering staff is considering a 120-kw unit of the same general design to power a small isolated plant. assume we want to add a precompressor, which (when isolated and estimated separately) currently costs $13291. determine the total cost of the 120-kw unit. (hint: skip $ and comma symbols)

Answers: 3

Answer

Business, 22.06.2019 22:00

Retail industry fundamentals credential exam,part 1 all answers

Answers: 3

Answer

Business, 23.06.2019 02:30

Suppose a starbucks tall latte cost $4.00 in the united states, 5.00 euros in the euro area and $2.50 australian dollars in australia. nominal exchange rates are .80 euros per dollar and 1.4 australian dollars per u.s. dollar. where does purchasing power parity hold? a. both the euro area and australia. b. neither the euro area or australia. c. the euro area but not australia. d. australia but not the euro area.

Answers: 1

Answer

You know the right answer?

Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standard...

Questions