User Account

All Pages

What is the direct labour efficiency variance for the month

Assignment Help Accounting Basics
Reference no: EM133108207

Question - Quality Oy produces a standard size metal railing unit. Its budget for April 20X6 is as follows:

Sales: 3,000 units x 250€ = 750,000 €

Direct materials: 3,000 x (8kg x 7€) = 168,000€

Direct labour: 3,000 x (2.5 hours x 6€) = 45,000€

Production overhead = 155,000€

Other overheads = 125,000€

Net profit = 257,000 €

Quality Oy does not absorb production overheads using an overhead absorption rate. It may be assumed that all of its overheads are fixed in nature. The company's actual results for the month are as follows:

Sales: 2,950 x 255€ = 752,250 €

Direct materials: 2,950 x (7.2kg x 7.50€) = 159,300 €

Direct labour: 2,950 x (2.4hours x 6€) = 42,480€

Production overhead = 162,000€

Other overheads = 130,000€

Net profit = 258,470€

Required - What is the direct labour efficiency variance for the month?

Reference no: EM133108207

Questions Cloud

Internet for employee training and development : To what extent, or in what ways, does your company use the Internet for employee training and development?
Which model should the company produce : Using single plantwide rate, company computes overhead per unit of $16 for the standard model and $24 for the deluxe model. Which model should company produce
Identify the details that need to be changed and improve : Observe this set of working drawings and identify the details that need to be changed and improve. You can edit the design but not the concept idea
Hawthorne experiments : What were the principal findings of the "Hawthorne" experiments and how did they subsequently influence organization theory
What is the direct labour efficiency variance for the month : Quality Oy does not absorb production overheads using an overhead absorption rate. What is the direct labour efficiency variance for the month
Wework current business-level strategy : What is the WeWork's current business-level strategy? What criteria did the We Work use to decide on the countries in which to expand?
Prepare a balance sheet for the company as of january : Purchased supplies on credit for $2,400; used $800 of the supplies during January. Prepare a balance sheet for the company as of January 31
Equal employment opportunity and labor : Describe 3 key ways that Equal Employment Opportunity and Labor/Union Management statutes (Valentine et. al., chapters 3 and 15) inform HR practice. How does Ch
What are the downfalls of using artificial intelligence : What are the downfalls of using artificial intelligence in the hiring/recruiting and promoting

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd