What is the labor rate variance

Assignment Help Accounting Basics
Reference no: EM132681946

Questions -

1. What is the difference between a cost center and a profit center? Give a complete answer that demonstrates what critical element distinguishes the profit center from the cost center.

2. Describe the difference between a centralized and a decentralized management style.

3. What is the difference between traceable costs and common costs?

4. What are the four segments of a traditional balanced scorecard?

5. Annapolis Company completes job #601 which has a standard of 510 labor hours at a standard rate of $19.30 per hour. The job was completed in 510 hours and the average actual labor rate was $18.30 per hour. What is the labor rate variance? A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.

6. Annapolis Company completes job #601 which has a standard of 590 labor hours at a standard rate of $19.80 per hour. The job was completed in 560 hours and the average actual labor rate was $19.70 per hour. What is the labor efficiency (quantity) variance? A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.

Reference no: EM132681946

Questions Cloud

What production level for the remainder of the year : What production level for the remainder of the year gives the largest cost of goods sold for the year? What is that cost of goods sold
Critically discuss the concept of overconfidence : Critically discuss the concept of overconfidence and how it leads to misallocation of resources and increased risk.
Estimate the amount of cost of goods sold : The company has a standard mark-up of 60% on invoiced cost. Inventory at the beginning of the year was $1,840,000. Estimate the amount of cost of goods sold
Create a list of the five most significant risks : Imagine you are considering opening a business. Share the type of business you would open. Then, create a list of the five most significant risks that you must.
What is the labor rate variance : The job was completed in 510 hours and the average actual labor rate was $18.30 per hour. What is the labor rate variance
Explain the most relevant threat to independence for kfp : The entire group of companies prepare their financial statements in accordance with ASPE. Explain the most relevant threat to independence for KFP
Compute the payback for the project : Annual cash flows are expected to be: $10,000 in year 1; $12,000 in year 2; $16,000 in year 3; and $14,000 in year 4. Compute the payback for the project
Prepare the current asset section of booboos balance sheet : BooBoo s Home Health Care has the following adjusted account balances at April 30, 2017. Prepare the current asset section of BooBoos balance sheet
6CI007 Database Server Management Assignment : 6CI007 Database Server Management Assignment Help and Solution, University of Wolverhampton - Assessment Writing Service

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.

  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!

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