5. The total direct labor variance of Company J for the month of October 2020 is $500 unfavorable. The direct labor efficiency variance is $800 favorable. How much is the standard direct labor rate per hour if the actual direct labor cost is $10,000 for 1,000 hours? $11.30 $10.00 $9.50 $8.70

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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4. Company R uses a process costing system. The weighted average method is used in the computation of equivalent units of production. On June 1,
2020, the work-in process inventory consists of 10,000 units which were 50% completed as to conversion cost. Units transferred-in during the month of
June were 35,000. The ending work-in process of 8,000 units was 25% completed as to conversion cost. What is the EUP for conversion cost for the
month of June?
39,000 units
34,000 units
O 37,000 units
35,000 units
5. The total direct labor variance of Company J for the month of October 2020 is $500 unfavorable. The direct labor efficiency variance is $800 favorable.
How much is the standard direct labor rate per hour if the actual direct labor cost is $10,000 for 1,000 hours?
$11.30
$10.00
$9.50
$8.70
6. X Company estimates that 2% of its sales on account for the year ended December 31, 200A will be uncollectible. If the total sales is $4,500,000 and
20% is cash sales, the adjusting entry for the December 31, 200A will include
Accounts Receivable $90,000
Allowance for Bad Debts $ 72,000
Bad Debts Expense $ 18,000
An adjusting entry is not necessary
Transcribed Image Text:4. Company R uses a process costing system. The weighted average method is used in the computation of equivalent units of production. On June 1, 2020, the work-in process inventory consists of 10,000 units which were 50% completed as to conversion cost. Units transferred-in during the month of June were 35,000. The ending work-in process of 8,000 units was 25% completed as to conversion cost. What is the EUP for conversion cost for the month of June? 39,000 units 34,000 units O 37,000 units 35,000 units 5. The total direct labor variance of Company J for the month of October 2020 is $500 unfavorable. The direct labor efficiency variance is $800 favorable. How much is the standard direct labor rate per hour if the actual direct labor cost is $10,000 for 1,000 hours? $11.30 $10.00 $9.50 $8.70 6. X Company estimates that 2% of its sales on account for the year ended December 31, 200A will be uncollectible. If the total sales is $4,500,000 and 20% is cash sales, the adjusting entry for the December 31, 200A will include Accounts Receivable $90,000 Allowance for Bad Debts $ 72,000 Bad Debts Expense $ 18,000 An adjusting entry is not necessary
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