At 31 March 20X1 an organisation had 5,400 employees. During the previous year 750 had left the organisation, although the management had decided that only 600 needed replacing and had recruited accordingly. What was the labour turnover rate for the year to 31 March 20X1 (to 2 decimal places)?

At 31 March 20X1 an organisation had 5,400 employees. During the previous year 750 had left the organisation, although the management had decided that only 600 needed replacing and had recruited accordingly. What was the labour turnover rate for the year to 31 March 20X1 (to 2 decimal places)?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June $155,600 $192,800 $213,600 Manufacturing costs* Insurance expense** 880 Depreciation expense 2,180 Property tax expense*** 590 *Of the manufacturing costs, three-fourths is paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $880 a month; however, the insurance is paid four times yearly in the first month of the quarter (i.e., January, April, July, and October). ***Property tax is paid once a year in November. 880 2,180 590 880 2,180 590 The cash payments expected for Finch Company in the month of May are O a. $183,500 O b. $144,600 Oc. $38,900 O d. $222,400
Power Co.'s labor information for June is as follows: Direct labor hours worked 67,000 Standard labor hours for units manufactured 70,000 Unfavorable direct labor rate variance $26,800 Total payroll for labor $824,100 A. What was the actual labor rate per hour? Round your answer to two decimal places. Actual labor rate $fill in the blank 1 per hour B. What was the standard labor rate per hour? Round your answer to two decimal places. Standard labor rate $fill in the blank 2 per hour C. What was the total standard labor cost for units produced in June? Total standard labor cost $fill in the blank 3 D. What was the direct labor time variance for June? Direct labor rate variance $fill in the blank 4
Carrie Overwood works fluctuating work schedules. Besides her fixed salary of $1,044 per week, her employment agreement provides for overtime pay at an extra half-rate for hours worked over 40. This week she worked 48 hours. Compute the following amounts. Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent. a. The overtime earnings: $87.04 1044/48= 21.75 21.75 x 0.5= 10.88 8x 10.88= 87.04 b. The total earnings: $1,131.04 1044+ 87.04= 1,131.04 c. If this was a BELO plan with a pay rate of $23.45 per hour and a maximum of 48 hours, how much would Overwood be paid for 42 hours? $ NOTE: I already figure out letter A & B. I just need help with letter C please.
Power Co.'s labor information for June is as follows: Direct labor hours worked 69,100 Standard labor hours for units manufactured 72,000 Unfavorable direct labor rate variance $24,185 Total payroll for labor $839,565 A. What was the actual labor rate per hour? Round your answer to two decimal places. Actual labor rate $ per hour B. What was the standard labor rate per hour? Round your answer to two decimal places. Standard labor rate $ per hour C. What was the total standard labor cost for units produced in June? Total standard labor cost $ D. What was the direct labor time variance for June? Direct labor rate variance $
Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: June $201,000 Manufacturing costs" Insurance expense** April May $157,200 $197,600 970 970 2,200 420 2,200 420 970 Depreciation expense Property tax expense*** "Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $970 a month; however, the insurance is paid four times yearly in the first month of the quarter, (.e., January, April, July, and October). ***Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of May are O&$187.500 b. $39,300 Oe5148,200 Od $226,800 2,200 420
XYZ added 12 additional workers to its manufacturing plant, which increased the daily payroll from $12,530 to $14,686, but output went from 1,091 to 4,898 units per day. What was the Percentage Productivity Increase from this move? (Show your answer in decimal for to 3 places -- if you calculated the answer to be 12.3% then input 0.123).
A company has downsized by laying off 10,585 employees because of prolonged closures due to COVID. This represents 12% of its workers. How many employees were there prior to the layoffs?
Joson Incorporated produces and sells two products. Data concerning those products for the most recent month appear below: Product A Product B Sales $ 30,000 $ 35,000 Variable expenses $ 11,800 $ 26,550 The fixed expenses of the entire company were $39,160. The break-even point for the entire company is closest to:
The standard direct labor rates in effect for the current fiscal year and the standard hours allowed for the actual output of work for July are shown in the following schedule. Worker classification Standard Direct Labor Rate per Hour $60 Standard Direct Labor-Hours Allowed for Output 1,380 1,840 2,300 II 55 III 45 The wage rates for each labor class increased under the terms of a new contract. The standard wage rates were not revised to reflect the new contract. The actual direct labor-hours worked and the actual direct labor rates per hour experienced for the month of July were as follows. Actual Direct Labor Rate Worker Classification Actual Direct per Hour $64 Labor-Hours 1,470 II 58 1,950 2,380 III 46 Required: Calculate the dollar amount of the total direct labor variance for July for Matthews & Bros. and break down the total variance into the following components: a. Direct labor price and efficiency variances. b. Direct labor mix and yield variances.
Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: May $198,000 April $156,000 a. $49,500 b. $252,000 c. $202,500 d. $153,000 Manufacturing costs* Insurance expense** Depreciation expense Property tax expense*** *Of the manufacturing costs, three-fourths is paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $900 a month; however, the insurance is paid four times yearly in the first month of the quarter (i.e., January, April, July, and October). ***Property tax is paid once a year in November. The cash payments for Finch Company expected in the month of June are 900 1,850 500 900 1,850 June 500 $204,000 900 1,850 500 Previous Next
The service department at Major Motors sold $48,000 in service last month. They had direct costs of $16,500 to pay their technicians. They were not given credit for any parts sales or expenses because that was the responsibility of their separate parts department. They were, however, allocated $29,250 in fixed expenses. What is the gross profit Major Motors earned last month?