Calculate the total earnings and effective rate of earnings per hour of three operators under Rowan System and Halsey System from the following particulars. The standard time fixed for producing 1 dozen articles is 50 hours. The rate of wages is ?1/- per hour. The actual time taken by three are as follows:- A 45 hours B 40 hours C 30 hours.

Calculate the total earnings and effective rate of earnings per hour of three operators under Rowan System and Halsey System from the following particulars. The standard time fixed for producing 1 dozen articles is 50 hours. The rate of wages is ?1/- per hour. The actual time taken by three are as follows:- A 45 hours B 40 hours C 30 hours.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

IF AN EMPLOYEE PRODUCED 120 UNITS IN NINE HOURS ON A PARTICULAR DAY,WHAT IS THE EMPLOYEE'S PAY FOR THE DAY.
The accountant for Barry Ltd compares each month's actual results with a monthly plan. The standard direct labour rates and the standard hours allowed, given the actual output in April, are shown in the following schedule: Standard direct labour rate per hour Standard direct labour hours allowed, given April output $26.00 $22.00 Labour class IIl 1,000 Labour class II 1,000 Labour class I $12.00 1,000 A new union contract negotiated in March resulted in actual wage rates that differed from the standard rates. The actual direct labour hours worked and the actual direct labour rates per hour for April were as follows. Actual direct labour rate per hour Actual direct labour hours Labour class II $28.00 1,100 Labour class II $23.00 1,300 Labour class I $14.00 750 Required: a) Calculate the following variances for April, indicating whether each is favourable or unfavourable: i direct labour rate variance for each labour class. ii direct labour efficiency variance for each labour class. b)…
Bramble Company produced 20, 300 units and sold 18, 060 during the current year. Under absorption costing, net income was $25,900. Fixed overhead was $162, 400. Determine the net income under variable costing. (Round per unit calculations to 2 decimal places, eg. 15.25 and final answer to O decimal places, eg. 125.)
The manufacturing costs of Mocha Industries for three months of the year are as follows: Month Total Cost Production April $79,092 1,440 units May 80,136 2,020 units June 81,756 2,920 units a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places.fill in the blank 1 of 1$ per unit b. Using the high-low method, determine the total fixed costs.
Robin Inc. shows the following manufacturing costs for the Third quarter of the year: Production Total in Units Costs July 3,800 $59,550 August 4,200 $62,450 September 5,500 $71,875 Using the high-low method, determine the total fixed costs. (Round intermediate calculations to two decimal places, and the final calculation to the nearest dollar.) $39,875 $27,550 $39,875 $32,000
A factory manufactures three components: A, B and C. Last week the following was recorded: Number of Labour Grade Employees Rate per hour Individual hours worked I 16 4 40 II 28 3.2 42 III 14 2.8 40 IV 10 1.6 44 Output and standard times during the same week were as follows: Components Output Standard minute(each) A 454 30 В 950 54 C 580 66 The normal working week is 136,800 seconds. Overtime is paid at a premium of 50% of the normal hourly rate. A group incentive scheme is in operation. A bonus is paid for time saved (i.e. where actual production time is less than the standard time allowed). The time saved is expressed as a percentage of hours worked and is shared between the groups as a proportion of the hours worked by each grade at a rate of 75% of the normal hourly rate. Required: a) What are the differences between time rate system and piece rate system? b) What do you understand by Incentive scheme of wage payment? c) Calculate the total payroll showing the basic pay, overtime…
The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost $71,260 73,735 77,585 April May June Production 1,120 units 1,570 units 2,270 units a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places. per unit LA b. Using the high-low method, determine the total fixed costs.
Benson Corporation estimated its overhead costs would be $22,500 per month except for January when it pays the $153,120 annual insurance premium on the manufacturing facility. Accordingly, the January overhead costs were expected to be $175,620 ($153,120 + $22,500). The company expected to use 7,900 direct labor hours per month except during July, August, and September when the company expected 9,100 hours of direct labor each month to build inventories for high demand that normally occurs during the Christmas season. The company's actual direct labor hours were the same as the estimated hours. The company made 3,950 units of product in each month except July, August, and September, in which it produced 4,550 units each month. Direct labor costs were $24.70 per unit, and direct materials costs were $10.00 per unit. Required a. Calculate a predetermined overhead rate based on direct labor hours. b. Determine the total allocated overhead cost for January, March, and August. c. Determine…
The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost Production April $102,926 1,860 Units May 105,960 2,600 June 110,798 3,780 a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places.$fill in the blank 1 per unit b. Using the high-low method, determine the total fixed costs.$fill in the blank 2
The manufacturing costs of Mocha Industries for three months of the year are as follows: April May June Total Cost $54,546 57,092 61,082 Production 1,670 Units 2,340 3,390 a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places. $ per unit b. Using the high-low method, determine the total fixed costs. $
The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost Production April $114,550 2,140 Units May 121,000 3,000 June 131,050 4,340 a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places.$ fill in the blank 1 per unit b. Using the high-low method, determine the total fixed costs.$ fill in the blank 2
The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost Production April $87,187 1,330 Units May 89,254 1,860 June 92,530 2,700 a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places.$fill in the blank 1 per unit b. Using the high-low method, determine the total fixed costs.$fill in the blank 2