The standard direct labour specification for one of HG Ltd's products is 5 hours @ £8 per hour; last month, 6,000 units were produced, giving rise to labourefficiency and rate variances of £16,000F and £14,000A respectively. What was the actual direct labour rate per hour during the month? (To nearest £0.50)OA. £8.50OB. £8.00OC. £7.50OD. £7.00

Answer : Standard labor hour allowed = Standard labor hour allowed per unit * Actual units Standard…

Answered: e of HG Ltd's products is 5 hours @ £8…

e of HG Ltd's products is 5 hours @ £8 per hour; last month, 6,0 £14,000A respectively. What was the actual direct labour rate p

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

The following annual information is for Dexter Corporation: Product A Revenue per unit: $20.00 Variable cost per unit: $15.00 Total fixed costs: $100,000 How many units does the company have to sell to achieve an after tax income of $75,000 if the income tax rate is 25%?
Halloween, Inc. reported the following income statement data for February: Sales $150,000; Total costs $170,000; Loss ($ 20,000). The firm’s contribution margin percentage at its current selling price of $20 is 40%. What is the company’s total fixed cost? $20,000 $90,000 $60,000 $80,000
We know the followings about a given unit of the company: Planned output was 40,000 Hours, while the actual output was 39,000 Hours. They planned 3,000 EUR (From this 500 EUR is fixed cost.) costs, and they recorded 3,100 EUR on the base of actual transactions. And we talk about the internal service unit! Tasks: Let’s analyse the costs! (Cost difference)
Winny's Office Furniture has a contribution margin ratio of 16%. If fixed costs are $185,300, how many dollars of revenue must the company generate in order to reach the break-even point? Round to two decimal places. Your Answer:
If the contribution margin ratio for Harrison Company is 38 %, sales were $425,000, and fixed costs were $100,000, what was the income from operations? A) $163,500 B) $161,500 C) $54,730 61,500
6. Craig Company Inc. earns a contribution margin ratio of 36% on its main product is sold at $120 per unit. Assume that the annual break-even point is 80,000 units. 1. Compute the annual total fixed costs. 2. What is the contribution margin for every unit sold beyond the break-even point? (Round your answer to 2 decimal places).
Winny's Office Furniture has a contribution margin ratio of 16%. If fixed costs are $183,800, how many dollars of revenue must the company generate in order to reach the break-even point? Round to two decimal places.
How do you get income from operations? (see attached)
(b) What is the break-even sales in RM for an operation that sells 615 products at RM 17.50 if each item costs RM 7.05 to produce and the fixed costs for the operation are RM 3,700/month?
Am. 112.
The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital. Assume the wage per unit of labour is $10 and the cost of the capital is $50. Total output per Labour per period period 1 10 2 30 3 90 4 132 150 If this firm is producing 20 units of output per period its marginal cost i... O a. $1.00. O b. $0.17. O c. $0.50. O d. $1.67. O e. $10.00.
Am. 112.