**Understanding Budgeted Direct Labor Costs**Assume a company’s budgeted unit sales and its required production in units for April are 98,000 units and 96,000 units, respectively. The direct labor-hours required per unit is 1.50 hours. The company’s total budgeted direct labor cost for April is $2,268,000. What is the budgeted direct labor wage rate per hour for April?**Multiple Choice:**- $19.60- $20.27- $15.43- $15.75

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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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On November 1, Alan Company signed a 120-day, 11% note payable, with a face value of $14,400. What is the maturity value (principal plus interest) of the note on March 1? (Use 360 days a year.) Multiple Choice $14,928 $14,576 $14,664 $14,400 Mc raw Hill Type here to search 9:10 PM 96% 3/21/202
Malander Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During November, the kennel budgeted for 3,400 tenant-days, but its actual level of activity was 3,390 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for November: Data used in budgeting: Revenue Wages and salaries Food and supplies Facility expenses Administrative expenses Total expenses Actual results for November: Fixed element per month $0 $ 2,700 500 9,600 6,600 $ 19,400 $ 90,470 $ 20,606 Revenue Wages and salaries Food and supplies Facility expenses Administrative expenses The food and supplies in the flexible budget for November would be closest to: Variable element per tenant-day $28.00 $ 5.40 10.20 3.30 0.20 $ 19.10 $ 35,838 $ 20,857 $ 7,518
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Republic Industries decides to price delivery services according to the results of a recent activity-based costing (ABC) study. The study indicates Republic should charge $8 per order, 3% of annual order value for general delivery costs, $1.40 per item, and $30 for delivery. A year later, Republic collected the following information for two of its best customers: Cost driver Number of orders Number of deliveries Total number of items Annual order value Customer C Customer D 17 8 10 10 2,200 $195,000 4,400 $70,000 What are the total delivery costs charged to Customer C during the year?
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Flowers for All Occasions (FLO) produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow: Standard 8.0 Actual 8.2 Average number of roses per arrangement Price per rose Cost of roses per arrangement Flow planned to make 350 arrangements but actually made 420. What is the total materials variance based on the flexible budget? 0.35 2.80 0.30 2.46
QUESTION 3 XYZ Insurance Company uses class rating to determine the rate to charge for insurance. For one type of insurance the pure premium XYZ actuaries calculated is $75 per unit. If XYZ's expense ratio is 35%, what is the gross rate for this coverage? O a. $37.50 O b.$100.00 Oc. $75.00 d. $55.25
Using the following information, what is the cost to lease a car? (Assume there are no charges for damage at the end of the lease) Security deposit Monthly lease payment Opportunity cost of security deposit End-of-lease charges $140 $140 per month for a five-year lease $140x loan period (in years) * 3% interest $340
PV$1 PVA FV$1 FVA 3 0.77218 2.5313 1.2950 %6 3.2781 4 6% 0.79209 3.4651 1.2625 4.3746 8% 0.68058 3.9927 1.4693 5.8666 5% 0.74622 5.0757 1.3401 6.8019 10 4% 0.67556 8.1109 1.4802 12.0061 0.76567 10.4148 1.3060 13.6022 12 2.25% 42.5803 1.2705 54.0978 48 0.50% 0.78710
Timberlake Company planned for a production and sales volume of 12,000 units. However, the company actually makes and sells 13,000 units. Per unit Static Flexible standards Budget Budget Number of units 12,000 13,000 Sales revenue $65.00 $780,000 $845,000 Variable manufacturing costs: $11.00 $ 9.00 $ 4.20 143,000 117,000 Materials 132,000 Labor 108,000 Overhead 50,400 54,600 Variable general, selling, and administrative costs $11.00 132,000 143,000 Contribution margin $357,600 $387,400 Fixed costs Manufacturing overhead General, selling, and administrative 100,800 100,800 costs 45,000 45,000 Net income $211,800 $241,600 What was the sales volume variance?
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Refer to the following selected financial information from Texas Electronics. Compute the company's working capital for Year 2. Year 1 $ 33,250 Year 2 $ 38,500 100,000 90,500 65,000 84,500 126,000 130,000 13,100 10,700 393,000 343,000 108,400 112,800 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold 716,000 395,000 681,000 380,000

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Multiple Choice ο ο ο ο $1960 $20.27 το 19 $15.75