Question: 42 Tools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units, Tools- N-Time used 3,850 hours of labor at a total cost of $46,970. What is Tools-N-Time's total labor variance?

Question: 42 Tools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units, Tools- N-Time used 3,850 hours of labor at a total cost of $46,970. What is Tools-N-Time's total labor variance?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter5: Activity-based Costing And Management

Section: Chapter Questions

Problem 9MCQ: Assume that the moving activity has an expected cost of 80,000. Expected direct labor hours are...

See similar textbooks

Related questions

Q: Solve these general accounting question not use ai

A: The price/Earnings ratio is computed by dividing the stock price (market stock price) by Earnings…

Q: General Accounting

A: Explanation: Accrual basis of accounting is the method of recording transactions as and when they…

Q: (49) On January 1 of Year 1, a company purchased a machine for $10,000. The machine is expected to…

A: Step 1: Calculate the straight-line depreciation rate:Straight-line depreciation rate = 1 / Useful…

Q: Q3-Prepare the Statement of Comprehensive Income of Omega Limited for the year ended 29 February…

A: Here are the explanations and calculations that led to the preparation of the Statement of…

Q: Financial accounting

A: Explanation of Total Manufacturing Costs:Total manufacturing costs refer to the sum of all direct…

Q: niki.2

A: Approach to solving the question:The real answer is 1,460,720 but letter c is the closest.…

Q: Hello tutor answer these general accounting question not use chatgpt

A: Step 1: Define Standard Costing The standard costing method helps the company know the expectations…

Q: Please provide answer

A: Step 1: Introduction to the Variance Analysis:The quantitative measurement of the discrepancy…

Q: account expert accept

A: Step 1: Understanding the ComponentsPurchase Cost for 8 Widgets: $40.00Enhancement Cost per Widget:…

Q: Pratt Company acquired all of the outstanding shares of Spider, Incorporated, on December 31, 2024,…

A: Explanation in the preparation of the consolidated balanced sheetTo prepare the consolidated balance…

Q: On September 1, 2024, a company decides to lease office space in a building. The building's owner…

A: Step 1: See above Answer. Step 2: Step 3: Step 4:

Q: I need answer of this question

A: Now, compute the interest expense:Coupon rate = 8%, amount borrowed by the firm = $2,000Interest…

Q: Please Generate Answer with required Value provide answer in Accounting Method

A: Step 1: Step 1: Definition of Price-Earnings (P/E) RatioThe Price-Earnings Ratio (P/E Ratio) is a…

Q: Explain the following accounting terms in relation to healthcare providers:a. What is the difference…

A: A. Difference Between Gross Revenue and Net RevenueGross Revenue:Gross revenue represents the total…

Q: Total period cost

A: Explanation of Period Costs:Period costs are expenses that are not directly related to manufacturing…

Q: General accounting

A: Step 1: Define BudgetingA budget is a guide that can be compared to by a company to see how they are…

Q: Please Need Answer of this Question

A: STEPS: 1. Calculate the Net Sales Price• Net Sales Price = Sale Price - Broker Commission 2.…

Q: Total labor

A: Explanation of Standard Labor Hours: Standard labor hours represent the estimated or pre-determined…

Q: I need answer of this question

A: Expressing financial statement items as a percentage of a base period value is useful in financial…

Q: Share

A: Variable costing, also known as direct costing or marginal costing, is a method in accounting where…

Q: The following information pertains to Ball Company: Manufacturing costs $24,00,000 Units…

A: Step 1: Definition of Gross MarginGross Margin is the difference between a company's sales revenue…

Q: Accounting mini corp. Acquires a patent from maxi co

A: Detailed explanation:Acquisition Price of Patent : Cash Paid…

Q: Hercules Workout World gains a client who prepays $630 for a package of six physical training…

A: Step 1: Understanding the Transaction 1.Total Payment: $630 for six sessions. 2.Revenue Per Session:…

Q: General Accounting

A: Step 1:Identify the FormulaStep 2:Calculate Total DebtStep 3:Calculate Debt-to-Equity Ratio

Q: General accounting Need help

A: Step 1:- Define High-Low MethodThe high-low method determines the variable cost per unit (which…

Q: 36 Gross sales for the year were $100,000. During the year, sales discounts of $2,000 were recorded.…

A: Step 1: Identify the given information:Gross sales: $100,000Sales discounts: $2,000Sales returns and…

Q: Give me Answer of this Question.. need correct option

A: Step 1: Detailed Definition of Gain or Loss on Disposal of an AssetThe gain or loss on disposal of…

Q: Need answer the accounting question please solve

A: Step 1: Define Financial RatiosIn accounting, there are various financial ratios used to analyze and…

Q: None

A: Price-earnings (P/E) ratio helps investors determine the market value of a stock compared with the…

Q: Get correct answer

A: The problem requires the determination of the total debt to equity ratio. The debt-to-equity (D/E)…

Q: HITECH ELECTRONICS HiTech Electronics manufactures two new products, Tablets and Touch Screen…

A: How to compute 2022 requirements:How to compute 2023 requirements: How to calculate the required…

Q: Please need Answer please provide full Answer

A: The problem requires the determination of the capital gains yield. A capital gains yield is the rise…

Q: Can you please answer the question?

A: The problem pertains to price per share, PE ratio and EPS. Price per share is the amount it would…

Q: What is the price earnings ratio on these general accounting question?

A: Step 1: Define Price-Earnings RatioIn the domain of finance, the concept of price-earnings multiple…

Q: Compute the prime costs on these accounting question

A: Step 1: Define Total Manufacturing CostIn cost accounting, the total manufacturing costs represent…

Q: General accounting 7.9

A: Step 3: Calculate the Initial Revenue and Profit at the Original Selling PriceBefore the competitor…

Q: select account

A: Step 1: Formula DefinitionsGross Margin Ratio:The gross margin ratio indicates the percentage of…

Q: Please i Want Answer of this Account Question

A: Step 1: Define Material requisition formA material requisition form outlines the products that need…

Q: Presented below is an aging schedule for Oriole Company at December 31, 2024. Number of Days Past…

A: Approach to solving the question: For better clarity of the solution, I have attached the Excel…

Q: Financial Accounting

A: Step 1: Define Financial AnalysisExpressing financial statement items as a percentage of a base-year…

Q: Please give me answer

A: Step 1: Define Gross SalesGross sales are the sum of all sales activities before any deductions,…

Q: General Accounting

A: Step 1: Define Price-Earnings RatioPrice earnings ratio is a financial ratio that measures the…

Q: Nash, Inc., changed from the LIFO cost flow assumption to the FIFO cost flow assumption in 2025. The…

A: Step 1: Determine the Cumulative EffectIncrease in income before taxes: $1,070,000Tax rate: 20%Tax…

Q: Need experts solution only.

A: Here are detailed explanations for both requirements (4.1 and 4.2) to help you understand the…

Q: Help Answer Question 3A - 3C (Help indicate each solution with 3A-3C)

A: How Each Question was Worked on: Question 3a: Trial BalanceTo prepare the trial balance as of 1…

Q: GIVE ME ANSWER

A: Computations To calculate the cost of equity, we can use two methods: the Dividend Discount Model…

Q: Problem 16-56 (Static) Find Missing Data for Profit Variance Analysis (LO 16-4) The following,…

A: Step 1:The sales price variance is calculated as follows: Sales price variance = Sales revenue from…

Q: Financial accounting Question

A: Part 1: Calculate Operating Cash FlowGiven Data:Sales Revenue = $200,000,000Cost of Goods Sold…

Q: Business processes often involve processing transactions involving customers and suppliers.…

A: Step 1: Two-Factor Authentication (2FA)What It Is: Two-Factor Authentication, often abbreviated as…

Q: Garden Company has the capacity to produce 200,000 tillers. Variable costs are $30 per tiller. Fixed…

A: Detailed explanation: 1. Problem Breakdown and Variables DefinedThe Garden Company has three…

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
Crystal Pools estimates overhead will utilize 250,000 machine hours and cost $750,000. It takes 2 machine hours per unit, direct material cost of $14 per unit, and direct labor of $20 per unit. What is the cost of each unit produced?
Boarders estimates overhead will utilize 160,000 machine hours and cost $80,000. It takes 4 machine hours per unit, direct material cost of $5 per unit, and direct labor of $5 per unit. What is the cost of each unit produced?
Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each of the following costs, identify the cost graph that best illustrates its cost behavior as the number of units produced increases: A. Total direct materials cost B. Electricity costs of 1,000 per month plus 0.10 per kilowatt-hour C. Per-unit cost of straight-line depreciation on factory equipment D. Salary of quality control supervisor, 20,000 per month E. Per-unit direct labor cost
Total and Unit Product Cost Martinez Manufacturing Inc. showed the following costs for last month: Last month, 4,000 units were produced and sold. Required: 1. Classify each of the costs as product cost or period cost. 2. What is the total product cost for last month? 3. What is the unit product cost for last month?
Please give me answer Accounting
The standard labor rate is $8 per hour. Standard labor allowed per unit is 0.6 hours. The actual cost per labor hour is $7.5 and the actual labor hour per unit is 0.7 hours. What is the standard labor cost per output unit? a. $4.8 b. $5.6 c. $4.5 d. $5.25
Need all answered
Direct materials = $10 per unitDirect labor = $5 per unitVariable manufacturing overhead = $2 per unitFixed manufacturing overhead = $1,000Units produced is 1,000 units What is the cost per unit using the absorption method? What is the cost per unit using the variable method?
Unit cost per rims? And Unit cost per posts?
Given the following information, determine the product cost of one unit: Direct Materials = $60: Direct labor = $10; Apply Overhead based on $2 per Direct Labor hour; Direct labor hours is 4 hours per unit. O $70 per unit O $80 per unit O $78 per unit $85 per unit
The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost Production $86,462 91,068 98,353 April May June 2,460 Units 3,440 4,990 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.