FINANCIAL & MANAG ACCT (CH. 1 - 24 LOOSE
9th Edition
ISBN: 9781266904868
Author: Wild
Publisher: MCG
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Chapter 21, Problem 3BTN
To determine
Standard time:
The standard time refers to that time or the duration which the companies or the organizations set for a particular task and try to achieve their objectives in that particular duration of time. Time is considered to be a very important element in many industries.
To explain: The time elements created by two service industries to create a competitive advantage.
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FINANCIAL & MANAG ACCT (CH. 1 - 24 LOOSE
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- Poonam's material quantity variance is favorable or unfavorablearrow_forward??arrow_forwardPoonam has a standard of 1.5 pounds of materials per unit, at S6 per pound. In producing 2,000 units, Poonam used 3,100 pounds of materials at a total cost of $18,135. Poonam's material quantity variance is favorable or unfavorable?arrow_forward
- General Accountingarrow_forwardSubject: General Accountingarrow_forwardThe following information describes a company's usage of direct labor in a recent period: Actual direct labor hours used 32,500 Actual rate per hour $18.00 Standard rate per hour $16.50 Standard hours for units produced 32,000 How much is the direct labor efficiency variance? Answer: $8,250 unfavorablearrow_forward
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