1. What is the actual (direct labor) wage rate per hour paid last month? 2. What is the direct labor rate variance? 3. What is the direct labor efficiency variance?

The direct labor rate variance is calculated by multiplying the standard hours that should have been worked for the actual output by the difference between the standard labor rate and the actual labor rate. O True O False

1.What is the labor rate variance ( indicate the effect of each variance by selecting "f" for favorable, U for unfavorable, and None for no effect and round your final answer to the nearest whole number)  2. What is the variable overhead efficiency variance ? ( indicate the effect of each variance by selecting "f" for favorable, U for unfavorable, and None for no effect and round your final answer to the nearest whole number)  3. what is the variable overhead rate variance?

Which of the following describes the behavior of total variable and total fixed costs when level of production increases?

What is the Total equivalent annual cost?

The following direct materials and direct labor data pertain to the operations of Sandhill Company for the month of August. Costs Actual labor rate Actual materials price Standard labor rate Standard materials price $13 $120 $12.50 $124 Quantities per hour per ton per hour per ton Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used 4,900 hours 2,000 tons 4,960 hours 1,990 tons

Problem 1-14 (AICPA Adapted) Dean Company has a P2,000,000 note payable due June 30. 2021. On December 31, 2020, the entity signed an agreement to borrow up to P2,000,000 to refinance the note payable on a long-term basis. The financing agreement called for borrowing not to exceed 80% of the value of the collateral the entity was providing. On December 31, 2020, the value of the collateral was P1,500,000. On December 31, 2020, what amount of the note payable should be reported as current liability? 2,000,000 1,500,000 800,000 500,000 a. b. с. 000 0600 d. Psoblem 1-15 (AICPA Adanted) Willem Company reported the following liabilities on December 31, 2020: Accounts payable Short-term borrowings Mortgage payable, current portion P100,000 Bank loan payable, due June 30, 2021 750,000 400,000 3,500,000 1,000,000 The P1,000,000 bank loan was refinanced with a 5-year loan on January 15, 2021, with the first principal payment due January 15, 2022. The financial statements were issued February…

prepare an income statement for last year using variable costing

kk. Subject :- Accounting

“Our workers are all under labor contracts; therefore, our labor rate variance is bound to be zero.”Discuss.