Ascertain the number of employees that the manger should hire for December.

Question

Want to see the full answer?

Answer 1

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 9, Problem 3MAD

(a)

To determine

Ascertain the number of employees that the manger should hire for December.

(b)

To determine

Ascertain the direct labor time variance.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

A telephone call center uses two customer service representatives (CSRs) during the 8:30 a.m. to 9:00 a.m. time period. The standard service rate is 3.0 minutes per telephone call per CSR. Assuming a target labor utilization rate of 70 percent, how many calls can these two CSRs handle during this half-hour period? Round your answer to the nearest whole number. calls

Schoening Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for January. Revenue Employee salaries and wages Refurbishing materials Other expenses Fixed Element per Month $ 50,600 $41,200 Variable Element per Actual Total for Container January Refurbished $4,100 $ 1.100 $ 700 $ 158,600 $92,700 $ 27,000 $ 40,800 When the company prepared its planning budget at the beginning of January, it assumed that 40 containers would have been refurbished. However, 38 containers were actually refurbished during January. The activity variance for "Refurbishing materials" for January would have been closest to: $1,000 F $1,400 F $1,000 U $1,400 U

Brong Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for March. Fixed Element per Month Variable Element per Container Refurbished Actual Total for March Revenue $ 5,900 $ 108,300 Employee salaries and wages $ 49,500 $ 900 $ 66,000 Refurbishing materials $ 500 $ 9,500 Other expenses $ 40,300 $ 39,800 When the company prepared its planning budget at the beginning of March, it assumed that 22 containers would have been refurbished. However, 18 containers were actually refurbished during March. The spending variance for “Employee salaries and wages” for March would have been closest to: $300 F $300 U $3,300 F $3,300 U

Answer 2

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 9, Problem 3MAD

(a)

To determine

Ascertain the number of employees that the manger should hire for December.

(b)

To determine

Ascertain the direct labor time variance.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 9, Problem 3MAD

(a)

To determine

Ascertain the number of employees that the manger should hire for December.

(b)

To determine

Ascertain the direct labor time variance.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 9, Problem 3MAD

(a)

To determine