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Custom Clubs produces handmade golf clubs. The process is labor intensive. The speed at which a...
Custom Clubs produces handmade golf clubs. The process is labor intensive. The speed at which a club can be built depends on the skill level of the individual worker.
Management has established a standard of 4 labor hours per club. The standard wage rate is $14 per hour.
During a recent month, 2,800 custom clubs were produced. Management was pleased that only 5,100 labor hours were worked, however total wages amounted to $62,500.
Compute the total variance for labor, and determine how much is related to rate and efficiency components
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If there any fraction errors are due to factors
ekkarill92 answered 2 years agoRelated Solutions
Parent Golf produces customized golf clubs. The process is labor intensive. The speed at which a...
Parent Golf produces customized golf clubs. The process is labor
intensive. The speed at which a club can be built depends on the
skill level of the individual worker. Management
has established a standard of 4.0 labor hours per club. The
standard wage rate is $17 per
hour. During a recent month, 1,500 clubs were produced.
Management was pleased that
only 5,100 labor hours were required. However total wages
amounted to $122,400. How should we analyze this situation in order...
8. Dangerfield Enterprises produces three kinds of golf clubs: Fancy, Light, and Disco. These unique clubs...
8. Dangerfield Enterprises produces three kinds of golf clubs:
Fancy, Light, and Disco. These unique clubs incur overhead costs
during production. The manager at Dangerfield Enterprises examined
the overhead costs and determined the cost drivers for each cost
object.
ABC level
Overhead cost
Cost driver
Fancy
Light
Disco
Unit
$400,000
Number of units
2,300
2,500
3,200
Batch
$600,000
Number of set-ups
30
50
70
Product
$400,000
Percent of usage
30%
25%
45%
Facility
$800,000
Square feet
120,000
160,000
220,000
Using...
Gilmore Corp started in business on 1/1/2014. The company produces golf clubs which it expects to...
Gilmore Corp started in business on 1/1/2014. The company
produces golf clubs which it expects to sell for $80 per unit. The
accountant has produced the following forecast income statement for
2014 using absorption costing:
Gilmore Corp: Absorption costing income statement for 2014
$
Sales revenue (5,000 clubs @ $80 per unit
400,000
Variable cost of goods sold:
direct materials & labor (5,000 clubs @ $26 per unit)
(130,000)
Fixed cost of goods sold*
(20,000)
Gross profit
250,000
Variable sales...
Sportway Inc. produces high-quality tennis racquets and golf clubs using a patented forming process and high-quality...
Sportway Inc. produces high-quality tennis racquets and golf
clubs using a patented forming process and high-quality
hand-finishing. Products move through two production departments:
Forming and Finishing. The company uses departmental overhead rates
to allocate overhead costs. Overhead is allocated based on
machine-hours in Forming and direct labour cost in Finishing.
Information related to estimated volumes and denominator values for
the coming year are provided below:
Tennis Racquets
Golf Clubs
Annual production and sales
5,200
8,300
Direct materials per unit
$...
Suppose that a Home country is a labor-abundant country, and produces bananas (labor intensive) and computers...
Suppose that a Home country is a labor-abundant country, and
produces bananas (labor intensive) and computers (capital
intensive). Given all the theory and assumptions of the
Heckscher-Ohlin model holds true, answer the following
questions:
A). Draw and explain in a graph the free trade equilibrium for
Home Country (Remember PPFs? Make sure to clearly indicate the
production point, the consumption point, and the quantity of
exports and imports).
B). In the graph drawn above for question (a), show the effects...
Suppose that a Home country is a labor-abundant country, and produces bananas (labor intensive) and computers...
Suppose that a Home country is a labor-abundant country, and
produces bananas (labor intensive) and computers (capital
intensive). Given all the theory and assumptions of the
Heckscher-Ohlin model holds true, answer the following
questions:
A). Draw and explain in a graph the free trade equilibrium for
Home Country (Remember PPFs? ! Make sure to clearly indicate the
production point, the consumption point, and the quantity of
exports and imports).
B). In the graph drawn above for question (a), show the...
Suppose a country experiences a significant immigration of labor. Further, this country produces both labor-intensive and...
Suppose a country experiences a significant immigration of
labor. Further, this country produces both labor-intensive and
capital intensive goods. According to the Rybczynski theorem, what
changes in the production of the two type of goods should we
anticipate because of the labor immigration? Be sure to use the
Rybczynski theorem to answer the question.
The following audit report was drafted by a trainee on the audit of Golf (Pty) Ltd (“Golf”), a company which manufactures golf clubs.
The following audit report was drafted by a trainee on the audit of
Golf (Pty) Ltd (“Golf”), a company which manufactures golf clubs.
The trainee was asked to draft the report at the conclusion of the
audit for the financial year end 31 March 2017 as part of
on-the-job training and you have to evaluate his report. The
shareholders of Golf included a clause in the company’s Memorandum
of Incorporation which requires that the company’s annual financial
statements are extremely...
Which of the following statement is correct? Select one: a. Firms in labor-intensive industries with enormous...
Which of the following statement is correct?
Select one:
a. Firms in labor-intensive industries with enormous production
economies of scale may be forced to sell overseas in order to
spread their overhead over a larger quantity of sales.
b. The unit cost reduction through high volume production is
called the economies of scale.
c. All the answers are incorrect.
d. The multinational financial system enables companies to avoid
exchange rate risk.
e. The distinguishing characteristic of the multinational
corporation (MNC)...
Two Way ANOVA . A golfer has recently purchased new golf clubs, which he believes will...
Two Way ANOVA .
A golfer has recently purchased new golf clubs, which he
believes will significantly improve e his game. Below are the
scores of three rounds of golf played at three different golf
courses with the old and the new clubs. C
Clubs
Course
Ahwatukee
Karsten
Foothills
Old
90
91
88
87
93
86
86
90
90
New
88
90
86
87
91
85
85
88
88
(a) Conduct an analysis of variance. Using aplha = 0.05,
what...
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