Examlex

Solved

Jenkins Manufacturing
the Following Information Is Available for Jenkins Manufacturing $10.00 \$ 10.00

question 26

Multiple Choice

Jenkins Manufacturing
The following information is available for Jenkins Manufacturing Company for the month of June when the company produced 2,100 units:
Staudard:
Material                 2 pounds per unit @$5.80 per pound
Labor                    3 direct labor hours per unit @ $10.00 \$ 10.00 per hour


Actual:
Material              4,250 pounds purchased and used@$5.65 per poume
Labor              6,300 \quad 6,300 direction hours at $9.75 \$ 9.75 per hour


Refer to Jenkins Manufacturing Company.What is the labor efficiency variance?


Definitions:

Normal Balance

The side of an account (debit or credit) on which increases to the account are recorded.

Financial Statement

A record that outlines the performance, financial position, and cash flows of a company, offering insight into its financial health.

Permanent/Temporary

Refers to classifications of accounts where permanent accounts (assets, liabilities, and equity) are carried over across accounting periods, and temporary accounts (revenues, expenses, and dividends) are reset to zero through the closing process.

Minority Group

People who may be treated differently or unequally because of their physical or cultural characteristics, such as gender, sexual orientation, religion, or skin color.

Related Questions