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Glove Co makes high quality, hand-made gloves which it sells for an average of $180 per pa

ir. The standard cost of labour for each pair is $42 and the standard labour time for each pair is three hours. In the last quarter, Glove Co had budgeted production of 12,000 pairs, although actual production was 12,600 pairs in order to meet demand.

37,000 hours were used to complete the work and there was no idle time. The total labour cost for the quarter was $531,930.

At the beginning of the last quarter, the design of the gloves was changed slightly. The new design required workers to sew the company’s logo on to the back of every glove made and the estimated time to do this was 15 minutes for each pair. However, no-one told the accountant responsible for updating standard costs that the standard time per pair of gloves needed to be changed. Similarly, although all workers were given a 2% pay rise at the beginning of the last quarter, the accountant was not told about this either. Consequently, the standard was not updated to reflect these changes.

When overtime is required, workers are paid 25% more than their usual hourly rate.

Required:

(a) Calculate the total labour rate and total labour efficiency variances for the last quarter. (2 marks)

(b) Analyse the above total variances into component parts for planning and operational variances in as much detail as the information allows. (6 marks)

(c) Assess the performance of the production manager for the last quarter. (7 marks)

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更多“Glove Co makes high quality, h…”相关的问题

第1题

以下说法正确的是（）

A．Ingvar Kamprad makes it very clear that high prices are the key to future successB．IKEA founder Ingvar Kamprad refers to a difference of at least 5 percent on non-catalogue productsC．Stress to the participants that they must take action on price differences immediatelyD．Immediately report price differences involving IKEA catalogue products to the Country/Retail Organisation. Demand a response within 48 hours

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第2题

A piece of music can be said to be good if______.A．it helps to while away the hoursB．it co

A piece of music can be said to be good if______.

A．it helps to while away the hours

B．it combines different rhythms and sounds

C．it makes people forget their sorrows and worries quickly

D．it expresses a certain feeling in a proper way

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第3题

听力原文：W: Why is the bill of lading so important？M: Because it shows the terms of the co

听力原文：W: Why is the bill of lading so important？

M: Because it shows the terms of the contract of carriage, gives evidence of the shipment of goods, and makes sure that the holder of it has the property in the goods.

Q: Which is one of the functions of a bill of lading but not mentioned in the conversation？

(18)

A．The receipt of the goods given by the ship master.

B．The evidence of the terms of the contract of carriage.

C．The evidence of the shipment of goods.

D．The evidence that the holder of it has the property in the goods.

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第4题

Helot Co is thinking about expanding its business and introducing a new computer repair se

rvice for customers. The board has asked if target costing could be applied to this service.

Which of the following statements regarding services and the use of target costing within the service sector is true？

A.The purchase of a service transfers ownership to the customer

B.Labour resource usage is high in services relative to material requirements

C.A standard service cannot be produced and so target costing cannot be used

D.Service characteristics include uniformity, perishability and intangibility

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第5题

The Hi Life Co （HL Co) makes sofas. It has recently received a request from a customer to

The Hi Life Co (HL Co) makes sofas. It has recently received a request from a customer to provide a one-off order of sofas, in excess of normal budgeted production. The order would need to be completed within two weeks. The following cost estimate has already been prepared:

The Hi Life Co （HL Co) makes sofas. It has recentl

Notes

1 The fabric is regularly used by HL Co. There are currently 300 m2 in inventory, which cost $17 per m2. The current purchase price of the fabric is $17·50 per m2.

2 This type of wood is regularly used by HL Co and usually costs $8·20 per m2. However, the company’s current supplier’s earliest delivery time for the wood is in three weeks’ time. An alternative supplier could deliver immediately but they would charge $8·50 per m2. HL Co already has 500 m2 in inventory but 480 m2 of this is needed to complete other existing orders in the next two weeks. The remaining 20 m2 is not going to be needed until four weeks’ time.

3 The skilled labour force is employed under permanent contracts of employment under which they must be paid for 40 hours’ per week’s labour, even if their time is idle due to absence of orders. Their rate of pay is $16 per hour, although any overtime is paid at time and a half. In the next two weeks, there is spare capacity of 150 labour hours.

4 There is no spare capacity for semi-skilled workers. They are currently paid $12 per hour or time and a half for overtime. However, a local agency can provide additional semi-skilled workers for $14 per hour.

5 The $3 absorption rate is HL Co’s standard factory overhead absorption rate; $1·50 per hour reflects the cost of the factory supervisor’s salary and the other $1·50 per hour reflects general factory costs. The supervisor is paid an annual salary and is also paid $15 per hour for any overtime he works. He will need to work 20 hours’ overtime if this order is accepted.

6 This is an apportionment of the general administration overheads incurred by HL Co. Required: Prepare, on a relevant cost basis, the lowest cost estimate which could be used as the basis for the quotation. Explain briefly your reasons for including or excluding each of the costs in your estimate.

Required:

Prepare, on a relevant cost basis, the lowest cost estimate which could be used as the basis for the quotation. Explain briefly your reasons for including or excluding each of the costs in your estimate.

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第6题

glove（）

A.手表

B.手套

C.围巾

D.手帕

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第7题

选出不同类的单词（）

A.scarf

B.glove

C.pretty

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第8题

glove（）

A.爱

B.手套

C.耳罩

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第9题

Scientists find that hard-working people live longer than average men and women. Career wo

men are healthier than housewives. Evidence shows that the jobless are in poorer health than jobholders. An investigation shows that whenever the unemployment rate increases by 1%, the death rate increases by 2%. All this comes down to one point: work is helpful to health.

Why is work good for health？ It is because work keeps people busy away from loneliness. Researches show that people feel unhappy, worried and lonely when they have nothing to do. Instead, the happiest are those who are busy. (76) Many high achievers who love their careers feel that they are happiest when they are working hard. Work serves as a bridge between man and reality. By work people come into with each other. By collective activity they find friendship and warmth. This is helpful to health. The loss of work means the loss of everything. It affects man spiritually and makes him ill.

Besides, work gives one a sense of fulfillment and a sense of achievement. Work makes one feel his value and status in society. When a writer finishes his writing or a doctor successfully operates on a patient or a teacher sees his students grow, they are happy beyond words.

(77) From the above we can come to the conclusion that the more you work the happier and healthier you will be. Let us work hard and study and live a happy and healthy life.

The underlined word "average" in Paragraph 1 means ______.

A．healthy

B．lazy

C．ordinary

D．poor

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第10题

glove/glʌv/（）

A.手套

B.几乎

C.实质上

D.鼓励

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