Answer:
$50,000
Explanation:
Based on this information, the cash collected from accounts receivable during the period is $50,000. This can be calculated in the following way. Since the Company started the period with a $14,000 debit balance and ended that period with only $8,000 it means that $6,000 was used. Since it was used, it means that it was deducted from the actual collected total. Therefore to find this total we add these $6,000 to the revenue for that period which was $44,000. This totals up to $50,000.
Problem 6-09A a1-a2, b (Part Level Submission) Oriole Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Date Units Unit Cost Sales Units July 1 4 $140 July 6 3 July 11 7 $150 July 14 6 July 21 8 $161 July 27 5 Collapse question part (a1) Partially correct answer. Your answer is partially correct. Try again. Calculate the average cost per unit at July 1, 6, 11, 14, 21
Answer:
Oriole Co.
Purchases Date Units Unit Cost Sales Units Average cost
July 1 4 $140 $140
July 6 3 $140
July 11 7 $150 $148.75
July 14 6 $148.75
July 21 8 $161 $159.64
July 27 5 $159.64
Explanation:
a) Data:
Purchases Date Units Unit Cost Sales Units
July 1 4 $140
July 6 3
July 11 7 $150
July 14 6
July 21 8 $161
July 27 5
Average cost per unit = Total cost divided by units available for sale. For July 1 and 6, the unit cost equal the average cost.
For July 11 and 14, the total cost = $140 + $1,050(7 * $150) = $1,190 and the average cost = $148.75 ($1,190/8 units).
For July 21 and 27, the total cost = $148.75 + $1,288 (8* $161) = $1,436.75 and the average cost = $159.64 ($1,436.75/9).
Bruno's Lunch Counter is expanding and expects operating cash flows of $24,600 a year for 6 years as a result. This expansion requires $76,000 in new fixed assets. These assets will be worthless at the end of the project. In addition, the project requires $6,000 of net working capital throughout the life of the project. What is the net present value of this expansion project at a required rate of return of 10 percent
Answer:
The net present value of this expansion project at a required rate of return of 10 percent is $11,284.40.
Explanation:
The Summary of Cash flows are as follows :
Year 0
Cash Flows ($76,000 + $6,000) = - $82,000
Year 1
Cash Flow = $24,600
Year 2
Cash Flow = $24,600
Year 3
Cash Flow = $24,600
Year 4
Cash Flow = $24,600
Year 5
Cash Flow = $24,600
Year 6
Cash Flow ($24,600 + $6,000) = $30,600
Note that the net working capital is recouped at the end of the project.
Calculation of net present value of this expansion project
Note : I am using a financial calculator here
- $82,000 CFj
$24,600 CFj
$24,600 CFj
$24,600 CFj
$24,600 CFj
$24,600 CFj
$30,600 CFj
10 % i/yr
Shift NPV = $11,284.40
)In six months, your company plans to issue a 1.5 year zero coupon bond with a face value of $500,000 to finance a small acquisition. If the traditional expectations theory of the term structure is correct, and if the risk of your company's bonds is similar to that of the above bonds, what is the expected price of your company's bond at issue (i.s., in six months hence)
Answer:
$441,495
Explanation:
Since the information is incomplete, I looked for the missing part and found the attached information.
the current yield of a 1.5 years zero coupon bond = (100 / 89.9)¹/¹°⁵ - 1 = 0.0736 = 7.36%
the current yield of a 6 months zero coupon bond = (100 / 97.087)¹/⁰°⁵ - 1 = 0.0609 = 6.09%
now to calculate the future interest rate:
(1.0736²/1.0609) - 1 = 0.0865 = 8.65%
since we are told to determine the price of the bond:
(100/P)¹/¹°⁵ - 1 = 0.0865
(100/P)¹/¹°⁵ = 1.0865
100/P = 1.0865¹°⁵
100/P = 1.1325
100/1.1325 = P
P = 88.299
the expected price of the bond = 88.299% x $500,000 = $441,495
Many businesses today offer loyalty programs to customers, because gaining customers for life is a goal that enables firms to be more profitable. The Marriott hotel chain loyalty programs are popular since customers can accumulate points that can be redeemed for upgrades or free room stays. Marriott also encourages members to complete their profiles by indicating the size of bed they prefer (double or king), type of pillow (foam or feather), handicap accessible needs, or other preferences. The profile information enables each hotel to utilize this information and provide the right type of room amenities for each guest. The loyalty program is an example of _______.
Answer: c. customer relationship management
Explanation:
Customer relationship management refers to efforts taken by the firm to improve the way the company treats or relates with its customers.
As the goal of all businesses should be to retain customers for life, managing Customer relationships in such a way that they feel well taken care of enough to be loyal is a key way of doing this.
This is what Marriott is doing. By taking care to understand and to appreciate their customers, they are taking care of them such that they will want to keep coming back for life.
A representative is making a presentation to a married couple, ages 75 and 77, about their need for continuing income as the expected life spans of the general population have increased. The representative is strongly recommending that the couple buy an equity indexed annuity (EIA). Which statement made by the representative would NOT be misleading and fraudulent
Answer:
"EIAs provide a minimum guaranteed rate of return that is guaranteed by the issuing insurance company"
Explanation:
Equity indexed annuities refer to an insurance product in which the product declines and lies between the fixed and variable annuity. Also it provides a return that linked such as the Standard and poor 500 index also if the cap is 10% but it grows by 15% so the customer would get a 10% return.
Therefore the above in the answer and the same is to be considered
And, the rest of the given options shows the misleading and fraudlent.
number 53 934 is divisible by which of the following number brain
Answer:
The number 53,934 is divisible by the following numbers:
-1 --- 53.934 / 1 = 53.934
-2 --- 53,934 / 2 = 26,967
-3 --- 53.934 / 3 = 17.978
-6 --- 53.934 / 6 = 8.989
-89 --- 53,934 / 89 = 606
-101 --- 53,934 / 101 = 534
-178 --- 53,934 / 178 = 303
-202 --- 53,934 / 202 = 267
-267 --- 53,934 / 267 = 202
-303 --- 53.934 / 303 = 178
-534 --- 53,934 / 534 = 101
-606 --- 53.934 / 606 = 89
-8989 --- 53.934 / 8.989 = 6
-17978 --- 53.934 / 17.978 = 3
-26967 --- 53.934 / 26.967 = 2
-53934 ---- 53.934 / 53.934 = 1
A company uses a process costing system. Its Assembly Department's beginning inventory consisted of 51,600 units, 75% complete with respect to direct labor and overhead. The department completed and transferred out 123,500 units this period. The ending inventory consists of 41,600 units that are 25% complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. The department incurred direct labor costs of $28,000 and overhead costs of $36,000 for the period. Assuming the weighted average method, the direct labor cost per equivalent unit (rounded to the nearest cent) is:
Answer:
$0.28
Explanation:
The computation of direct labor cost per equivalent unit is shown below:-
Equivalent production for a period = Units that are completed during the period + Equivalent units in process at the end of period
= $123,500 + (41,600 × 25%)
= $123,500 + 10,400
= $133,900
Total costs = Beginning cost + Current cost
= $9,300 + $28,000
= $37,300
Cost per equivalent unit = Total costs ÷ Total equivalent units completed
= $37,300 ÷ $133,900
= $0.28
Documentation for support is considered a deliverable at which stage of the project management process?
Answer: closing stage
Explanation:
Documentation for support is considered a deliverable at the closing stage of the project management process.
The closing stage of a project is simply the stage whereby there is an official handoff of the deliverable, regarding the project and there will be a transition to both the operational and also the maintenance phases of the project. At this point, documentation will be handed to those at the operations department.
Range Co. provided the following information on selected transactions: Purchase of building from XYZ Company; obtained mortgage from BRB Bank $200 Proceeds from issuing bonds $500 Purchases of EAB Company Stock $300 Purchase of Investment in Bonds $675 Dividends paid to preferred stockholders $250 Proceeds from issuing preferred stock $225 Proceeds from sale of equipment $150 The net cash provided (used) by investing activities is:
Answer:
Net cash provided (used) by investing activities is ($1,025)
Explanation:
Cash Flow
Proceeds from sale of equipment $150
Less: Purchases of EAB Company Stock $300
Purchase of Investment in Bonds $675
Purchase of building from XYZ Company $200 $1,175
Net Cash used by investing activities -$1,025
In 2021, Cromwell Corporation purchased bonds of Oliver Company at par for $300,000 and classified the investment as available-for-sale. In 2022, the market value declined to $200,000. In 2023, the market value of the investment rose to $230,000, and the investment was sold. How much should Cromwell record as a realized gain or loss in its determination of net income for 2023?
Answer:
$70,000 loss
Explanation:
Cromwell corporation bought bonds of Oliver company at par at $300,000 in the year 2021
In 2022, the market value reduced to $200,000
In the year 2023, The market value rose to $230,000
Therefore the amount that should be recorded be Cromwell corporation as its realized loss or gain in the determination of net income for 2023 can be calculated as follows
= $230,000 - $300,000
= -$70,000
= $70,000 loss
Hence the amount that should be recorded by Cromwell corporation is $70,000 loss
Which of the following is an example of a realistic job preview (RJP)? Check all that apply. a) When Mary has her first interview for a job as a police officer, she is shown a video that tells her how rewarding policework can be, but it also outlines how difficult it can be to work night shirts b) When he is recruited to be a tax accountant at Deloitte, Hans is told that it is a great job and company with a lot of career opportunities but also warned that during March and April it is common to have to work some evenings and weekends to get all of the tax filing work done. c) When she is recruited to be a trash truck driver for Waste Management, Trisha is told only potential negative things about the job, including the smell, early hours, and frequent traffic. d) When she is interviewed for a sales associate role at Verizon, Tina is told only positive things about the company.
The correct answers are A and B
Explanation:
Realistic Job Previews or RJPs provide objective information about a job including its challenges or negative aspects, as well as its advantages or positive aspects. This is essential to allow candidates to have a realistic perspective about a job before applying to it. In this context, only option A and B are Realistic Job Previews because these two options explain the positives and negatives of a job (police officer and tax accountant), while other options only focus on the negative or the positive, which is biased
Pharoah Company has a tax rate of 40 percent and income before non-operating items of $1390000. It also has the following items (gross amounts). Unusual loss $222500 Discontinued operations loss 604500 Gain on disposal of equipment 50000 Change in accounting principle increasing prior year's income 317500 What is the amount of income tax expense Pharoah would report on its income statement
Answer: $245,200
Explanation:
Taxable Income = Income before non-operating items + Unusual Gain + Gain Disposal of equipment - Discontinued operation loss
= 1,390,000 + (-222,500) + 50,000 - 604,500
= $613,000
= Income tax expense = 613,000 * 40%
= $245,200
Suppose you owned a portfolio consisting of $250,000 of long-term U.S. government bonds. Would your portfolio be riskless? Explain. Now suppose the portfolio consists of $250,000 of 30-day Treasury bills. Every 30 days your bills mature, and you will reinvest the principal ($250,000) in a new batch of bills. You plan to live on the investment income from your portfolio, and you want to maintain a constant standard of living. Is the T-bill portfolio truly riskless? Explain. What is the least risky security you can think of? Explain.
Answer and Explanation:
An investment when it would be risk free in that case both the principal and the interest amount are to be paid within the prescribed time. Also when the U.S government bonds i.e. long term would be issued by the government have a lesser interest rate as compared with the other riskier securities available at the market place this is because as the government would default next to zero in case of the short term it would make the default when there are extreme situations arise.
Therefore in the short term it would be risk free
But in the long run, the person is based on the treasury bills returns so that he or she could equate the similar standard of living also it would not suffice when the inflation rises
Therefore the less risky investment would be of Government bonds
What are the major chemical components of the cell membrane?
Answer:
The answer is below
Explanation:
The cell membrane is a biological term that describes a form of cell protection, which lies in the middle of the cell interiors and their outer surface. It is sometimes defined as Plasma Membrane.
Hence, in this case, the correct answer is that the major chemical components of the cell membrane are the following
1. cholesterol
2. glycolipids
3. phospholipids
4. proteins
Which of the following is a reason to obtain professional certification?a. Certification provides credibility that an individual is technically competentb. Certification often is a necessary condition for advancement and promotion within a professional services firm.c. Obtaining certification is often monetarily rewarded by an individual's employer.d. All of the above.
Answer: All of the above
Explanation:
Professional certification are the certificates that are earned by individuals which are required to do some certain jobs.
Certification provides credibility that an individual is technically competentb and is a vital condition for promotion and advancement and promotion and one's workplace. Obtaining certification is also often monetarily rewarded by an individual's employer.
Therefore, the correct answer is" all of the above".
Which Decision Support System is a "calendar-driven process and offers the basis for informed affordability assessment?"
Answer: Planning, Programming, Budgeting and Execution system (PPBE).
Explanation:
The decision support system that is a "calendar-driven process and offers the basis for informed affordability assessment is the Planning, Programming, Budgeting and Execution system (PPBE).
The Planning, Programming, Budgeting, and Execution (PPBE) is simply used in the allocation of resources.
Company has the following balances for the current month: Direct materials used $ 23,000 Direct labor $ 19,800 Sales salaries $ 8,750 Indirect labor $ 1,500 Production manager's salary $ 6,210 Marketing costs $ 9,560 Factory lease $ 4,475 What is Robin's total manufacturing cost
Answer:
cost of goods manufactured= $54,985
Explanation:
Giving the following information:
Direct materials used $ 23,000
Direct labor $ 19,800
Indirect labor $ 1,500
Production manager's salary $ 6,210
Factory lease $ 4,475
To calculate the cost of goods manufactured, we need to use the following formula:
cost of goods manufactured= direct materials + direct labor + allocated manufacturing overhead
cost of goods manufactured= 23,000 + 19,800 + (1,500 + 6,210 + 4,475)
cost of goods manufactured= $54,985
All of the following are examples of natural monopolies except:________.a. Local telephone companies.b. Electricity companies.c. College bookstores.d. Railroad companies.
Answer:
c
Explanation:
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms.
A natural monopoly occurs due to the high start-up costs or a large economies of scale.
Natural monopolies are usually the only company providing a service in a particular region
College bookstores are not monopolies. they do not have high barriers of entry into the industry. start up cost isn't extremely high.
Suppose that the price of basketball tickets at your college is determined by market forces. Currently, the demand and supply schedules are as follows:Price Quantity Demanded (Qd) Quantity Supplied (Qs)$4 10,000 tickets 8,000 tickets$8 8,000 8,000$12 6,000 8,000$16 4,000 8,000$20 2,000 8,000Required:a. Draw the demand and supply curves. What is unusual about this supply curve? Why might this be true?b. What are the equilibrium price and quantity of tickets?c. The college plans to increase total enrollment next year by 5,000 students.
Answer:
a) see attached graph. There is nothing unusual with the supply curve, it is simply fixed. This happens to most services, e.g. there is a fixed number of hotel rooms available for rent, in the short run you cannot add more rooms per night if the demand increases. In order to increase the quantity supplied, you would need to build a larger hotel, or in this case, a larger stadium.
b) the equilibrium price is $8 and the equilibrium quantity is 8,000 tickets
c) if the college plans to increase enrollment, the demand might increase, leading to a higher equilibrium price, but the supply will remain the same until the stadium is expanded.
Explanation:
Price Quantity Demanded (Qd) Quantity Supplied (Qs)
$4 10,000 8,000
$8 8,000 8,000
$12 6,000 8,000
$16 4,000 8,000
$20 2,000 8,000
The equilibrium price is $8 and the equilibrium quantity is 8,000 tickets
There is nothing unusual with the supply curve. In this case, the supply curve shows the relationship between the goods that are supplied at their prices.
The demand and supply schedule is given below:
Price Quantity Demanded (Qd) Quantity Supplied (Qs)
$4 10,000 8,000
$8 8,000 8,000
$12 6,000 8,000
$16 4,000 8,000
$20 2,000 8,000
Therefore, the equilibrium price is $8 and the equilibrium quantity is 8,000 tickets
When the college plans to increase enrollment, there will be an increase in the demand, this will shift the demand to the right and lead to a higher equilibrium price. On the other hand, the supply will remain the same until there is an expansion of the stadium.
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Things that are required in order to live are wants. a. True b. False
Answer:
false. Because you NEED them you dont want them.
2. Gross domestic product that has been adjusted for inflation is known as
Answer:
GDP
Explanation:
The gross domestic product that has been adjusted for inflation is known as Real gross domestic product.
What is inflation?Inflation refers to the rise in the general price of goods and services for common or daily use.
Real gross domestic product refers to an inflation-adjusted measure that reflects the value of all goods and services produced in a year.
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You own a house that you rent for $1,125 per month. The maintenance expenses on the house average $205 per month. The house cost $220,000 when you purchased it 4 years ago. A recent appraisal on the house valued it at $242,000. If you sell the house you will incur $19,360 in real estate fees. The annual property taxes are $2,550. You are deciding whether to sell the house or convert it for your own use as a professional office. What value should you place on this house when analyzing the option of using it as a professional office
Answer:
$222,640
Explanation:
The computation of the value of the house by considering the professional office is shown below:
= Recent appraisal on the house - real estate fees
= $242,000 - $19,360
= $222,640
We simply deduct the real estate fees amount from the recent appraisal amount so that the value of the house could come and the same is to be considered
The value i would place on the house when analyzing the option of using it as a professional office is $222,640
The computation of the value of the house by considering the professional office is to deduct the real estate fees amount from the recent appraisal amount so that the value of the house would be the difference.
= Recent appraisal on the house - real estate fees
= $242,000 - $19,360
= $222,640
Hence, the value i would place on the house when analyzing the option of using it as a professional office is $222,640
Cattle House Steaks, a Colorado company, enters into a contract over the phone with Beef Packing Inc., an out-of-state corporation. If a dispute arises, a Colorado court can exercise jurisdiction over Beef Packing a. only if Beef Packing files the suit. b. on the basis of a federal question. c. in no circumstances. d. under the minimum-contacts test.
Answer: d. under the minimum-contacts test.
Explanation:
Cattle House Steaks, a Colorado company, enters into a contract over the phone with Beef Packing Inc., an out-of-state corporation. If a dispute arises, a Colorado court can exercise jurisdiction over Beef Packing under the minimum-contacts test.
Minimum contacts applies to situations whereby a court in one state can assert its personal jurisdiction over another defendant which isn't in that same state but is in another state.
You believe you will spend $47,000 a year for 13 years once you retire in 26 years. If the interest rate is 7% per year, how much must you save each year until retirement to meet your retirement goal? (Do not round intermediate calculations. Round your answer to 2 decimal places.) g
Answer:
Annual deposit= $8,896.79
Explanation:
Giving the following information:
You believe you will spend $47,000 a year for 13 years once you retire in 26 years.
The interest rate is 7% per year.
First, we need to calculate the total amount required:
FV= 47,000*13= $611,000
Now, using the following formula, we can determine the annual deposit:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (611,000*0.07) / [(1.07^26) - 1]
A= $8,896.79
Identify the following as cash inflows or outflows to a privately-owned water company: well drilling, maintenance, water sales, accounting, government grants, issuance of bonds, energy cost, pension plan contributions, heavy equipment purchases, used equipment sales, stormwater fees, and discharge permit revenues.
Answer:
Cash Inflow would be cash coming into the company and Cash Outflow would be going out.
Cash InflowWater Sales Government Grants - money given to the company by the Government to help in its operationIssuance of bonds - Cash inflow from debt issuanceUsed Equipment sales - cash from sale of used equipmentStormwater fees - paid by customers to take stormwater from propertyDischarge Permit revenueCash OutflowWell drilling - drilling well requires cash expenditureMaintenance - cash expenseAccounting - Administrative expenditureEnergy Cost Pension Plan Contributions - contributing to its employees' pension plans is an expenseHeavy Equipment Purchases - Capital expendituren July 1, 2020, the beginning of its fiscal year, Ridgedale County recorded gross property tax levies of $4,200,000. The county estimated that 2 percent of the taxes levied would be uncollectible. As of April 30, 2021, the due date for all property taxes, the county had collected $3,900,000 in taxes. During the current fiscal year, the county collected $53,000 in delinquent taxes and $4,800 in interest and penalties on the delinquent taxes. The county imposed penalties and interest in the amount of $14,500 but only expects to collect $12,800 of that amount. At the end of the fiscal year (June 30, 2021), uncollected taxes, interest, and penalties are reclassified. They are not expected to be collected within the first 60 days for the following fiscal year. Required Record entries for the above transactions as stated in the individual statements below, and post corresponding information into the Revenues ledger as appropriate. Prepare journal entries to record the tax levy on July 1, 2020, in the General Fund. (Ignore all entries in the governmental activities journal.) Prepare a summary journal entry to record the collection of current taxes as of April 30. Prepare a summary journal entry to record the collection of delinquent taxes, interest, and penalties. (You may assume that these amounts had been designated Deferred Inflows of Resources.)
Answer:
Prepare journal entries to record the tax levy on July 1, 2020, in the General Fund. (Ignore all entries in the governmental activities journal.)
Dr Taxes receivable - current 4,200,000
Cr Allowance for uncollectible current taxes 84,000
Cr Revenues 4,116,000
Prepare a summary journal entry to record the collection of current taxes as of April 30.
Dr Cash 3,900,000
Cr Taxes receivable - current 3,900,000
Prepare a summary journal entry to record the collection of delinquent taxes, interest, and penalties.
Dr Cash 57,800
Cr Taxes receivable - delinquent 53,000
Cr Interest and penalties receivable 4,800
Dr Deferred inflows of resources 57,800
Cr Revenue 57,800
Tina works outdoors nearly all the time. She and her team clean up roads and fix holes in them. Her job is best
described as
Alma works in an office building, where she operates engines and makes sure all the systems for heat, power, and
other utilities are working properly. Her job is best described as
Every day, Sean drives to the homes of a few different customers, where he fixes washing machines and dryers. His
job is best described as
Answer:
Tina: Highway Maintenance Worker
Alma: Stationary Engineer
Sean: Home Appliance Repairer
Have a good day :)
Tina works outdoors nearly all the time. She and her team clean up roads and fix holes in them. Her job is best described as
✔ Highway Maintenance Worker
Alma works in an office building, where she operates engines and makes sure all the systems for heat, power, and other utilities are working properly. Her job is best described as
✔ Stationary Engineer
Every day, Sean drives to the homes of a few different customers, where he fixes washing machines and dryers. His job is best described as
✔ Home Appliance Repairer
Explanation:A description of how the business will generate revenue is always included in a:
A. Stock dividend agreement
B. Stock certificate
C. Business loan agreement
D. Business plan
Answer: business plan
Explanation:
Stock dividend, is a method used to distribute wealth to its shareholders by a company.
A stock certificate is a legal document which implies that the owner has some number of stocks or shares in a corporation.
Business loan agreement is simply an understanding that takes place between a business and a lender which contains the promises made by both parties regarding giving the money by the lender and the repayment plan by the borrower.
A business plan is a document that simply describes a business and, its products or services, its financing, leadership and staffing, its operations model, etc.
Joe sells the house he has lived in for 10 years to the Smith family for $300,000. He receives $50,000 more than his original purchase price 10 years ago. Joe pays his real estate agent a 5 percent sales commission. This transaction will increase gross domestic product (GDP) by
Answer:
$15,000
Explanation:
Joe has sold the house he has been living in for 10 years to the Smiths family
He sold the house at $300,000
Joe receives $50,000 more than the original price bargained 10 years ago
He pays the real estate agent a commission of 5%
= 5/100
= 0.05
Therefore the increase in gross domestic product can be calculated as follows
= $300,000×0.05
= $15,000
Hence, the transaction will increase the gross domestic product by $15,000
Bulluck Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or Rate Direct materials 3.5grams$1.00per gram Direct labor 0.7hours$11.00per hour Variable overhead 0.7hours$2.00per hour The company reported the following results concerning this product in July. Actual output 3,000units Raw materials used in production 11,370grams Actual direct labor-hours 1,910hours Purchases of raw materials 12,100grams Actual price of raw materials purchased$1.20per gram Actual direct labor rate$11.40per hour Actual variable overhead rate$2.10per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The labor efficiency variance for July is:
Answer:
$2,090 Favourable
Explanation:
According to the given situation, the computation of labor efficiency variance for July is shown below:-
Labor efficiency variance = Standard rate × (Standard hours - Actual hours)
= $11 × ((0.7 × 3,000) - 1,910)
= $11 × 190
= $2,090 Favourable
Therefore for computing the labor efficiency variance for July we simply applied the above formula.
