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Question: Expected production (units) 13,000
Standard DML hours per unit 5Standard DML rate per hour $24Standard pounds of DM usage per unit 4Standard DM price per pound $12ActualUnits produced 12,000DML hours worked 62,000Total cost of DML $1,240,000Pounds of DM purchased 54,000Total cost of DM purchased $702,000Pounds of DM used 47,000a) Calculate the following variances:Direct manufacturing labor rate varianceDirect manufacturing labor usage varianceDirect materials price variance (how we did it in the chat session)Direct materials usage varianceb) Explain what each of the calculated variances imply about the firm’s operations. Be specific!Direct manufacturing labor rate varianceDirect manufacturing labor usage varianceDirect materials price varianceDirect materials usage variance
Bowman Company reported translation adjustments in its stockholders' equity section of $2,000,000. Such adjustments were added to the other items disclosed in Bowman's stockholders' equity.
Prepare an income statement for the year 2007 starting with income from continuing operations before taxes. Compute earnings per share as it should be shown on the face of the income statement. Common shares outstanding for the year are 80,000 sha..
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Mahtomedi Corporation is considering investing in specialized equipment costing $240,000. The equipment has a useful life of five years and a residual value of $20,000. Depreciation is calculated using the straight line method. The expected net ca..
Both Mr. Jones and Mrs. Green earned $50,000 gross in 2009. Yet, Mr. Jones owed IRS $600 on his tax return while the IRS owed Mrs. Green $600 on her tax return.
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Calculate the marginal tax rate and the effective tax rate for each of the C corporations. Explain why the marginal tax rate for a C corporation can exceed 35%, but the effective tax rate cannot.
The selling and administrative expense budget of Fenley Corporation is based on the number of units sold, which are budgeted to be 2,500 units in January. Prepare the selling and administrative expense budget for January.
Calculate cost of goods sold and ending inventory amounts under the cost-flow assumptions, FIFO, LIFO and Weighted average (using a periodic inventory system): (Round your unit cost to 2 decimal places.)
MBA 640 Exam 1, Spring 1, 2014, Determine the net income for the month of December and for the month of June.
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