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The Elm Institute makes portable tents for hikers. Their tents have a standard materials usage of 4 yards of cloth per tent at $7.00 per yard. During the month, 2,400 yards of cloth were purchased at $7.30 per yard. Production for the month produced 550 tents and used 2,100 yards of cloth. Please compute the materials price variance.
A. $630 unfavorable
B. $14,700 favorable
C. $17,520 unfavorable
D. $720 unfavorable
orm Fish makes cheap fishing rods and operates in a competitive market. The company has a fixed cost of $20,000 per period. In addition the firm incurs production or variable costs depending on its output as follows:
Record the following transactions of a company in a general journal form: Reacquired 8,000 of its own $10 par value common stock at $40 cash per share. The stock was originally issued at $15 per share.
Assuming Karen is single, what are the amount and character of the loss recognized on the sale of the Central Corporation stock?
Desiree Griseta Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2004 in which no benefits were paid. Determine the amounts of the components of pension expense t..
Recording Transactions Affecting the Enterprise Fund and Business-Type Activities, Prepare general journal entries to record the December 31, 2013, accounts and balances for the Water Utility Fund, selecting the corresponding accounts from drop-down..
During 2006, Edgemont Corporation had revenues of $230,000 and expenses-Compute the retained earnings on December 31, 2005, and 2006.
Explain the differences between manual and system controls. Which type of control is preferable and why? Give an example of each of these controls that you encounter in your daily life.
Emma and Laine form the equal EL Partnership. Emma contributes cash of $100,000. Laine contributes property with an adjusted basis of $40,000 and a fair market value of $100,000.
Analyze the successes and problems of multinational enterprises (MNEs) in exploiting opportunities in emerging markets.
Assuming that the company uses the percentage of receivables allowance method, prepare the adjusting entry on December 31, 2001, to recognize bad debts expense.
In a manufacturing company the proper journal entry (without numbers) to record the purchase of direct materials would be:
Prepare journal entries to record the accounting for both the normal and abnormal rework. What were the total rework costs of XD1 chips in August 2011?
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