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After evaluating Zero Company's manufacturing process, management decides to establish standards of 3.7 hours of direct labor per unit of product and $12 per hour for the labor rate. During October, the company uses 18,600 hours of direct labor at a $227,850 total cost to produce 4,500 units of product. In November, the company uses 28,800 hours of direct labor at a $384,768 total cost to produce 6,600 units of product.
Compute the rate variance, the efficiency variance, and the total direct labor cost variance for each of these two months. (Input all amounts as a positive value. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Leave no cells blank - be certain to enter "0" wherever required. Round your intermediate calculations to 2 decimal places and round your final answers to the nearest dollar amount. Omit the "tiny_mce_markerquot; sign in your response.)
Smithson Mining operates a silver mine in Nevada. Acquisition, exploration, and development costs totaled $5.6 million. After the silver is extracted in approximately five years, Smithson is obligated to restore the land to its original condition,..
Treasury Stock Transaction-Nature corporation engaged in the folloiwing treasury transactions during current year. Complete three journal entries to record these treasury stock transactions.
Where on the balance sheet should a 20 year, 12% bond, due 1/1/2013 for $500,000 be listed. Is it a current liability or a long term liability?
Many public universities are quite similar to their private counterparts. Indeed, some large state universities receive less than 25 percent of their resources from the state. How, then, can you account for the substantial differences in their rep..
What is the difference between a value-added and a non-value-added cost? Give an example of each. Participate in follow-up discussions by reviewing your classmates' posts and expanding upon what they have written regarding value-added and non..
MBA 640 Exam 1, Spring 1, 2014 Suppose that Smith follows a strategy of one of its competitors which is to spend $200,000 on advertising so that there is more brand awareness.
The Talley Corporation had a taxable income of $365,000 from operations after all operating costs but before (1) interest charges of $50,000, (2) dividends received of $15,000, (3) dividends paid of $25,000, and (4) income taxes. What are the firm..
Prepaid rent at 1/1/10 was $20,000. During 2010 rent payments of $123,000 were made and charged to "rent expense." The 2010 income statement shows as a general expense the item "rent expense" in the amount of $122,000.
This week, Airbus announced it was building new plant in Alabama. Can you aid me in answering the following questions based on information in conjunction with Foreign Direct Investment.
Thrifty Co. reported net income of $465,000 for its fiscal year ended January 31, 2011. At the beginning of that fiscal year, 200,000 shares of common stock were outstanding.
The drive to incorporate sustainability into every corporation's operations is a growing trend in the global economy. In fact, it can be said that for sustainability to become an integral part of a company's business strategy
Jade Corporation merged into Fluorite Corporation 2 years ago. At the time of the merger, Jade had an E & P deficit of $350,000 and Fluorite had a positive E & P of $300,000. The prior 2 years have resulted in a positive E & P of $100,000.
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