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Processors Ltd. uses three different products - X, Y and Z to produce its major product line. Each kg of the raw material costs $2.00 for X, $3.75 for Y and $5.20 for Z. Each final product is budgeted to use 50 kg of X, 20 kg of Y and 30 kg Z. During the last period 150 units of the final product were produced. Actual inputs used were 7,850 kg of X, 4,000 kg of Y and 3,750 of Z. The actual raw materials costs were $2.05 for X, $3.65 for Y and $4.90 for Z.
What is the total materials mix variance for the year? Use four decimal places for all mix percentages.a. $1,380 Ub. $1,436 Uc. $1,380 Fd. $1,436 Fe. $1,986 F
You've been asked by top leadership in your organization to make a PowerPoint presentation on how the business is doing relative to the previous year. This will comprise a comparison of following for this fiscal year and previous fiscal year:
What is the accounting concept to explain how a 3% decline in sales could cause a 21% decline in profits. Also, discuss the effect of declining sales on an organization's margin of safety.
What are some of the potential problems which might be encountered in changing from a budget to a cost estimation movie making system?
Your CFO, in her initial work, needs to decide whether to set up a job order costing system or a process type costing system. She has asked you to make a recommendation based on the following information.
Pick a product you are familiar with or interested in. What product liability issues arise for that product? What measures can management take to prevent these product liability problems from arising? How can they minimize legal risk involving the..
What are the major differences between job-order costing and process costing systems?
Hannon Company has 1,600 pounds of raw materials in its December 31, 2011, ending inventory. Needed production for January and February of 2012 are 4,000 and 5,500 units, respectively.
What drives consumption of costs? What are drivers and how do they help in the allocation process?
Explain the methods that are used to incorporate a portion of the indirect costs into the cost of the product or service.
Why do you think companies make mistake of only paying close attention to the static budget? Is it just not wanting to spend the time and money?
Find a newspaper article or web page report of an item of accounting news, i.e. it refers to a current event, consideration, comment or decision that has been published after November 2013
Prepare a schedule of cost of goods manufactured for the month. Prepare a schedule of cost of goods sold for the month.
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