Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Refer to Exercise 23-8. Hart Company records standard costs in its accounts and its material variances in separate accounts when it assigns materials costs to the Goods in Process Inventory account. In Exercise 23-8, Hart Company made 3,000 bookshelves using 22,000 board feet of wood costing $ 266,200. The company's direct materials standards for one bookshelf are 8 board feet of wood at $ 12 per board foot.
(1) Show the journal entry that both charges the direct materials costs to the Goods in Process Inventory account and records the materials variances in their proper accounts.
(2) Assume that Hart's material variances are the only variances accumulated in the accounting period and that they are immaterial. Prepare the adjusting journal entry to close the variance accounts at period end.
(3) Identify the variance that should be investigated according to the management by exception concept. Explain.
Suppose Company B sold 10 percent more units during the year than it did according to table. Determine Company B's operating profit for this scenario.
Find out the current operatng profit for the company as whole? Supposing that all fixed cost are unavoidable, if company eliminated the unprofitable segments, what would be the new operating profit for the company as a whole be?
Prepare the for April Sales budget, production budget in units and direct material usage budget and direct material purchases budget
requiredstudy the information given below and determine which of the two investment opportunities it should choose.
write a page single-spaced essay on the following topic the biggest challenges that the accounting profession will face
Describe the costs and processes involved in making your firm's product or providing their service, and state what type of costing system might be used (job order, process or hybrid costing)
What are the components of a budget? Are they same for every organization? Why or why not? Should every organization forecast its operating budget? Why or why not?
Barker Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company''s first processing department for a recent month. Work in process, beginning: Units in process 1000 Stage of compl..
Edison Inc. has annual sales of $49,000,000, or $44,100,000 a day on a 365-day basis. The firm's cost of goods sold are 75% of sales. On average, the company has $9,000,000 in inventory and $8,000,000 in accounts receivable.
How does FASB and IFRS standards differ from on another? If the US adopted the IFRS standards what are the advantages and disadvantages?
Pick a costing method: process, job, or activity based. Explain the nature of your chosen method. What types of organizations should choose that method?
Describe the issues surrounding the effective measurement of a firm's cost behaviour). Describe the importance and limitations of financial ratio analysis
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd