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The standard cost sheet calls for 80 pounds of zinc per batch of 70 faucets. Zinc has a standard price of $5.10 per pound. One thousand pounds of zinc are purchased for $5,530. Ten batches of the faucets are produced, and 840 pounds of zinc are used. There was no beginning zinc inventory. All variances are calculated as soon as possible.
Required: Prepare a table that decomposes the total purchase price of the zinc ($5,530) into its various components as calculated by the standard cost system.
During May, the number of equivalent full units of materials applied to units produced by Department Q totaled 50,000, computed as follows: beginning inventory, 7,000 equivalent full units; units started and completed in May, 35,000 equivalent ful..
Alder Company budgets an annual basis. The following beginning and ending inventory levels (in units) are planned for the next year. Two units of raw material are required to produce each of finished products.
ABC Company pays for purchases 40% in the month of purchase, and the balance in the following month. Recent purchases have been:
Phonetronix is the small manufacturer of telephone and communications devices. Recently, company management decided to investigate the profitability of cellular phone production. They've three different proposals to evaluate.
Explain verbally and graphically how the socially efficient amount of this good can be provided for them. Explain each term used in your answer.
Illustrate out the term cash conversion cycle (CCC), and describe why, holding other things constant, a firm's profitability would raise if it lowered its CCC.
The law firm of Tilton and Henderson accumulates costs associated with individual cases, using a job order cost system. The following transactions occurred during June:
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?
Management accounting formats are identical for all companies
JungleGym, a best-selling toy has a selling price of $15. If the contribution margin ratio is 40% and if the fixed costs are $60,000, how many JungleGyms must the company sell to realize a profit of $450,000?
Assume a fixed cost for an investment in a piece of equipment of $15,000, a variable cost to produce each unit of product with the equipment at $10, and a selling price for the finished product of $25.
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.
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