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Spine Line is a manufacturer of high-quality products designed to help support healthy spines. Their newest product offering is a massage chart. Below is the standard cost structure for the chair:Standard Cost Sheet: Massage ChairMetal tubing6 meters @ $3$18.00Leather2 square meters @ $7$14.00Padding3 kilograms @$4$12.00Direct labor4 hours @ $15$60.00Total standard cost$104.00This month, Spine Line manufactured 500 massage chairs. The following costs were incurred:Actual Costs Incurred for the Month: Massage ChairMetal tubing3,100 meters$9,455Leather1,100 square meters$7,722Padding1,600 kilograms$6,560Direct Labor1,800 hours$27,270Total cost$51,007Adapted from: Zimmerman, J. L. (2014). Accounting for decision making and control (8th ed.). New York: NY: McGraw-Hill, "Healing Touch", p. 565.Suppose you are the senior controller for Spine Line and you plan to perform a variance analysis of the massage chairs manufactured to determine if the standards are being met. Once you have completed the analysis, you plan to show it to the production department manager and ask for an explanation of any variances that you believe should be examined. The Assignment:?Part 1: Calculate all materials and labor variances in a spreadsheet by using a program like Excel. Be sure to include price, quantity, wage rate, and labor efficiency variances.?Summarize and analyze the actual costs in relation to the standard costs incurred for the month.?Ask for clarification of any variances that need to be investigated.
Assuming the present value of an annuity due of 1 for 6 years at 10 percent is 4.7908 and the present value of an annuity due of 1 for 6 years at 12 percent is 4.6048, what is the lease liability that Stockton should report on the balance sheet at..
Under the terms of the trust instrument, the trustee has discretion to distribute or accumulate income on behalf of Willie, Sylvia, and Doris in equal shares. The trustee also can invade corpus for the benefit of any of the beneficiaries to the ex..
discuss how the current U.S. economy has affected the write-off of and the impact on factoring accounts receivable. Cite the Websites used to support your answer.
UUse the present value factors from near the end of your text to perform any necessary present value calculations. What is the entry to record this lease on Hall's books?
The company's management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are $115,000. What will be the amount of allowance for uncollectible accounts reported on the balance sheet?
What is a stock repurchase? Describe the procedures a company follows when it make a distribution through a stock purchase.
Write down a 3-5 pg paper comparing and contrasting Federal and state tax research. Examine the different constitutionality challenges with regard to Federal and state taxes.
During February 2008, its first month of operations, the Rutwing Enterprises issued stock in exchange for cash of $25,000. Rutwing had cash revenues of $4,000 and paid expenses of $7,000. Assuming no other transactions impacted the cash account, w..
Describe accounts receivable and how they occur and are recorded
Compute the equivalent units of production for materials and conversion costs for the month of September: Compute the unit costs for materials and conversion costs for the month. Determine the costs to be assigned to the units transferred out and in ..
Linda is a qualifying widow in 2010. In 2010, she reported $75,000 of taxable income (all ordinary). What is her gross tax liability using the tax rate schedules?
The following questions concern independence and the Code of Professional Conduct or GAAS. Choose the best response.
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