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High Sounds manufactures wind chimes that have a standard material cost of 2 pounds of raw materials at $1.50 per pound. During March, 10,000 pounds of raw materials costing $1.55 per pound were used in making 4,800 wind chimes. What is the (1) materials price and (2) quantity variance?
Determine the value-added, nonvalue-added, total lead times and the value added ratio under the present and proposed production approaches. Round whole percentages to two decimal places.
Kasten, Inc. budgeted 10,000 widgets for production during 2010. Kasten has capacity to produce 12,000 units. Fixed factory overhead is allocated to production. The following estimated costs were provided:
Why is the audit of cash an important part of the audit? why is the cash account important to the decisions of investors and creditors?
Harris moves and Hoyt refunds $1,050 of the deposit and keeps the remainder to cover $750 which is spent for repairs to the office space and one week of unpaid rent that amounts to $600. How would this information be reflected on Hoyt's tax ret..
On its 1999 balance sheet, Sherman Books showed a balance of retained earnings equal to $510 million. On its 2000 balance sheet, the balance of retained earnings was also equal to $510 million. Which of the following statements is most correct? Sh..
What is the difference between the auditor's approach in verifying sales returns and allowances and sales? Why is there a difference?
In the section on the yield to call, a bond pays annual interest of $80 and matures after ten years. The bond is valued at $1,147 if the comparable rate is 6 percent and the bond is held to maturity.
What are the tax consequences to Justin for these expenditures when the restaurant opens in July? For Rachel?
Could a company lose to a competitor if they do not have real time online perpetual inventory records to provide answers to customers that are trying to place an order?
On December 31, the adjusted trial balance of Garg Employment Agency shows the following selected data. Prepare the closing entries for the temporary accounts at December 31.
John Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Jack has recently come into an inheritance of $400,000.
What's the difference between business failure and audit risk? Why should auditors be concerned about business failure?
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