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The following standard costs were developed for one of the products of Ferrars Company:Standard Cost CardPer UnitMaterials: 4 feet x $14.25 per foot $ 57.00Direct labor: 8 hours x $10 per hour 80.00Variable overhead: 8 direct labor hours x $8 per hour 64.00Fixed overhead: 8 direct labor hours x $12 per hour 96.00Total standard cost per unit $297.00The following information is available regarding the company's operations for the period:Units produced: 11,000Materials purchased: 52,000 feet @ $13.95 per footMaterials used: 40,000 feetDirect labor: 84,000 hours costing $840,000Manufacturing overhead incurred:Variable $756,000Fixed $1,000,000Budgeted fixed manufacturing overhead for the period is $960,000, and the standard fixed overhead rate is based on expected capacity of 80,000 direct labor hours.Required:a. Calculate the materials price variance.b. Calculate the materials usage variance.c. Calculate the direct labor rate variance.d. Calculate the direct labor efficiency variance.e. Calculate the variable manufacturing overhead spending variance.f. Calculate the variable manufacturing overhead efficiency variance.g. Calculate the fixed manufacturing overhead spending variance.h. Calculate the fixed manufacturing overhead volume variance.i. Prepare all necessary journal entries.
Effects of differential cost analysis in decision making
Win Corporation sells a single product. Budgeted sales for the year are anticipated to be 609,725 units, estimated beginning inventory is 107,791 units, and desired ending inventor
Limitations of Budgeting 1. Too mush reliance may reason resistance or inflexibility to change. 2. Difficult to set levels of attainment. It may result into too tight budg
Q. What are the advantages and disadvantages of free float? Advantages: It is one of the most suitable ER regimes for transitional countries that experience external shocks l
Q. Explain Break-even analysis? Cost-volume-profit (CVP) analysistracks that how profit changes when there are changes insales price, variable costs, fixed c
are exploration costs of a mining company an asset or an expense
I would like to know the solution on this one.
Bottoms Up company produces high quality sports equipment. the companie''s racket division manufactures three tennis rackets- the Standard, Deluxe and the Pro that are widely used
The following information pertains to Tudor Logistics Company: 200X Information: Sales $4,875,000 Selling expense
Understanding the existing capital requirements and how these are financed will assist us in understanding the process of financing of business and the flow of funds inside the bus
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