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Chen Enterprises purchased 67,000 pounds (cost = $616,400) of direct material to be used in the manufacture of the company''s only product. According the production specifications, each completed unit requires four pounds of direct material at a standard cost of $9 per pound.
Direct materials consumed by the end of the period totaled 65,500 pounds in the manufacture of 16,050 finished units. An examination of Chen''s payroll records revealed that the company worked 42,000 labor hours (cost = $621,600) during the period, and specifications called for each completed unit requiring 2.6 hours of labor at a standard cost of $15 per hour.
Assume that the company computes variances at the earliest point in time.
Required: Calculate the direct-material price and quantity variances, and the direct-labo r rate and efficiency variances. Indicate whether each variance is favorable or unfavorable.
Assuming Kuchman uses the par value method of accounting for its treasury stock, retained earnings at Dec 31. Year 2 would be reduced by ?
The below is a list of activities to be included in the preparation of UMUC's 2013 statement of cash flows. Prepare, IN GOOD FORM, the statement of cash flow under the indirect method.
Net income = 400 , net opening profit after taxes (NOPAT) = 600 , total asset = 2000 and total net operating capital =1800 . the information for the current year is : net income = 900 , net operating profit after taxes (NOPAT)= 800, total assets =..
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a company is considering purchasing factory equipment that costs 480000 and is estimated to have no salvage value at
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