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Lukehart Industries, Inc., produces air purifiers. Lukehart, Inc., produces the air purifiers in batches. To manufacture a batch of the purifiers, Lukehart, Inc., must set up the machines and assembly line tooling. Setup costs are batch-level costs because they are associated with batches rather than individual units of products. A separate Setup Department is responsible for setting up machines and tooling for different models of the air purifiers. Setup overhead costs consist of some costs that are variable and some costs that are fixed with respect to the number of setup-hours. The following information pertains to June 2011:Info: Budget Amounts: Actual Amounts:units produced and sold 10,000 9,000batch size 400 375setup hours per batch 6 5.5var. overhead cost per setup hour 50 52total fixed setup overhead costs 18,500 17,750Calculate the efficiency variance for variable setup overhead costs.Calculate the spending variance for variable setup overhead costs.Calculate the flexible-budget variance for variable setup overhead costs.Calculate the spending variance for fixed setup overhead costs.Calculate the production-volume variance.
Assume that chapman company acquired abernethy's common stock for $490000 in cash. as of January 1, 2009, abernethy's land had a fair value of $90000, its buildings were valued at $160000 and its equipment was appraised at $180000. chapman uses th..
Effectiveness of communication - i.e.readability, legibility, grammar, spelling, neatness, completeness and presentation will be a minimum threshold requirement for all written work submitted for assessment.
Required: Were the analysis prepared by Cincinnati Flow Technology's engineering, manufacturing, and accounting departments and their recommendation to continue purchasing the pumps correct? Explain your answer and include any supporting calculatio..
Troy (single) purchased a home in Hopkinton, Massachusetts, on April 6, 2005, for $300,000. He sold the home on October 6, 2012, for $320,000. How much gain must Troy recognize on his home sale in each of the following alternative situations? (Lea..
A company requires $1,020,000 in sales to meet its net income target. Its contribution margin is 30%, and fixed costs are $180,000. What is the target net income?
He doesn't understand why under the Generally Accepted Accounting Principles (GAAP) he is required to use absorption costing. Explain to your friend why absorption costing is required under GAAP and why that is the superior method for external rep..
In accounting for a defined-benefit pension plan a. an appropriate funding pattern must be established to ensure that enough monies will be available at retirement to meet the benefits promised.
What is the break-even point (BEP) and why is it important? What is the Contribution Margin (CM) and why is it important?
Interest computed on the average accumulated expenditures for the warehouse construction was $50,000. What amount of interest should Liddy expense for the year?
Prepare the stockholder's equity section of the balance sheet in proper form for Vicario Corporation as of December 31, 2012. Account for treasury stock using the cost method.
Bass Lake Eatery borrowed $10,000 from the bank on April 1. The note is a 1-year, 12% note, with both principal and interest to be repaid on March 31, 2011.
The City Council of the City of Lewisville approves the budget of the library and, by law, is entitled to any excess earnings of the library. The City of Lewisville's Library should be reported as a:
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