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In December of Year 2 operations (month 24), Memories, Inc. actually produced and sold 32,675 figurines, consisting of 30,570 dolls and 2,105 replicas. The budgeted sales price for dolls was $5.00, and $5.25 for replicas. The estimated production and sales during December was 31,678 dolls and 2,595 replicas. Required D. Assuming MI used a predetermined overhead rate of $2.13 per DLH, compute the variable overhead rate and efficiency variances. MI actually paid $20,852 in total overhead costs, consisting of $17,002 of variable overhead and $3,850 of fixed overhead. How would these variances be interpreted? What might have caused them? Would you consider them large enough to be important? E. How might MI extend its variance analysis to be compatible with activity-based costing if they decided to switch to that method?
Starting at age 25, Jim saves $1200 a year for 8 years then stops saving (leaves his money in the retirement account to accumulate interest). Starting at age 35, John saves $1200 a year for the next 30 years.
In 2014, Rick had a $12,000 gain on the sale of stock purchased three years ago, a $7,000 loss on the sale of a personal use automobile, and a $3,000 loss from the sale of land used in his business (owned for six years).
Evaluate the predetermined overhead rate for the year. Break the rate down into fixed and variable components.
A common measure of liquidity is
question 1.a budget is a formal written statement of managements strategies for the future expressed in financial
Prepare a summarized income statement for the year 2014. Prepare a statement of stockholders' equity for the year 2014. Prepare a balance sheet at December 31, 2014.
Prepare a budgeted contribution margin income statement for 2015. Your reportshould show the budgeted (estimated) operating income based on the information provided above and in C3. Will the changes improve operating income sufficiently? Explain?
Do the three methods differ in their effect on the company's profitability?- Do they differ in their effect on the company's operating cash flows?
suppose that you have just run out of money and are unable to move your idea from its development stage to production
Prepare an income statement in good form for Rustic Company and Prepare a classified balance sheet.
Net income for the current year was $300,000. If the company paid a dividend of $2 per share on its common stock, illustrate what is the balance in Retained Earnings at the end of the year?
Journalize the adjusting entries and the transactions - Transactions for fixed assets including sale
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