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Great Fender, which uses a standard cost accounting system, manufactured 20,000 boat fenders during 2014, using 144,000 square feet of extruded vinyl purchased at $1.05 per square foot. Production required 420 direct labor hours that cost $13.50 per hour. The direct materials standard was 7 square feet of vinyl per fender, at a standard cost of $1.10 per square foot. The labor standard was 0.025 direct labor hour per fender, at a standard cost of $12.50 per hour.
Compute the cost and efficiency variances for direct materials and direct labor. Does the pattern of variances suggest Great Fender's managers have been making trade-offs? Explain.
Briefly explain the main ethical dilemmas in the case study and compare and contrast the utilitarian, libertarian, deontological and virtue ethics perspectives on the dilemma(s) you have identified.
On December 31, 2013 Barker Inc. provided consulting services to Carr Company at an agreed price of $141,513. Barker accepted $30,000 down and agreed to accept the balance in four equal installments of $30,000 to be received quarterly (March 31, 2014..
Top management at radio 2UE ordered the station's broadcaster not to make derogatory comments about McDonald's on air or the station would lose its $170,000 advertising account with the fast-food chain, according to a leaked in internal memo.
Evaluate subsequent income and expenses
Which of the following shows only accounts that are increased by a debit to the account?
Schneider Inc. had salaries payable of $60,000 and $91,500 at the end of 2012 and 2013, respectively. During 2013, Schneider recorded $621,200 in salaries expense in its income statement. Cash outflows for salaries in 2013 were:
How many shares of common stock are in the treasury and what earnings have been retained in the business as of yearend
company doesn't ring up sales taxes separately on cash register total receipts for october amounted to $18900. if sales tax rate is 5%, what amount must be remitted to the state for October's sales tax?
Tim has AGI of $92,000 during the year and the following expenses related to his employment. Tim is reimbursed $13,000 under his employer’s accountable plan. Illustrate what are his deductions for and from AGI?
Calculate the N-content by weight in Melamine and if a diary product is analyzed to have an N-content of 10%, what are the proportions of protein and carbohydrate in this product?
When Mary Potts arrived at her store on the morning of January 29, she found empty shelves and display racks; thieves had broken in during the night and stolen the entire inventory. Accounting records showed that inventory costing $50,000 on January ..
What is the appropriate balance for the Allowance for Doubtful Accounts at year-end and show how accounts receivable would be presented on the balance sheet.
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