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A company that 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 material standard was 0.025 direct labor hour a per fender, at the standard cost of $12.50 per hour.
1. Compute the cost and efficiency variances for direct materials and direct labor. Does the pattern of variances suggest the company's managers have been making trade-offs? Explain. Consider this additional information: Static budget variance overhead=$5,500. Static budget fixed overhead-$22,000. Static budget direct labor hours-550 hours Static budget number of units-22,000 units 2. Compute the overhead variances for the year: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. 3. Explain why the variances are favorable or unfavorable.
on june 15 2011 sanderson construction entered into a long-term construction contract to build a baseball stadium in
Identify the main issues in the chosen area and accurately respond to each of the questions from the chosen area and build upon class activities by referencing new learning that has occurred.
Expenses sometimes make their contribution to revenue in a different period than when the expense is paid. Incurring wages in one period and paying in the next period often leads to which account appearing on the balance sheet at the end of the fi..
Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment. The balance in the prepaid insurance account, before adjustment at the end of the year, is $10,730.
Construct NPV profiles for Project A and B.
Discuss the impact that other factors might have. For example, would increasing the quantity of inventory increase costs? Would a salary cut affect employee morale? Would decreased morale affect sales?
Chair Inc. manufactures chairs. The company uses standard costing and has developed the following information about standards for its product: Compute 1) the direct labor rate variance and 2) the direct labor efficiency variance. Specify if each is f..
December 31, 2014, Trapp, Inc. has a machine with a book value of $940,000. The original cost and related accumulated depreciation at this date are as follows. Make sure that depreciation entries are made to update the book value of the machine prior..
Compute the total cost of the work in process inventory on January 31 and compute the cost of jobs completed during January, and present the proper journal entry to reflect job completion.
multiple choice questions on partnership and fundamentals of accounts.1.nbspafter one year of operation of the smith
The covariance between Eb Corporation's common stock returns and the return on the market portfolio is 0.006. The standard deviation of the market is 0.3. What is the beta of Eb Corporation's common stock?
question q1 a couple age 50 52 file a joint return for 2012 the couple claims their son as a dependent. the wife is
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