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Cedar Key Company produces handmade clamming buckets and sells them to distributors along the Gulf Coast of Florida. The company incurred $9,400 of actual overhead costs ($8,000 variable; $1,400 fixed) in May. Budgeted standard overhead costs for May were $4 of variable overhead costs per direct labor hour and $1,500 of fixed overhead costs. Normal capacity was set at 2,000 direct labor hours per month. In May, the company produced 10,100 clamming buckets by working 1,900 direct labor hours. The time standard is 0.2 direct labor hour per clamming bucket.
Required: Compute the variable overhead spending and efficiency variances and (2) the fixed overhead budget and volume variances for May.
Advise the CEO of Southern Star Ltd whether to accept or reject the order. Discuss the following issues that Southern Star Ltd will have to consider in deciding whether to accept or reject the order.
noosa bicycle ltd manufactures two types of bikes-amateur and professional. the company has been using direct labour
On August 5, 2005, which one of the following accounting entries, related to the $1,000 deposit paid to the supplier for the planters, should be recorded in Turnadot's financial accounting system?
Compute the overhead rates using the activity-based costing approach and determine the difference in allocation between the two approaches.
Calculate the balance in the investments account at December 31, 2011. Do not use decimals in your answer.
a company is a wooden product manufacturer specializing in wood kitchen and home products such as paper towel and
On April 1, the Snake River Racing Club (SRRC) purchased ten white-water rafts with a cash price of $3,000 each. SRRC offered to pay for the rafts by making a $5,000 down payment and by signing a $25,000, 8 percent interest-bearing note.
Write a memorandum to the CFO describing how this might affect the inventory observation.Please do not make this more than one-page in length.
Company currently applies manufacturing overhead to products using direct labor-hours as the allocation base. Using this traditional approach, compute the product margins for X100 and X200.
An Apple Computer Center sells computers for $1,258.60. Assuming the computers cost $10,788 per dozen, find for each computer the (a) dollar markup, (b) percent markup on cost, and (c) percent markup on selling price (nearest hundredth percent).
Prepare and evaluate a performance report for the vice president. Other costs for the vice president are assumed to be: budgeted $35,000 and actual $34,400.
Determine the journal entry to record their issuance by The Bradford Company on January 1, 2013.
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