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Electric Zero produces relay units for generators. Each relay has a standard material cost of $67. Standards call for two relays per generator. In July, the company purchased 120 relays for $7,560. The company used 104 relays in the production of 50 generators, with 4 relays damaged in the installation process. The standard quantity of labor is 20 hours per generator, with a standard wage rate of $23. The company incurred 1,020 labor hours at a cost of $22,950. How much is the material quantity variance?
What is a responsibility accounting system?
Production costs chargeable to the Finishing Department in July in Murdock Company are materials $9,000, labor $23,800, overhead $18,000. Equivalent units of production are materials 20,000 and conversion costs 19,000. Compute the unit costs for m..
What standards could be set within each of the three production departments of the company? How should standards be set? Who should be involved in setting the standards?
Assume that the company is reluctant to fire workers in the circuit department even if they are not really needed.
Critics of absorption costing have increasingly emphasized its potential for leading to undesirable incentives for managers. Give an example.
The maintenance department's costs are allocated to other departments based on the number of hours of maintenance use by each department. The maintenance department has fixed costs of $500,000 and variable costs of $30 per hour of maintenance provide..
Prepare the 2013 Form 1040 and all other required Federal forms and schedules for Brett Simons. The returns should be prepared taking the maximum tax benefit allowable into consideration. Round all amounts to whole dollars.
Auditors should decide, based upon cost considerations, whether to test the design effectiveness or operating effectiveness of controls. Inquiry alone provides sufficient evidence to support operating effectiveness of a control.
What are the disadvantages of the cost-plus approach to pricing?
question 1probability and statistical quality controlshow all calculationsreasoninga an unbiased coin is tossed twice.
Triple Play Sports manufactures baseball gloves. Information related to a recent production period is as follows: What might have caused the amount of overhead applied to be different from the actual amount.
Borderbooks Company has two locations, downtown and at a suburban mall. During March, the company reported net income of $271,000 and sales of $1.2 million.
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