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Hi-Tek Labs performs steroid testing services to high schools, colleges, and universities.Because the company deals solely with educational institutions, the price of Each test is strictly regulated. Therefore, the costs incurred must be carefully monitored And controlled. Shown below are the standard costs for a typical test.
The lab does not maintain an inventory of petrie dishes. Therefore, the dishes purchased Each month are used that month. Actual activity for the month of May 2010, when 2,000 tests were conducted, resulted in the following. Direct materials (2,020 dishes) $ 4,242 Direct labor (995 hours) 20,895
Instructions(a) Compute the price and quantity variances for direct materials and direct labor.(b)compute the controllable and volume variances for overhead.(c) Provide possible explanations for each unfavorable variance.
The following cost card was found in the Inventory ledger for part AAA. Direct Materials $600, 20 hours of Direct Labor at $20 per hour $400, manufacturing overhead is applied at $15 per direct labor hour, one third of the overhead is fixed the re..
Spock Corporation's unadjusted trial balance at Dec 31, 2007, included the following accounts. Spock Corporation estimates its bad debt expense to be 1.5% of net sales.
hatch company has two divisions o and e. during the year just ended division o had a segment margin of 9000 and
duweynie pottery inc. is divided into two operating divisions pottery and retail. the company allocates power and
Simon is the majority shareholder and managing director of Slowgo Pty Ltd which operates a chain of discount stores.
lansing companys 2013 income statement and selected balance sheet data at december 31 2012 and 2013 follow.lansing
Jill reported a net loss of $6 million for the year. What amount of loss should Jack report in its income statement for 2011 relative to its investment in Jill?
You have a client considering plans for transferring her wealth over the next five to ten years. Given the uncertainty in this area of the tax code, what are some key factors to consider in deciding whether to accelerate transfers into 2012 or del..
Prepare, in good form, the cash flows from operating activities section of the statement of cash flows.
75% of this amount relates to the factory.
the four key behavioral considerations in management accounting and control system design include all of the following
fallgatter inc. expects to sell 17500 units. each unit requires 3 pounds of direct materials at 12 per pound and 2
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