Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
You have recently accepted a position with Lorthen Inc. As part of your duties, you review the variances that are reported for each period and make a presentation to the company's executive committee. Earlier this morning you received the variances for one of the company's major products for the most recent period. After reviewing the variances and organizing the data for your presentation, you accidentally placed the material on top of some papers that were going to the shredder. In the middle of lunch you suddenly realized your mistake and dashed to the shredding room. There you found the operator busily feeding your pages through the machine. You managed to pull only part of one page from the feeding chute, which contains the following information:Standard Cost CardDirect materials, 2.0 meters at $16.00 per meter . . . . . . . . $32.00Direct labor, 1.0 hours at $15.00 per hour . . . . . . . . . . . . . $15.00Variable overhead, 1.0 hours at $9.00 per hour . . . . . . . . $9.00
The standard for variable overhead is based on direct labor-hours. All of the materials purchased during the period were used in production. At lunch your supervisor said how pleased she was with your work and that she was looking forward to your presentation that afternoon. You realize that to avoid looking like a bungling fool you must somehow generate the necessary backup data for the variances before the executive committee meeting starts in one hour.
Required:
1. How many units were produced during the period? 2. How many meters of direct materials were purchased and used in production? 3. What was the actual cost per meter of material? 4. How many actual direct labor-hours were worked during the period? 5. What was the actual rate per direct labor-hour? 6. How much actual variable manufacturing overhead cost was incurred during the period?
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 is the company's registered name - what is the company's standard industrial classification and what is the company's state or country of incorporation?
Prepare general journal entries showing the transactions admitting Bridges and Terrell to the partnership and calculate the ending capital balances of all four partners after the transactions.
Marion Chemicals produces a chemical used as a base in paints. In the manufacturing process, all materials are added at the start of the process, whereas labor and overhead are added evenly throughout production.
If you buy this option for $310.25 and Johnson's stock price actually rises to $45, what would your pre-tax net profit be?
Journalize indicated transactions of Ruby Jewels. Use the periodic inventory system. Explanations are not required.
What is an operating cycle? Why is it important? What are some methods your organization uses to improve the operating cycle?
Green Company's variable expenses are 75% of sales. At a sales level of $400,000, the company's degree of operating leverage is 8. At this sales level, fixed expenses are
The beginning work in process inventory was $20,000 and the ending work in process inventory was $11,000, What was the cost of goods manufactured for the month?
a scholarship fund is started on january 1 2000 with an initial deposit of 100000 in an account earning i2.08 with
Direct materials used during the year amount to $59,800, and the cost of goods sold for the year was $68,900.
code of ethics110.1 the principle of integrity imposes an obligation on all members to be straightforward and honest in
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd