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!
Hayes Chemical Company produces a chemical used in dry cleaning. Its accounting system uses standard costs. The standards per .5-gallon can of chemical call for .70 gallons of material and 2.0 hours of labor. (.70 gallons of material are needed to produce a .5-gallon can of product due to evaporation.) The standard cost per gallon of material is $5.30.The standard cost per hour for labor is $12.00.Overhead is applied at the rate of $8.95 per can. Expected production is 18,000 cans with fixed overhead per year of $35,100 and variable overhead of $7.00 per unit (a .5-gallon can).During 2012, 19,000 cans were produced; 15,000 gallons of material were purchased at a cost of $87,750; 14,000 gallons of material were used in production. The cost of direct labor incurred in 2012 was $465,300 based on an average actual wage rate of $11.75 per hour. Actual overhead for 2012 was $170,000.
Required:
a. Determine the standard cost per unit.b. Calculate material, labor, and overhead variances.c. List a possible cause for each variance.
Illustrate out the functions of the financial and managerial accountants and describe how their reports are employed by companies.
Calculate the material handling rate that would have been used by Eloise Smith's predecessor at East Coast Marine and calculate the revised material handling costs to be allocated on a per purchase order basis.
lance limited manufactures a special component wkq 14 that is used in the making of calculators. as a step towards
Whena significant percentage of project costs are related to procurement,
type your homework question here like help me understand this chemistry profinkler residential treatment facility
If the appropriate interest rate is 8 percent, what is the present value of the cash flow stream that the company is offering you? (Round answer to the nearest whole dollar, e.g. 5,275.)
What relationship, if any, do you notice between profit and stockholders' equity. Computer the row percentages for your cross tabulation in part (a).
Calculate the interest payable at maturity.
Describe how a 3 percent decline in sales at Home Depot could cause the 21 percent decline in profits. What accounting concept was involved, how were the many major types of costs incurred by Home Depot likely affected by decline in its sales
Toni is relying on financial feedback, and the product costing method adopted by the large bakery. What are the strengths and weaknesses of these approaches?
Compare the selling prices computed in parts a and b; does the selling price increase, decrease, or stay the same when the number of units produced and sold decreases? Why does this change occur?
Compute the total budget variances for materials and labor. Compute the costs of leather and direct labor that should be incurred for the production of 40,000 leather belts.
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