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Tower Company planned to produce 3,000 units of its single product, Titactium, during November. The standards for one unit of Titactium specify six pounds of materials at $0.30 per pound. Actual production in November was 3,100 units of Titactium. There was a favorable materials price variance of $380 and an unfavorable materials quantity variance of $120. Based on these variances, one could conclude that:
a. more materials were purchased than were used.
b. more materials were used than were purchased.
c. the actual cost per pound for materials was less than the standard cost per pound.
d. the actual usage of materials was less than the standard allowed.
The Ice Corporation issues 30,000 shares of $50 par value preferred stock for cash at $60 per share. The entry to record the transaction will consist of a debit to Cash for $1,800,000 and a credit or credits to:
Barnett Corporation owns an office building that cost $900,000. Barnett has taken $600,000 of depreciation on the building. The property is subject to a $600,000 mortgage. The office building has a current FMV of $400,000.
Suppose your grandparents have just given you $20,000 on the situation that you invest the money in the stock market. As you contemplate making your investment choices;
The impact on net operating income of short-run changes in sales for a segment can be most clearly predicted by analyzing:
Robert Huft retires in 6 years. He would have to purchase equipment costing $590,000 to equip the outlet. Other outlets in the fast food chain have an annual net cash inflow of about $140,000. Mr. Anders would close the outlet in 6 years. He estim..
Jeremy reported net income of $50,000 for 2003. Non-controlling interest income that will appear in the consolidated income statement for 2003 is:
At December 31, 2011, the following information was available for J. Graff Company: ending inventory $53,800, beginning inventory $65,120, cost of goods sold $285,860, and sales revenue $381,580. Calculate inventory turnover and days in inventory ..
What type of business structure is it-sole proprietorship, partnership, or corporation? Why did you choose that structure? What type of services or products does your business provide?
If the firms tax rate is 34% what is the projects estimated net operating profit after taxes? What is the projects annual operating cash flows?
Equipment with an estimated market value of 75,000 is offered for sale at 95,000. the equipment is acquired for 30,00 in cash and a not payable of 50,000 due in 30 days the amount used in the buyers accounting records to the acquired asset is what..
Robert assumes the liability on the property. Robert's basis in his Texas Corporation stock is $100,000. What is the amount of gain or loss recognized by Robert on the distribution?
If the East territory is discontinued, one sales manager (whose salary is $40,000 per year and is part of the fixed costs) will be relocated to the West territory. By how much would Green's income change if the East territory is eliminated? Recast..
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