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Puffy Parkas, Inc. manufactures designer parkas. The company uses standard costing and has developed the following information about standards for its product.
During October, the company experienced an unanticipated spike in demand and increased production. Although planned production was for 1,200 units, the company actually produced 1,500 units. In anticipation of the original production volume, 3,600 yards were purchased, at a total cost of $55,000. During the month, 4,400 yards of material were used, and 610 direct labor hours were worked. Direct labor cost for the month totaled $5,551.Compute the direct labor rate variance and direct labor efficiency variance and specify if each is favorable or unfavorable.
each of the following situations has an internal control weakness. a. upside-down applications develops custom programs
What are the main characteristics of intangible assets? How are they presented in the balance sheet? How do you estimate their useful life? Why is there a distinction between purchased and internally created intangibles?
If the company were to prorate the variances, how much ($) of the direct material usage variance would be allocated to finished goods inventory?
a virtual company just hired you. your salary your reputation and your grade are all dependent on the job you do.a.
What correction, if any, should be made in the amounts of thecompany's owner's equity at the end of the year 2007and 2008?
fiberform industries produces a line of motorboats. the assembly department programs computerized equiptment to shape
sussman industries purchased a drilling machine for 50000 and paid cash. sussman expects to use the machine for ten
What gain or income do Sara and Jane recognize on the exchanges? What is Wren corporation's basis in the property transferred by Sara and Jane? How does wren treat the value of the services Jane renders?
Because of Wyatt's loyalty, Julie would like him to have shares in the corporation. What are the relevant tax issues?
If there were 30,600 units of inventory on hand on December 31, 2007, how many units should be produced in January, 2008 in order for the company to meet its goals?
She incurs expenses of $18,000 (accounting fees, marketing survey, etc.) in exploring its business potential. Her parents have agreed to loan her the money required to start the business. What amount of these investigation costs can Juliet deduct ..
the painting department of the garner manufacturing company has the following production and manufacturing cost data
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