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You've recently been promoted to senior financial analyst, and your first assignment is to evaluate the performance of your company's cost center. You work for a men's clothing manufacturer called Impressive Men's Wear. You currently have the following data: Standard material cost of $20 (5 units of raw materials at $4) Standard direct labor cost of $10 (1 hour per unit) Standard variable overhead cost of $10 (based on direct labor-hours) Fixed overhead is budgeted at $22,000 The following data for pertains to operations for June of this year: Raw materials purchased: 10,000 units costing Raw materials used in production of 1,500 units of finished product: 10,000 units of raw materials Direct labor used: 2,000 hours costing $30,000 Variable overhead costs incurred: $20,000 Fixed overhead budget variance: $20,000 Compute the cost variance for Materials price variance, materials quantity variance, labor rate variance, labor efficiency variance, variable overhead spending variance and variable overhead efficiency variance.
Class, let's begin by discussing the internal control issues that are related to cash. What makes cash control different than control over any other asset?
Present the necessary year end adjusting entry related to uncollecting accounts for each of the following independant assumptions
It purchased equipment normally selling for $10,000 at a 20% discount. Based on these facts, what is its gross income for the year?
Over time what happens to the balance in the "premium" account? Assume the effectiveinterest rate method is used, does the premium account change more at the beginning or the end of the time to maturity?
corporation issues a 1000000 three-year noninterest bearing note how much cash will it receive if the interest rate is
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Mclain corporation sold 6.000.000, 9%, 10years bonds on january 1, 2014. the bonds were dated january 1, 2014, and pay interest on july 1 and january 1. McLain corporation use the straight line method to amortize bond premium or discount. assume no i..
The earnings, dividends, and common stock price of Carpetto Technologies Inc. are expected to grow at 7 percent per year in the future. Carpetto's common stock sells for $23 per share
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Product-cost cross-subsidization is more likely to occur when:
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foulds company makes 13000 units per year of a part it uses in the products it manufactures. the unit product cost of
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