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Part of your company's accounting database was destroyed when Godzilla attacked the city. You have been able to gather the following data from your files. Reconstruct the remaining information using the available data. All of the raw material purchased during the period was used in production. (Hint: It is helpful to solve for the unknowns in order indicated by the letters in the following table.
Direct Material Direct LaborStandard price or rater per unit of input $16/lb eStandard quantity per unit of output c fActual quantity used per unit of output a 3.5 hoursActual price or rate per unit of input $14/lb $21/hourActual output 20,000 units 20,000 unitsDirect-material price variance $120,000 F -Direct-material quantity variance b -Total of direct-material variances $40,000 -Direct-labor rate variance - dDirect-labor efficiency variance - $200,000 FTotal of direct-labor variances - $130,000F
Compare and contrast a static budget and the flexible budget in terms of both characteristics, timing and uses.
George Marcus, a recent college graduate, has been appointed by Taylor Corporation at a salary of $54,000 per year. In anticipation of his salary, George bought a $20,000 new ski boat and will pay for it at a rate of $425 per month
Collect and examine two newspaper or magazine articles relation to management accounting issues. The analysis must include:
Which if the following statements are correct?
What kind of business decision might cause you to increase your fixed costs? Define variable costs. Will purchasing a new manufacturing facility increase fixed costs or variable costs?
Calculate profit of each center if company uses the direct allocation method. Calculate the profit of each center if the company allocates cost center 1 first and then cost center 2
Write down the difference between the budget and Comprehensive Annual Financial Report (CAFR)? Describe and provide examples.
Williams Inc. estimated overhead to be $440000 and direct labor hours to be 100,000 for the year. Actual direct labor ended up being 120,000. Actual overhead for the year amounted for $500,000. What is the predetermined overhead rate?
Your CFO, in her initial work, needs to decide whether to set up a job order costing system or a process type costing system. She has asked you to make a recommendation based on the following information.
In 2010, the Bayside Chemical Company prepared the following analysis of an investment proposal for a new manufacturing facility: . Do you have any suggestions that might increase the project’s net present value? (No calculations are required.)
CollegePak Company produced and sold 60,000 units throughout the year just ended at an average price of $20 per unit. Variable manufacturing costs were $8 per unit, and variable marketing costs were $4 per unit sold.
Baker, Inc., produces a number of components that are used in home theater systems. Fred Briggs, head of the company's market research department,
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