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Spine Line is a manufacturer of high-quality products designed to help support healthy spines. Their newest product offering is a massage chart. Below is the standard cost structure for the chair:Standard Cost Sheet: Massage ChairMetal tubing6 meters @ $3$18.00Leather2 square meters @ $7$14.00Padding3 kilograms @$4$12.00Direct labor4 hours @ $15$60.00Total standard cost$104.00This month, Spine Line manufactured 500 massage chairs. The following costs were incurred:Actual Costs Incurred for the Month: Massage ChairMetal tubing3,100 meters$9,455Leather1,100 square meters$7,722Padding1,600 kilograms$6,560Direct Labor1,800 hours$27,270Total cost$51,007Adapted from: Zimmerman, J. L. (2014). Accounting for decision making and control (8th ed.). New York: NY: McGraw-Hill, "Healing Touch", p. 565.Suppose you are the senior controller for Spine Line and you plan to perform a variance analysis of the massage chairs manufactured to determine if the standards are being met. Once you have completed the analysis, you plan to show it to the production department manager and ask for an explanation of any variances that you believe should be examined. The Assignment:?Part 1: Calculate all materials and labor variances in a spreadsheet by using a program like Excel. Be sure to include price, quantity, wage rate, and labor efficiency variances.?Summarize and analyze the actual costs in relation to the standard costs incurred for the month.?Ask for clarification of any variances that need to be investigated.
What is Teresa's basis in the stock after distribution? What is her remaining "outside" basis in HT?
Crown Industries has the following information about its standards and production activity for December-Assume the allocation base for fixed overhead costs is the number of units to be produced.
The legal effect of the presence of a superceding event is that:
Calculate the average total cost per unit for the 16,000 units manufactured in May. Explain why this figure would not be useful to a manager interested in predicting the cost of producing 19,200 units in June.
Garza Co. had the following transactions during the current period. Journalize cash dividends; indicate statement presentation.
Race decided to use the equity method to account for this investment. What was the non-controlling interest's share of consolidated net income?
What is the purpose of the Statement of Cost of Goods Manufactured?
Suppose the company changed its depreciation calculation procedures (still within GAAP) such that its depreciation expense doubled. How would this change affect Brandywine's net income, total profit margin, and cash flow?
The relationship between the amount funded and the amount reported for pension expense is as follows:
A business simulation game that is used by colleges and universities all over the world has students submit decisions over the Internet. Decisions are stored online, processed on the server, and then the results are stored online.
Calculate the IRR and NPV of this project utilizing a 12% discount rate and a 15% cap rate. Ms. Brown was able to secure a loan for $1,540,000, and an equity investor agreed to invest the remaining $660,000 in exchange for 20% ownership in the pro..
During 2010, Burlington Company incurred operating expenses amounting to $600,000, of which $550,000 was paid in cash; the balance will be paid in January 2011. On the 2010 income statement of the company, what amount should be reported for operat..
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