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The standard costs and actual costs for direct labor for the manufacture of 2,500 actual units of product are as follows: Standard Costs Direct labor 7,500 hours @ $12.00 Actual Costs Direct labor 7,400 hours @ $11.40 The amount of the direct labor rate variance is: Answer A.$4,440 unfavorable B.$4,500 favorable C.$4,440 favorable D.$4,500 unfavorable
(a) Prepare a condensed cost of goods manufactured schedule. (b) Prepare an income statement for May through gross profit. (c) Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2005.
Arnold and Barbara Cane were divorced in June 2011. Pursuant to the divorce decree, Arnold is obliged to perform as follows.
Daniel is a calendar-year taxpayer whose wife died in August of 2011. His eight year old son lives with him. During 2011, Daniel had salary income of $67,000, $1600 of qualified dividend income, and received $50,000 from the life insurance policy ..
Peter is currently raising corn on his 100-acre farm and earning an accounting profit of $100 per acre. However, if he raised soybeans, he could earn $200 per acre. Is he currently earning an economic profit? Why or not?
During 2010, Vaughn Corporation sold merchandise costing $1,500,000 on an installment basis for $2,000,000. The cash receipts related to these sales were collected as follows: 2010, $800,000; 2011, $700,000; 2012, $500,000.
Write a 700- to 1,050-word paper in APA format comparing and contrasting the different types of accounting, namely accrual, cash flow, and fund accounting. Be sure to consider the following:
A cpa firm has audited the financial statements included in a form s-1 filed with the sec under the securities act of 1993. shortly thereafter, the company went bankrupt and a class action lawsuit was filed by the initial investors against the cpa..
Assuming that the City maintains its books and records in a manner to facilitate the preparation of the fund financial statements, what is the appropriate entry in the General Fund to record this sale?
The company also makes its disbursements from remote disbursement centers so checks written by City Farm take longer to clear the bank. Collection time has been reduced by two days and disbursement time increased by one day because of these polici..
They are issued at $300,300 and their market rate is 9% at the issue date. Prepare the January 1, 2009, journal entry to record the bonds' issuance.
The land had a cost of $350,000. The adjustment in the reconciliation, when moving from the governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the change in net assets for governmental activities in the Statemen..
Justin and Tiffany form the equal TJ Partnership. Justin contributes cash of $300,000. Tiffany contributes property with an adjusted basis of $200,000 and a fair market value of $300,000.
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