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Sprinkle and Co consume 40,000 lbs. of brass to make 160,000 nozzles, and expect brass to cost $2.20 per pound. During March, the firm bought 44,000 pounds of brass for $96,800. It used 43,500 pounds to make 175,000 nozzles. What is Sprinkle and Co's total materials cost variance (i.e., the variance due to purchase PLUS the variance due to use) for the month of March? Enter favorable variances as a positive number and unfavorable variances as a negative number.
Which of the following statements is not accurate?
The benefits of comparing actual performance of the operations against planned goals include all of the following except:
How does the company compare in profitability with competitors?
Tammy Potter, a new partner with the regional CPA firm of Tower & Tower, was recently appointed to the board of directors of a local civic organization. The chairman of the board of the civic organization is Lewis Edmond, who is also the owner of ..
Kira Wahlgren acquired 100 shares of stock by gift from her father. Her father paid $1,000 in gift tax on the gift. At the time of the gift, the shares had a fair market value of $60 per share. Her father's adjusted basis in the shares was $90 per..
What are the steps in completing the accounting cycle? How do the different steps affect the financial statements?
Derivative accounting: What are the disclosure requirements for traditional and derivative financial instruments? Should companies disclose if such instruments are used for hedging or speculation? Why?
Research and analyze the accounting system of your selected country; present results in a brief paper.
Which of the following statements is reflects the impact on stockholders' equity of a transfer from available-for-sale to trading.
The minimum lease payments were determined to have a present value of $208,493 at an effective interest rate of 10%. In 2009, Dalton should record interest expense of
What is meant by an entity's functional currency and what are the economic indicators indentified by the FASB to provide guidance in selecting the functional currency? Why is this an important question?
Discuss a possible negative managerial scenario that the regional manager may be sensing. Might the manager of Store 9 be an exceptional manager? What are the ethical implications of the scenario?
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