Reference no: EM13906705
For the month of April, budgeted sales were $100,000 and budgeted cost of goods sold was $80,000. Actual sales were $80,000 and actual cost of goods sold amounted to $90,000. In preparing its monthly performance report:
The Hernandez Company budgeted for an output of 50,000 units. Budgeted amounts were as follows: direct material, $100,000; direct labor, $50,000; variable factory overhead, $75,000; and fixed factory overhead, $100,000. Actual units produced amounted to 60,000. Actual costs incurred amounted to $110,000 for direct materials, $60,000 for direct labor, $100,000 for variable factory overhead, and $97,000 for fixed factory overhead. Assuming a flexible budget, how much was the variance between total budgeted production costs and total actual production costs?
Total production of 1,000 units of finished goods required 3,000 actual parts at $2.25 per part. The standard is 2.9 parts per unit of finished goods, at a standard price of $2.30 per part. Which of the following statements is true?
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Should slugger accept this one-time special order
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Determine the cost of timber sold related to depletion
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New fixed assets is required to support this growth in sales
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Beginning direct materials inventory consisted
: Assume that March’s budgeted sales are 10,000 units. Beginning finished goods inventory contained 1,000 units, and 1,500 units are desired to be on hand at month end. Conversely, beginning direct materials inventory consisted of 1,500 units, but only..
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Variance between total budgeted and actual production costs
: For the month of April, budgeted sales were $100,000 and budgeted cost of goods sold was $80,000. Actual sales were $80,000 and actual cost of goods sold amounted to $90,000. In preparing its monthly performance report: Assuming a flexible budget, ho..
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Record the furtastics purchase of advertising services
: Furtastic manufactures imitation fur garments. On June 1, 2016, Furtastic made a sale to Willett’s Department Store under terms that require Willett to pay $150,000 to Furtastic on June 30, 2016. Record the Furtastic’s purchase of advertising service..
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Depreciation is a non-cash expense
: Assets that are increasing in value are still subject to depreciation. Depreciation is a non-cash expense. Accumulated depreciation represents a growing amount of cash to be used to replace the existing asset. Accumulated depreciation is that portion..
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Walmart employees to get raises
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Prepare the journal entry to record organizational costs
: Horace Greeley Corporation was organized in 2013 and began operations at the beginning of 2014. The company is involved in design consulting services. the following costs were incurred prior to the start of operations: Compute the total amount of org..
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