Was the controllers remark correct-why

Assignment Help Financial Accounting
Reference no: EM13864877

A new assistant controller was heard saying, "All the assembly workers in this plant are covered by union contracts, so there should be no labor variances."

Was the controller's remark correct? Why?

or

Would the use of standards be appropriate in a nonmanufacturing setting, such as a fast-food restaurant?

Reference no: EM13864877

Questions Cloud

Pre-acquisition subsidiary revenues and expenses : December 31 consolidated financial statements are being prepared for All sports Company and its new subsidiary acquired on July 1 of the current year. Should All sports adjust its consolidated balances for the pre-acquisition subsidiary revenues and ..
Multi-band wearable antenna for health care services : An essay about multi-band wearable antenna for health care services. Minimum of 3 pages and with references/citation.
Calculate the net benefit of further processing : Port Allen Chemical Company processes raw material D into joint products E and F. Raw material D costs $6 per liter. It costs $100 to convert 100 liters of D into 60 liters of E and 40 liters of F. Determine whether Product F should be sold or proces..
Define cultural diffusion and cultural imperialism : Define Cultural diffusion and cultural imperialism
Was the controllers remark correct-why : A new assistant controller was heard saying, "All the assembly workers in this plant are covered by union contracts, so there should be no labor variances." Was the controller's remark correct? Why? Would the use of standards be appropriate in a nonm..
Consider a silicon pn junction diode at room temperature : Question 3 Consider a silicon pn junction diode at room temperature with: EG = 1.1 eV VBI = 950 meV
Depreciation on piece of factory equipment : During fiscal year 2012, Virchow Inc. recorded $10,000 of depreciation on a piece of factory equipment used to manufacture cricket bats. Which of the following items would be increased by this depreciation entry?
Shareholder basis differ from partner and partnership : How does the basis calculation of an S corporation shareholder basis differ from a partner and a partnership? Discuss any recent developments (within the last 36 months) in the calculation of an S corporation shareholder’s basis.
Decreased by these write-offs : During fiscal year 2012, Byrd Inc. wrote-off $8,000 of customer accounts as uncollectible. Which of the following items would be decreased by these write-offs?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Corporation is not eligible for consolidated return status

Which corporation is not eligible for consolidated return status?

  Prepare journal entries to record the above transactions

Tunley began Tunley Office Services in October and during that month completed these transactions: Prepare journal entries to record the above transactions. Explanations are unnecessary.

  How should we ensure that we have the correct capacity

Capacity is extremely important for an organization to function effectively and efficiently. How do we ensure that we have the correct capacity?

  Share cash dividend on its common stock

Watkins Enterprises earned net income of $95,000 during the year ended December 31,2012. On December 15, 2012, Watkins Enterprises declared the annual cash dividend on its 2% preferred stock (total par value, $140,000) and a $0.70 per share cash divi..

  What was the inventory turnover ratio

In an effort to concentrate its resources in more profitable areas, Frick Corporation recently sold its family pizza restaurant segment. The disposal constitutes: Selected information for 2014 is: cost of goods sold, $5,400,000; average inventory, $1..

  Flowchart for the accounts payable procedures

Draw document flowchart for the accounts payable procedures described above. Note: use same-page connector where it is appropriate.

  What is interest rate-total amount borrowed-maturity date

What are the amounts and descriptions for all of the company's long-term liabilities on its balance sheet for the two most recent years? What is the interest expense for the two most recent years? What amounts are included in the cash flow statements..

  Information relates to the supplies account

The following information relates to the supplies account of ABC Company: Calculate ABC Company's supplies balance at January 1, 2005. Do not use decimals in your answer

  Amortized monthly on a straight-line basis

Janenda Inc. issued $5,000,000 of convertible 5-year bonds on July 1, 2014. The bonds provide for 6% interest payable semi annually on January 1 and July 1. The discount in connection with the issue was $120,000, which is being amortized monthly on a..

  Type of fund in which each entry would be made

It is the policy of the organization to charge an entire year's depreciation in the year of acquisition. Prepare all required journal entries, being certain to indicate the type of fund in which each entry would be made.

  Show the accounts and changes

Show the accounts and changes, if any, that will result if the firm pays the dividends indicated in parts a and b. show the effects of $80,000 cash dividend on stockholders' equity.

  Significant noncash investing and financing activities

Use the following company information to prepare a schedule of significant noncash investing and financing activities: Sold a building with a book value of $125,000 for $195,000 cash and land with a book value of $32,000 for $65,000 cash.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd