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Patel and Sons, Inc., uses a standard cost system to apply overhead costs to units produced. Practical capacity for the plant is defined as 50,000 machine hours per year, which represents 25,000 units of output. Annual budgeted fixed overhead costs are $250,000 and the budgeted variable overhead cost is $4 per unit. Factory overhead costs are applied on the basis of standard machine-hours allowed for units produced. Budgeted and actual output for the year was 20,000 units, which took 41,000 machine hours. Actual fixed overhead costs for the year amounted to $245,000 while the actual vari- able overhead cost per unit was $3.90. What was (a) the fixed overhead spending (budget) variance for the year, and (b) the overhead production-volume variance for the year?
a masters of accountancy degree at mid-state university would cost 10000 for an additional fifth year of education
american-based companies are required to adhere to u.s. gaap however as commerce moves toward a global marketplace
In addition, the partnership purchased all of the assets of Granny Newcombs, Inc. Of the total purchase price for these assets, $60,000 was allocated to the trade name and logo.
Recognize the industries of your six selected securities. (including BONDS)
Determine the reliability factor
Kristen's AGI is $120,000 before considering effect of rental activity. What is Kristen's AGI after considering the tax effect of rental use of her home?
larry the locksmith needed some long-term financing and arranged for a 200000 20-year mortgage loan on december 31
a company issues at par 9 bonds with a par value of 100000 on april 1. the bonds pay interest semi-annually on january
How much goodwill will be reported in the consolidation financial statements on December 31, 2012, at the end of Allen's fiscal year? What is the excess amortization expense for the period ending December 31, 2012?
What is the basic rule for recognizing intergovernmental grant revenues in governmental type funds?
Lighthouse, Inc. uses the percentage of credit sales method to record bad debt and estimates the percentage to be 2.5%. What is the adjusting entry to record bad debt on 12/31/10?
extreme sport inc uses the allowance method to account for bad debts. during 2010 the company recorded 560000 in credit
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