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Shawl Corporation's variable overhead is applied on the basis of direct labor-hours. The standard cost card for product F02E specifies 5.5 direct labor-hours per unit of F02E. The standard variable overhead rate is $6.80 per direct labor-hour. During the most recent month, 1,560 units of product F02E were made and 8,700 direct labor hours were worked.
The actual variable overhead incurred was $52,635.
Required:
A. What was the variable overhead rate variance for the month?
B. What was the variable overhead efficiency variance for the month?
Calculate the expense on the income statement for the fiscal year ended December 31, 2012 under current GAAP related to the operating leases.
Show the Preparation of segmented income statement
A firm's dividends payable account increased $10,000 during the year. The firm also declared $35,000 of dividends. What is the complete disclosure in the direct method SCF for these events?
On the first day of the fiscal year, a company issues a $4,000,000, 6%, five-year bond that pays semi annual interest of $120,000 ($4,000,000 × 6% × ½), receiving cash of $4,175,041. Journalize the first interest payment and the amortization of the r..
Ending work in process contains 1000 units that are 100% complete as to materials and 60% complete as to conversion costs.compute equivalent units of production for both materials and conversion costs using the fifo method.
calculation of final contract price.a 500000 fixed price economic price adjustment contract contains a provision
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Determine 2010 net income under cash basis and accrual basis
According to a summary of the payroll of Scotland Company, $450,000 was subject to the 7.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and ..
Harris Company's sales revenue for 2005 was $300,000. Harris has one product that sells for $25 and has variable costs of $18. Fixed costs total $155,000. How many units must Harris sell to break even?
Family Value Stores [FVS] is a large department store in a Melbourne. Sales are made on the following terms: Cash; Lay-by
Do you believe this firms quality initiatives have been successful and be sure to justify your opinion with specific information from the quality report.
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