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Winners Trophy Company produces a variety of athletic awards, most of them in the form of trophies. Its deluxe trophy stands 3 feet tall above the base. The company's direct materials standards for the deluxe trophy include 1 pound of metal and 8 ounces of wood for the base. Standard prices for the year were $3.30 per pound of metal and $0.45 per ounce of wood. Direct labor standards for the deluxe trophy specify 0.2 hour of direct labor in the Molding Department and 0.4 hour in the Trimming/Finishing Department. Standard direct labor rates are $10.75 per hour in the Molding Department and $12.00 per hour in the Trimming/Finishing Department. During January, the company made 16,400 deluxe trophies. Actual production data are as follows:
Required: Compute the direct materials price and quantity variances for metal and wood.
Manufacturing overhead for the period is budgeted at $135,000, of which 20 percent is fixed. The 17,200 hours worked during the period resulted in production of 8,500 units. Manufacturing overhead cost incurred was $136,500.Calculate the following..
The discount rate of interest for such bonds on April 1, 2011, is 8%. What cash proceeds did Towel Enterprises receive from issuance of the bonds?
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Aspen Co. expects to maintain the same inventories at the end of 2008 as at the beginnign of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various depart..
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a company expected its annual overhead costs to be 900000 and direct labor costs to be 1000000. actual overhead was
which stock might an analyst likely investigate as being potentially undervalued by the market? i need thorough
Income statement, Little Books Inc. recently reported $3 million of net income. Its EBIT was $6 million, and its tax rate was 40 percent.
What effect does the recognition of bad debt expense have on the net realizable value? What effect does the write-off of accounts have on the net realizable value?
Prepare the adjusting entry that records bad debts expense. Prepare the journal entry that records a write-off of a $700 uncollectible account receivable.
colerain corporation is a merchandising company that is preparing a profit plan for the third quarter of the calendar
Find the by completing a cost of goods sold statement-Marketing and administrative costs and cost of services sold.
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