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You have been hired by SecuriDoor Corporation, the manufacturer of revolutionary new garage door opening device. The president has asked that you review the company's costing system and "do what you can help us get better control of our manufacturing overhead costs." You find that the company has never used a flexible budget, and you suggest that preparing such a budget would be an excellent first step in overhead planning and control. After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for April:
During April, the company worked 18,000 machine-hours and produced 12,000 units. The company had originally planned to work 20,000 machine -hours during April.
1.Prepare a report showing the activity variances for April. Explain what these variances mean.
2.Prepare a report showing the spending variances for April. Explain what these variances mean.
Visit the websites of Procter & Gamble and Harley Davidson
On January 1, 2010, Ellison Co. issued eight-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: The present value of the ..
Turner Corporation produces overdrive transmission parts for several small specialty automobile companies. Prior to founding the firm, Benson Turner, the company's president, had an illustrious stock-car-racing career.
Octagon Co. appropriately uses the installment sales method of accounting for its installment sales. Prepare journal entries to record the sale, collection, and recognition of gross profit.
One year from the issue date (July 1, 2012), the corporation exercised its call privilege and retired the bonds for $395,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs.
What important information, related to the accounting equation, is captured by accounting information systems? How does this information get translated to the financial statements? Is it necessary for the accounting information systems to record d..
Matthew was a participant in his employer's contributory qualified pension plan. The plan balance of $2 million is paid to Olivia, Matthew's daughter and beneficiary. The distribution consists of the following.
Security A has an expected return of 12.4% with a standard deviation of 15%, and a correlation with the market of 0.85. Security B has an expected return of 0.73% with a standard deviation of 20%, and a correlation with the market of 0.67. The sta..
Which one of the following is a characteristic of a business combination that should be accounted for as a purchase?
What is Medical Associates cost of equity estimate according to the DCF method and what is the cost of equity estimate according to the CAPM?
a partnership of attorneys in the st. louis missouri area has the following balance sheet accountsas of january 1
Nashville Corporation allocates administrative costs on the basis of staff hours. Short-run monthly usage and long-run monthly usage of staff hours for Operating Departments 1 and 2 follow:
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