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Quicksilver Compnay has set the follwoing standards for one unit of product:
Direct materialQuantity: 6.2 lbs per unitPrice per lb: $11 per lb
Direct LaborQuantity: 6 hrs per unitRate per hr: $23 per hr
Actual costs incurred in the production of 2,800 units were as follows:
Direct material: $194,350 ($11.50 per lb)Direct labor: $393,750 ($22.50 per hr)All Materials purchased were consumed during the period.
Required:Calculate the direct-material price and quantity variances, and the direct-labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable.
Changes in Variable Cost and Selling Price per Unit The contribution sales ratio is affected by any change in variable cost or selling price per unit. This ratio is a mea
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A company has developed a new product which it will launch next month. During the initial production phase the company expects to produce 6,400 units in batches of 100 units. The f
Quicksilver Compnay has set the follwoing standards for one unit of product: Direct material Quantity: 6.2 lbs per unit Price per lb: $11 per lb Direct Labor Quantity: 6 hrs
Income Statement Preparation The following information is taken from the records of Wadley's Car Wash for the year ended December 31, 2012. Income taxes . . . . . . . . . . .
explain advantages of marginal costing
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