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3. Definitions of manufacturing concepts Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies used Brass $75,000 Repair parts 16,000 Machine lubricants 9,000 Wages and salaries Machine operators 128,000 Production supervisors 64,000 Maintenance personnel 41,000 Other factory overhead Variable 35,000 Fixed 46,000 Sales commissions 20,000 Compute: a. Total direct materials consumed b. Total direct labor c. Total prime cost d. Total conversion cost
Purchase of office supplies.
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Advertising expense $17,200 Wages expense-assemblers 36,840 Depreciation expense-machines 21,480 Utilities expense-factory 21,120 Wages expense-lathe operators 23,480 Repair expens
What is a standard and acceptable variance
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1) A) In a competitive market place (pure competition) is it possible to continually sell your product at a price above the average cost of production? Why or why not? B) Why d
Managers need financial information to help them make decisions, communicate important information about their organization, and demonstrate fiscal responsibility to stakeholders.
Direct Labour Budget It represents the forecasts of indirect and direct labour requirements to meet the demands of the company throughout the budget period. Therefore the budg
Pritchard Company manufactures a product that has a variable cost of $30 per unit. Fixed costs total $1,500,000, allocated on the basis of the number of units produced. Selling pri
Accounting for Job Order Costing 1. Direct Labor Dr W.I.P. Control Account Cr Cash Account 2. Accrued Direct Wages Dr W.I.P. Control Account Cr Wages
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