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The following information is for the third quarter of this year:
Planned
Actual
Production
92,000 units
87,000 units
Direct labor hours
506,800 DL hrs
380,000 DL hrs
Fixed manufacturing overhead
$205,000
$182,400
Variable manufacturing overhead
$910,000
$841,500
Standard direct labor hour per unit
5.5
Calculate the following three overhead variances.
a. Overhead volume variance
b. Overhead efficiency variance
c. Overhead spending variance
Describe the accounting concept of a business combination. Business Combination: According to International Financial Reporting Standard-3 Business Combinations "A busi
received 16,000 contribution in exchange for common stock
what is use of accounting ratios?
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Time tickets for factory employees during the month of August are summarized as follows. Prepare a journal entry to record the total factory payroll, the indirect payroll and the d
IFRS guidelines IFRSs Gives the guideline on the content and the accounting statements of certain events and transactions in the financial statements. The following IFRSs are r
Characteristics of a will 1) Dispositionary: A will disposes the deceased’s property. 2) Formality: For a will to be valid, it must be written and signed by the d
Limited Liability Partnership (LLP) - GENERAL PARTNERSHIP which, via registration with an appropriate state authority, is able to enshroud all its partners in limited liability. Ru
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