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The following information is for the third quarter of this year:
Planned ActualProduction 92,000 units 87,000 unitsDirect labor hours 506,800 DL hrs 380,000 DL hrsFixed manufacturing overhead $205,000 $182,400Variable manufacturing overhead $910,000 $841,500Standard direct labor hour per unit 5.5
Required: Calculate the following three overhead variances:a. Overhead volume variance.b. Overhead efficiency variance.c. Overhead spending variance.
Explain and illustrate with your own example the operating cycle of a merchandiser. Explain and illustrate the differences between a multiple-step income statement and a single
discuss stages of accounting for costs
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i. Identify the organization ii. Identify the stakeholders iii. Give the major requirements for the IT application iv. Reflect on how difficult it was to do the require
actual cost
What is an advantage of using absorption costing? A. It permits a business to calculate the break-even point for production. B. It permits a business to calculate the total c
1) Define Elasticity. If you have a product where elasticity is less than one, what does that mean? Is it good, bad for the firm? 2) Why will firms not shut down as soon as th
What are the dependent and independent variables in Cost Accounting??
Overhead Variances This explains how the variable overhead total variance and the fixed overhead total variances calculated. You can recall the overheads refer to production c
Determine Profit by Using Absorption Costing Assuming the fixed overhead absorption rate was Ksh.3 per litre, then what would be the profit utilizing absorption costing? a)
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