Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
P11-3A Hopkins Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2014, 11,200 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 14,000 direct labor hours. All materials purchased were used.
Cost Element
Standard (per unit)
Actual
Direct materials
8 yards at $4.40 per yard
$375,575 for 90,500 yards
($4.15 per yard)
Direct labor
1.2 hours at $13.40 per hour
$200,220 for 14,200 hours
($14.10 per hour)
Overhead
1.2 hours at $6.10 per hour
$49,000 fixed overhead
(fixed $3.50; variable $2.60)
$37,000 variable overhead
Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $49,000, and budgeted variable overhead was $36,400.
Instructions
(a) Compute the total, price, and quantity variances for (1) materials and (2) labor.
(b) Compute the total overhead variance.
(c) Which of the materials and labor variances should be investigated if manage- ment considers a variance of more than 4% from standard to be significant?
For each of the following scenarios, say whether the data should be treated as independent or paired samples. Explain briefly. If paired, explain what the pairing involves.
simon companys high and low level of activity last year was 60000 units of product produced in may and 20000 units
fredonia inc. had a bad year in 2013. for the first time in its history it operated at a loss. the companys income
Is any option that Mary is considering acceptable under generally accepted accounting principles? Why or why not? Do any of the options considered by Mary constitute financial statements fraud?
Determine the number of personal and dependency exemptions in each of the following independent situations. a. Reginald, a U.S. citizen and resident, contributes 100% of the support of his parents, who are citizens of Canada and live there.
scarecrow co. purchased land and a building for 1500000. the appraised value of the land is 650000 and the appraised
In RE7-6, At the end of the first quarter of Year 2, McKinney & Co. reevaluates its receivables. McKinney & Co.'s management decides that $8,500 due from Mangold Corporation will not be collectible.
The Kalo Fertilizer Company makes a fertilizer using two chemicals that provide nitrogen, phos¬phate, and potassium. A pound of ingredient 1 contributes 10 ounces of nitrogen and 6 ounces of phosphate, while a pound of ingredient 2 contributes 2 o..
A Tire manufacturer believes that the tread life of its snow tires can be described by a Normal model with a mean of 32,000 miles and a standard devia- tion of 2500 miles.
you have 15000 you want to invest for the next 40 years. you are offered an investment plan that will pay you 8 percent
a. Calculate the after-tax cost of debt, assuming the debt remains outstanding until maturity. b. Calculate the after-tax cost of debt, assuming investors put the bond back to the firm at the end of the fifth year.
The books of Conchita Corporation carried the following account balances as of December 31, 2010. Prepare the journal entries required for the dividend declaration and payment assuming that they occur simultaneously.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd