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After evaluating Null Company's manufacturing process, management decides to establish standards of 3 hours of direct labor per unit of product and $ 15 per hour for the labor rate. During October, the company uses 16,250 hours of direct labor at a $ 247,000 total cost to produce 5,600 units of product. In November, the company uses 22,000 hours of direct labor at a $ 335,500 total cost to produce 6,000 units of product.
(1) Compute the rate variance, the efficiency variance, and the total direct labor cost variance for each of these two months.
(2) Interpret the October direct labor variances.
1.Prepare a proper title for the annual manufacturing statement of Arctic Cat. Does the date match the balance sheet or income statement? Why?
Review the American Marketing Association's Statement of Ethics and the Code of Conduct for the European Marketing Confederation.
Calculate the total work done in equivalent units and the unit cost for April. Calculate the cost of units completed and transferred. Also, compute the costs in ending work in process.
Should the Brinkers accept this offer right away? What quantitative factors and what operational, qualitative or strategic factors should Five-speed and Wilbur take into account in making this decision?
Paid the cash dividends and issued the certificates for the common stock dividend - Journalize the transactions
Describe the major sources of income and expenditures for households and What percentage of income is paid in taxes at each level?
Critics of absorption costing have increasingly emphasized its potential for leading to undesirable incentives for managers. Give an example.
Some firms have a lot of fixed costs and a few variable costs, while other firms are configured the other way around. What effect do you think the existence of a high proportion of fixed costs has on the desirability of using ABC methods?
Prepare an unadjusted trial balance, listing the accounts in their normal order and inserting the missing figure for cash.
1. create journal entries for each transaction.2. using the journal entries as a guide show whether every transaction
Your firm has a debt-equity ratio of .40. Your cost of equity is 12% and your after-tax cost of debt is 6%. What will your cost of equity be if the target capital structure becomes a 50/50 mix of debt and equity?
Custom Fiberglass Products had the following inventory balances at the beginning and ending of August 2007: Determine the prime cost added to production during August. Determine the conversion cost added to production during August.
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