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AirPro Corp. reports the following for November. Compute the controllable overhead variance for November.
Actual total factory overhead incurred . . . . . . . . . . . . . . . . . . . $ 28,175 Standard factory overhead:
Variable overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3.10 per unit produced Fixed overhead:
($ 12,000/ 12,000 predicted units to be produced) . . . . . . . . . . $ 1 per unit
Predicted units produced . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,000 units
Actual units produced . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,800 units
Prepare the journal entry on P Companys books to record the acquisition of the assets and assumption of the liabilities of S Company.
Sales were $780,000 for the year, variable selling and administrative expenses were $88,400, and fixed selling and administrative expenses were $170,000. There was no beginning inventory. Assume that direct labor is a variable cost.
Use the indirect method to compute cash flow from operating activities.
The beginning work in process inventory was $20,000 and the ending work in process inventory was $11,000, What was the cost of goods manufactured for the month?
Phoenix Company's 2013 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units.
holly company invests its excess cash in marketable securities. at the beginning of 2010 it had the following portfolio
Toni is relying on financial feedback, and the product costing method adopted by the large bakery. What are the strengths and weaknesses of these approaches?
inc. as discussed in the chapter opener uses a costing system with standard costs for direct materials direct labor and
Find the contribution margin per haircut. Assume that the barbers compensation is a fixed cost and what will be the operating income if 20,000 haircuts are performed?
Burlington Clock Works manufactures fine, handcrafted clocks. The firm uses a job-order costing system, and manufacturing overhead is applied on the basis of direct-labor hours.
silver company makes a product that is very popular as a mothers day gift. thus peak sales occur in may of each year as
The accounting records for Frankie's Fixtures report the following production costs for the past year:
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