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Questions -
Q1. The Schlosser Lawn Furniture Company uses 12 meters of aluminum pipe at P0.80 per meter as standard for the production of its Type A lawn chair. During one month's operations, 100,000 meters of the pipe were purchased at P0.78 a meter, and 7,200 chairs were produced using 87,300 meters of pipe. The material's price variance is recognized when materials are purchased.
Required - Calculate an accurate materials price and quantity variances.
Q2. A company has a normal capacity of 100 machines working 8 hours per day of 25 days in a month. The budgeted fixed overheads of a month are P150,000. The Standard time required to manufacture one unit of products is 4 hours. In a particular month, the company worked for 24 days of 750 machine hours per day and produced 4,500 units of the product. The actual fixed overheads incurred were P145,000.
Calculate the following accurately:
a. Efficiency Variance
b. Capacity variance
c. Volume Variance
d. Total Fixed Overhead Variance
Job 101 incurred 1,800 machine hours; Job 102 used 1,200 machine hours. Prepare journal entries to record the transactions for the events
NSF check returned with 4/30 bank statement $940 and Outstanding checks, 4/30 $10,400. What should be the adjusted cash balance at April 30
Bovar Company's management restricted the auditors by not allowing them to audit Overall Manufacturing Company's financial statements. Management changed.
Al is to invest sufficient cash to obtain a 1/3 interest in the partnership. How much Al's investment to the partnership
refers to the degree of social agreement that an act is good or bad
Ellis issues 6.5%, five year bonds dated January 1, 2013, with a $ 250,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $ 255,333. The annual market rate is 6% on the issue date.
TechCo is retail distributor for MZB-33 computer hardware units. Sales forecast for the first six months of 2014 are as follows:
Partner Inc. owns 80% of the shares outstanding of Solo Inc.. Calculate controlling interest in consolidated net income for 2016
A company has beginning inventory of $20,000, purchases of $15,000, and ending inventory of $2,500. Compute the cost of goods available for sale
Imagine that you are advising an investor who is considering purchasing bonds issued by the selected company. Analyze the types of bonds chosen company issues
Compute weighted average beginning equivalent units, ending equivalent units, started & completed equivalent units & cost per unit.
ACC512 - Management Accounting for Costs & Control - explain any potential problems that should be avoided when conducting a relevant cost analysis
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