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!
Question - XO-20 is an oil-based product used to remove rust on bolts and nuts that are stuck. Its accounting system uses standard costs. The standards per 0.5-liter can of solution call for 0.75 liters of material and 4 hours of labor. (0.75 liters of material are needed due to evaporation in the production process.) The standard cost per liter of material is $2.5. The standard cost per hour for labor is $13.00. Overhead is applied at the rate of $15.375 per can. Expected production is 8,000 cans with fixed overhead per year of $35,000 and variable overhead of $11 per unit (a 0.5-liter can).
During 2015, 7,800 cans were produced; 13,000 liters of material were purchased at a cost of $60,000; 10,100 liters of material were used in production. The cost of direct labor incurred in 2015 was $376,250 based on an average actual wage rate of $11 per hour. Actual overhead for 2015 was $125,000.
Require:
a) Determine the standard cost per unit. Round to the nearest cent.
b) Calculate material, labor and overhead variances.
c) List a possible cause for each variance.
inventory costs are rising which method fifo lifo or weighted average cost results in the highest net income? which
average rate of return cash payback period net present value methodgreat plains railroad inc. is considering acquiring
Understanding Relationships, Incomplete Data, Overhead Analysis Lynwood Company produces surge protectors. To help control costs, Lynwood employs a standard.
What is it about intangible assets that require them to have a separate accounting standard? Do you think the differences in requirements are logical?
we are auditing the sales and collection cycle of a non-profit hospital. Just because it is a non-profit organization, that does not eliminate the need for the auditors to assess risk.
After the end of the reporting period, a contingency comes into existence. Under what circumstances, if any, should the contingency be reported in the financial statements for the period ended?
In the second year, production increased to 19,000 units. Using the units-of-production method, what is the book value of the machine at the end of second year
Any excess consideration transferred over fair value was attributed to goodwill with an indefinite life
A2331 Final Exam- Practice Questions. If you pay for $25.00 for purchase which includes 11% sales tax. How much is the sales tax
Prepare the journal entry to record Walter's unexpected receipt of Janet's payment.
How do investors react to these different audit opinions
What are the components of measuring the economic damages from the loss of household services?
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