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Question - Acme Company's production budget for August is 18,900 units and includes the following component unit costs: direct materials, $7.2; direct labor, $11.4; variable overhead, $5.4. Budgeted fixed overhead is $46,000. Actual production in August was 21,840 units. Actual unit component costs incurred during August include direct materials, $9.60; direct labor, $10.80; variable overhead, $6.20. Actual fixed overhead was $48,900. The standard fixed overhead application rate per unit consists of $2.2 per machine hour and each unit is allowed a standard of 1 hour of machine time. Calculate the fixed overhead budget variance and the fixed overhead volume variance.
Furniture and equipment is depreciated based on a 6-year life (no salvage value). Prepare closing entries and post to the accounts.
On January 1, 2020, Wildhorse Company issued $470,000, 13%, 10-year bonds at face value. Prepare the journal entry to record the issuance of the bonds
Prepare the Net Cash Provided by Operating Activities section, using the above information, using the direct method
Becton Labs, Inc., produces various chemical compounds for industrial use. Compute the variable overhead rate and efficiency variances
Problem - Entries for receipt and dishonor of note receivable - Journalize the following transactions of Frankenstein Productions
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The current controllable margin for Northwest Territories Division is $46,000. What will happen to the return on investment for the division
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Divany purchased $10,000 of goods from a supplier on July 30, 2020, with shipping terms FOB shipping point. At which time the accountant recorded the purchase
What is the difference between change in quantity demanded and change in demand. Please high light the income effect and substitution effect
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