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Question - At Covington, the standard price for the M640 electrical relay (a component used in the production of a commercial refrigeration unit) is $55. Standards call for3.0relays per unit of finished product. In July, the company purchased 140 relays for $7,840. The company used 106 relays in the production of 53 refrigeration units (4 relays were damaged in the installation process).
Required - Calculate the material price variance and the material quantity variance related to the M640 electrical relay. Indicate whether the variances are favorable or unfavorable.
Compute the weighted-average number of shares outstanding if the 27,000 shares were issued for cash
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Assume a Tiger Sports outlet store began July 20, 2012 with 40 pairs of running shoes that cost the store $ 32 each. The sale price of these shoes was $66. During July, the store completed these inventory transactions.
(Journal entries-emphasis on budgetary entries and statements) The Central Think Tank (CTT) receives a separate appropriation from Congress for the acquisition.
management of a cellular phone company learns that a new technological advance will occur within the next year that
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Assume, instead, that Hammond Corp. decides to retire the bonds early, on January 1, 2022, by paying cash of $3,306,000 to the bondholders.
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