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Question - Cirilla's Weathervane Company manufactures weathervanes. The current year operating budget is based on the production of 9,500 weathervanes with 1.20 machine-hour allowed per weathervane. Variable manufacturing overhead is anticipated to be $280,000.
Actual production was 12,000 weathervanes using 12,500 machine-hours. Actual variable costs were $23.50 per machine-hour.
Required - Calculate the variable overhead rate and the efficiency variances.
Sweet baby diaper company sells disposable diapers for $.20 each. Prepare a flexible budget for volumes $800,000 diapers
Give some examples of manufacturing processes that would fit into each of the three different types of production processes: continuous processing, batch processing, and custom made to order.
When are profits from intercompany land sales realized?They are realized when an agreement is signed with respect to ownership of the land.
What factors should be considered in determining whether investments in securities should be classified as held-to-maturity, available-for-sale, and trading? How do these factors affect the accounting treatment for unrealized losses?
The Harvester Corporation issued 40 shares of $20 par value stock to its accountant. The shares are in full payment for her $900 fee for assistance in setting up the new company. The entry to record the issuance of the stock would include a:
A company's current assets are $150 and its' current liabilities are $100. If the company uses cash to retire notes payable due within one year, would this transaction increase or decrease the current ratio and return on assets ratio?
very briefly describe the following concepts and for each one explain using an example how each concept may cause a
How you advised your client to account for this lease. Explain every journal entry that you believe is necessary to record this lease properly on the client's books.
Explain the use of a quantity schedule. Who gives us the information regarding the percentage of units completed in a department
About 74% of Freddie Mac-owned loans were refinanced in the second quarter of 2005 (USA Today, Lifeline, August 3, 2005), resulting in new mortgages carrying loan amounts at least 5% above the original mortgage balance. The median loan refinanced ..
Identify the financial statement[s] where each of the following items appears. Use I for income statement, E for statement of retained earnings, and B for balance sheet.
Evaluation of the AICPA Code of Professional Conduct Provisions. Identify several rules from the rules section and show how they relate to selected principle.
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