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HPC, Inc. has developed a standard pricing system for its products. The variable cost standards (based on expected output of 5000 units) are:
In January 20XX, the firm actually produced 5300 units and actual manufacturing costs were as follows:
a. Compute all direct material and direct labor variances. Be sure to note if a variance is favorable (F) or unfavorable (U). Note that you need to consider the # of units actually produced when computing your efficiency variances.
b. Assume that all direct material was purchased on account and those purchases are only recorded at the end of the month. Also assume that the firm uses a standard cost accounting system (with variances recorded). Prepare the journal entry for direct materials purchased during the month.
c. Assume that all direct material used is only recorded at the end of the month. Also assume that the firm uses a standard cost accounting system (with variances recorded). Prepare the journal entry for direct materials used during the month.
Prepare the entry on Rose Companys books to record the sale of merchandise
Trained as a mining engineer, David has developed considerable expertise in the treatment and disposition of waste material. He also is well versed in the federal and state requirements for land reclamation projects
Lupe and Rodrigo, father and son, each own 50% of the stock outstanding of Heron Corporation (Eof $400,000). During the current year, Heron redeems all of Lupe's shares for $250,000. The transaction cannot qualify as a complete termination redempt..
Assuming no other changes, the effect, when moving from the change in fund balances in the governmental funds Statement of Revenues, Expenditures and Changes in Fund Balances to the change in net assets for governmental activities in the Statement..
Lampley, Inc. enters into a direct finance lease agreement as lessor on January 1, 2001, to lease an airplane to National Airlines. The term of the noncancelable lease is eight years and payments are required at the end of each year.
a company purchased the following securities in feb 2012.prior to these purchases the company had investment security
during the month lathers co. received 473550 in cash and paid out 399700 in cash.if the balance of the cash account is
Provide one piece of documentation
you have the following information for company xyz for themonth ended june 30 2007. company xyz uses a periodic method
bill beck bruce beck and barb beck formed the bbb partnership by making capital contributions of 77400 301000 and
a new manufacturing machine is expected to cost 286000 have an eight-year life and a 30000 salvage value. the machine
In your role as the financial manager, you routinely review your firm's financial statements and financial ratios to evaluate the financial health of your company.
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