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Question: 1. Based on predicted production of 12,000 units, a company anticipates $150,000 of fixed costs and $123,000 of variable costs. If the company actually produces 10,000 units, what are the flexible budget amounts of fixed and variable costs?
2. Ten Pro reports the following on one of its products. Compute the direct materials price and quantity variances.
Direct materials standard (4 lbs. @ $2/lb.) . . . . . . . . $8 per finished unit
Actual direct materials used . . . . . . . . . . . . . . . . . . . . 150,000 lbs.
Actual finished units produced . . . . . . . . . . . . . . . . . . 30,000 units
Actual cost of direct materials used . . . . . . . . . . . . . . $267,500
accounting practices for interest expenditures may neither reflect actual economic cost nor mirror those for interest
edwin cortez recently opened his own company. in order to improve the business he will be undertaking the following
Northwood Company manufactures basketballs. The company has a ball that sells for $25. At present, the ball is manufactured in a small plant that relies heavily on direct labor workers. Thus, variable costs are high, totaling $15 per ball.
1.orange company manufactures calculators. during the month 25000 of raw materials were purchased and the warehouse
How would you deal with someone who has embraced that lifestyle if you encounter him or her at your next job and how do you think you might approach work and life differently? Be honest and specific.
Prepare the June 30 entries to close the revenue, expense, income summary, and withdrawal accounts - Prepare the June 30 entries to liquidate the partnership assuming the non-cash assets are sold for $120,000.
Describe the key accounting issue(s) arising from the ET Phone Home contract. Describe two principles from the Conceptual Framework that are relevant to this case.
The firm is liquidated, and $288,000 in cash is received for the noncash assets. Dolson and Meier income ratios are 60% and 40%, respectively. Prepare a cash distribution schedule.
You are an expert in the field of forming partnerships. Daniel Ortman and Sue Stafford want to establish a partnership to start "Pasta Shop,'' and they are going to meet with you to discuss their plans.
sibble corporation is considering the purchase of a machine that would cost 380000 and would last for 6 years. at the
Determine what positive or negative consequences
Assume that for the August 20 payroll, McFriend, Inc. (RE13-3) incurs the following payroll expenses:
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