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Question - Calculating materials and labor variances
Great Fender, which uses a standard cost accounting system, manufactured 20,000 boat fenders during the year, using 144,000 feet of extruded vinyl purchased at $1.05 per square foot. Production required 420 direct labor hours that cost $13.50 per hour. The materials standard was seven feet of vinyl per fender, at a standard cost of $1.10 per square foot. The labor standard was 0.025 direct labor hour per fender, at a standard price of $12.50 per hour.
Requirement - Compute the price and efficiency variances for direct materials and direct labor. Does the pattern of variances suggest Great Fender's managers have been making trade-offs? Explain.
Blue Company sold machinery for $45,000 on December 23, 2010. The machinery had been acquired on April 1, 2008, for $49,000 and its adjusted basis was $14,200. The § 1231 gain, § 1245 recapture gain, and § 1231 loss from this transaction are:
Fee Founders has preferred stock outstanding which pays a dividend of $5 at the end of each year. The preferred stock sells for $60 a share.
Nancy Pinedo and Justin Johnson recently graduated from the same university. After graduation they decided not to seek jobs at established organizations but, rather, to start their own small business hoping they could have more flexibility in thei..
a sporting goods store budgeted august purchases of ski jackets at 14000. the store had ski jackets costing 12000 in
An increase in the market price of men's haircuts, from $15 per haircut to $25 per haircut, What is the short-run price elasticity supply
In taking out a trial balance, a bookkeeper finds that he is out Rs 1600 excess debit. Being desirous of closing his books, heplaces the difference to a newly opened suspense account. In the next period he discovers the following discrepancies.
Topic: International Financial Reporting Standards (IFRS), Please go to the following article published on . Read the article and respond to the following questions. Investigate and write a brief history of the IFRS
montgomery manufacturing inc. sells household appliances to specialty retail stores and large department store chains
The owner of Touring Inc., Mei Chang, is concernedabout the financial management of her company. When she started up Touring Inc., a companythat provides bus.
Fred Graf, owner of Graf Interiors, is negotiating for the purchase of Terrell Galleries. Prepare the entry to record the purchase of Terrell Galleries
at year-end december 31 alvare company estimates its bad debts as 0.40 of its annual credit sales of 945000. alvare
Question - Dividends and Stockholders' Equity Section. Prepare journal entries to record the transactions describe above
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