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Question - The Standard manufacturing corporation uses a standard cost system in accounting for the cost of its only product. The standard cost per unit (based on 10,000 units production) was set up as follows: Direct materials, 10 kgs @ P11/kg.; Direct labor, 8 hours @ P50 per hour; Factory overhead, 8 hours @ P15 per hour. The following data on the operations appear in the company's record for the month of July: Units completed during the month, 8,000 units; units in process at the end of the month, with 100% materials but half completed, 1,000 units; Direct materials used, 95,000 kgs @ P10 per kg; Direct labor, P3,510,000 at a rate of P54; Actual overhead for the month P985,000. Compute the Variable efficiency variance. Indicate whether favorable or unfavorable.
Golf Challenge Corp. is a retail sports store, How does Golf Challenge's use of FIFO improve its net profit margin and current ratio?
Prepare a detailed income statement. Inventory at the beginning of the year was $ 50,000 and at the end of the year was $ 40,000.
a. A contract that will pay in one-year's time 60% of the insurance company's costs on a pro rata basis b. A contract that pays $100 million in one-year's time if losses exceed $200 million.
In 2003, the world beer sales volume increased 2.3% over the previous year, to 1,484 million hectoliters. Consumption in China and other developing countries was the driving force of growth. Increased market saturation slowed the volume growth i..
Morgan earns a salary of $95,000, contributes $5,000 to a traditional IRA, and receives sales proceeds of $15,000 for an RV. Compute Morgan tax liability
what financial information do you think a manager needs to perform hisher job effectively? what different types of
southwestern corporation operates throughout texas buying and selling widgets. to expand into more profitable markets
truman industries is considering an expansion. the necessary equipment would be purchased for 9 million and the
Burton did not notify Wilson of these facts. Two days later when Burton again presented the instrument for payment, Burton was told that Foxx's creditors had filed a petition in bankruptcy that morning. Which of the following statements is true?
Assume that the following data relate to Rosen, Inc. for the year 2015: Compute (a) basic earnings per share, and (b) diluted earnings per share
laid off workers who become entrepreneurs because they cannot find meaningful employment with another company are
What would be the amount of loss (profit) per unit if Garner sells to Cheap at $700 per unit and What is the amount of loss (profit) per unit
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