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Actual production and sales were 62,900 coffee mugs, actual direct materials usage was 10,000 lbs. at an actual price of $0.17 per lb., actual direct labor usage was 202,000 minutes at a total cost of $30,300, actual overhead cost was $10,000 variable and $30,500 fixed, marketing and administrative costs were $115,000.
Compute the price and efficiency variances for direct materials and direct labor. Journalize the usage of direct materials and the assignment of direct labor, including the related variances. For manufacturing overhead, compute the variable overhead spending and efficiency variances and the fixed overhead spending and volume variances. Journalize the actual manufacturing overhead and the applied manufacturing overhead. Journalize the movement of all production from WIP. Journalize the closing of the manufacturing overhead account. Also, Java intentionally hired more skilled workers in July, how did this decision affect the cost variances? Overall, was the decision wise?
Please give a 4-6 page with references about the information attached. This information will be employed as informative guidance to assist me completing the work prescribed. In particular analyzing and explaining financials.
The three product cost elements?direct materials, direct labor, and overhead? Flow through job order costing system in structured, orderly fashion. Specific accounts and subsidiary ledgers are employed to verify and record cost information.
Determine the predetermined overhead rate. Determine the amount of overhead applied during the year. Was overhead overapplied or underapplied? How much?
Calculate the total contribution margin for 2000 and contribution margin percentage. Describe why the contribution margin differs from the gross margin.
Burlington Clock Works manufactures fine, handcrafted clocks. The firm uses a job-order costing system, and manufacturing overhead is applied on the basis of direct-labor hours.
Prepare Photo Artistry Company's master budget for 2014 by completing the schedules Prepare a memo for Photo Artistry Company identifying issues that management should consider in order to improve the profitability of the company; provide some r..
With possibility that the US Congress will relax restrictions on cutting old growth, a local lumber company is considering expanding its facilities. They can sell the lumber for .18 a board foot. The tax rate for company is 30%. The company has th..
Supposing you would like to purchase the new car next year, develop the personal budget for yourself or a friend for this year. Make sure to comp,rise a savings plan to save enough for the down payment, taxes, license, and insurance.
What would you include in a job description for a new cashier? How about a sales person? What is included on your job description? Are there functions you perform that are not in your job description?
Suppose you're a field marketing professional, responsible for marketing your company's products in South Florida region of medium-size corporation. One day you receive the CD from your corporate marketing group (based in Detroit, Michigan) which ..
For what is cost-volume-profit (CVP) analysis used? What are some of the key underlying assumptions that make CVP analysis useful for decision makers? Why might decision makers use CVP analysis?
Write down the main components of cost-volume-profit (CVP) analysis. How does a CVP income statement aid management make decisions?
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