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Degrees, Inc., a manufacturer of frozen food, began operations on July 1 of the current year. During this time, the company produced 140,000 units and sold 140,000 units at a sales price of $125 per unit. Cost information for this period is shown below.
Production costs:
Direct Materials: 13.00 per unit Direct Labor: 6.00 per unit Variable Overhead: 2,100,000 in total Fixed Overhead: 3,220,000 in total Non-production costs Variable Selling & Administrative: 91,000 in total Fixed selling & Administrative: 458,000 in total
a.) Prepare 32 degree's December 31st income statement for current year under variable costing.
Actual overhead for June was $15,800 variable and $9,100 fixed, and standard hours allowed for the product produced in June was 3,000 hours. The total overhead variance is?
Which of the following is generally considered to be a major reason for establishing an internal audit function?
Its estimated grossprofit on sales was 30%. On November 30, the store was destroyed by fire. What was the value of the merchandise inventory loss?
how can a country's tax system affect the manner in which an operation in that country is financed by a foreign investor?
In taking a physical inventory on December 31, Jensen counted all goods on hand and priced the inventory on the basis of average cost. The total amount was $600,000. No goods in transit were included in this figure.
Let's talk about donated services. Clearly unique to nonprofits (well, I've never heard of anyone willingly donating their time and efforts to General Motors, but I guess it's possible) - What does FASB say about donated services?
Write a report to the president of an airline recommending the use of functional measures of performance. Include specific examples of how they can be used to improve performance.
a firm offers terms of 335 net 50. currently two-thirds of all customers take advantage of the trade discount the
reichenbach co. organized in 2011 has set up a single account for all intangible assets. the following summary
On June 30, 2012, Carmack Company concludes that a customer's $3,750 receivable(created in 2011) is uncollectible and that the account should be written off. What effect will this action have on Carmack's 2012 net income? Explain.
A university's meal plan for students provides that 40% of a student's meal fee is made available to the student to purchase food at "cost." At the end of the term, the student receives a refund for any of this amount that has not been spent. The ..
from the following information for alfred industries compute the overhead spending variance and the volume
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