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Deskins Clothiers is a small company that manufactures tall-men'ssuits. The company has used a standard cost system. In May 2008,11,200 suits were produced. The following standard and actual costdata applied to the month of May when normal capacity was 14,000 direct labor hours. All materials purchased were used.
CostElement
Standard
Overhead is applied on the basis of direct labor hours. Atnormal capacity, budgeted fixed overhead costs were $49,000, andbudgeted variable overhead was $35,000.
(a) Compute the total, price, and quantityvariances for (1) materials and (2) labor
(b) Calculate the manufacuring overhead controllable variance and the manufacturing overhead volume variance as well as the total manufacturing overhead variance.
In a business combination in which the total fair value of the identifiable assets acquired over liabilities assumed is greater than the consideration paid, the excess fair value is:
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Interest was payable semiannually on July 1 and January 1. On July 1, 2011, Goll called all of the bonds and retired them. Bond premium was amortized on a straight-line basis. Before income taxes, Goll's gain or loss in 2011 on this early extingui..
woodgrain technology makes home office furniture from fine hardwoods. the company uses a job-order costing system and
List and describe four potential problems with a "traditional" overhead allocation system. List and describe four "red flags" that may indicate you should consider revising your overhead allocation system.
As part of the initial investment, Omar contributes accounts receivable that had a balance of $25,000 in the accounts of a sole proprietorship. Of this amount, $1,150 is completely worthless. For the remaining accounts, the partnership will establ..
What is the unit cost for the direct materials for 19x1, assuming direct materials cost is for the production of 507,000 units? A. $3.20 b. $3.80 c. $4.00 d. $4.32 128.
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