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Westan Corporation uses a predetermined overhead rate of $23.10 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $277,200 of total manufacturing overhead for an estimated activity level of 12,000 direct labor-hours.
The company incurred actual total manufacturing overhead costs of $266,000 and 12,600 total direct labor-hours during the period.
Required:
Determine the amount of manufacturing overhead that would have been applied to all jobs during the period.
Elaine provides more than half of the support for her son James, who does NOT live with her. James is 26 and is a full-time law student. He earns $2,000 from a part-time job. He has a $11,000 scholarship covering his tuition.
Prepare the perpetual inventory schedule for the above transactions using (1) FIFO, (2) LIFO, and (3) average-cost. (If there is no entry, enter 0 for the amount. Round the unit average-cost to 2 decimal places. Round answers to 2 decimal places.)
Innova also incurs 5% sales commission ($0.35) on each disc sold. Mudd Corporation offers Innova $4.75 per disc for 5,000 discs. Mudd would sell the discs under its own brand name in foreign markets not yet served by Innova.
David organize white Corporation with a transfer of land (basis of $200,00, fair market value of $600,000) that is subject to a mortgage of $150,000. A month before the incorporation, David borrowed $100,000 for personal purpose and gave the bank ..
What is the total direct material price variance for November when standard price is $1.80, actual price is $1.90 and actual quantity used is 142500?
Sand Soap Company management is analyzing the company's standard cost variances for direct materials for the most recent period. The following information was available from company records.
MBA 640 Exam 1, Spring 1, 2014, Determine the net income for the month of December and for the month of June.
Lechter Co. is preparing to issue stock. Its revenues for last year were $85,000,000, and it had $52,000,000 in stock held by nonaffiliates.
Assuming that the company's tax rate is 30%, what amount will be reported for this loss on the income statement?
Would each of the following increase, decrease, or have an indeterminant effect on a firm's breakeven point (unit sales)?
Calculate Alexandra's maximum depreciation deduction for 2011 for the computer, assuming she doesn't make the election to expense or take bonus depreciation.
Policies regarding when a difference between actual and planned results should be investigated are generally more restrictive for non controllable items than for controllable items.
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