Reference no: EM132964691
Question - For the FY 2018, Frederick Company had net sales of $1 100 000 and net income of $75 000, paid income taxes of $25 000, and had before tax interest expense of $17 500. Use this information to determine the Times Interest Earned Ratio. Round your answers to one decimal place.
On June 1, 2019 Adelphi Corporation issued $200 000 of 6%, 10-year bonds. The bonds which were issued at 95, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. Enter as a whole number (no cents).
Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows:
Direct material of 5,50 yards at $5,40 per yard
Direct labor of 2,50 hours at $18,00 per hour
Overhead applied per sleeping bag at $17,00
In the month of April, the company actually produced 5,200 sleeping bags using 27,300 yards of material at a cost of $5,30 per yard. The labor used was 11,700 hours at an average rate of $17,50 per hour. The actual overhead spending was $96,200.
Determine the labor rate variance and round to the nearest whole dollar. Enter a favorable variance as a positive number. Enter an unfavorable variance as a negative number. Enter as a whole number (no cents).
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