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Question - Carpenter Company uses standard costing. The company has a manufacturing plant in Georgia. Standard labour-hours per unit are 0.50, and the variable overhead rate for the Georgia plant is $3.50 per direct labour-hour. Fixed overhead for the Georgia plant is budgeted at $1,800,000 for the year. Firm management has always used variance analysis as a performance measure for the plant. Tom Saban has just been hired as a new controller for Carpenter Company. Tom is good friends with the Georgia plant manager and wants him to get a favourable review. Tom decides to underestimate production, and budgets annual output of 1,200,000 units. His explanation for this is that the economy is slowing and sales are likely to decrease. At the end of the year, the plant reported the following actual results: output of 1,500,000 using 760.000 labour-hours in total, at a cost of $2,700,000 in variable overhead and $1,850,000 in fixed overhead. Briefly answer the following questions (and then respond to at least two of your classmates):
1. Did Tom Saban's attempt to make his friend, the plant manager, look better work?
2. Why or why not?
3. What do you think of Tom Saban's behaviour overall?
On January 1 of Year 1, Drum Line Airways issued $3,750,000 of par value bonds for $3,440,000. The bonds pay interest semiannually on January 1 and July 1. The contract rate of interest is 8% while the market rate of interest for similar bonds..
Cash flows from investing and financing activities are reported in the same manner under the indirect and direct methods of the statement of cash flows.
Calculate its Net Present Value? You are given the option of receiving it in 5 years into the future. Say that you were promised an amount of money.
If the proposal is accepted and sales remain at the current level, what will the income or loss from operations be for the following year
question 1 abc company uses a job-order costing system. direct materials and direct labor are traced to jobs.
Walsh Company manufactures, Reconcile the difference between variable costing and absorption costing net operating income in year 1 and year 2.
Limon Corporation is considering a project that would require an initial investment of $580,000 and would last for 8 years. Determine the payback period
Units produced in Year 1 23,000 units. Calculate the product cost per unit for Year 1 and Year 2, under the Absorption Costing System
Prepare flexible budget for the production and sale of 1,060 units. Assume that in October 2019 the Schmidt Machinery Company manufactured
Show what makes a contribution income statement unique and discuss how a contribution income statement could be used to improve planning in a company.
How much would the company's net operating income increase if Minneapolis increased its sales by $75,000 per year? Assume no change in cost behavior patterns.
If Anna strongly believes that inflation will rise by 1% during the next six months, what is the most she should pay for the bond, assuming annual interest?
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