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How do i calculated a planing budget? Direct materials: 6 pounds at $9 per pound $ 54 Direct labor: 3 hours at $15 per hour 45 Variable overhead: 3 hours at $5 per hour 15 Total standard cost per unit $ 114 The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 25,000 units and incurred the following costs:
a. Purchased 180,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production.
b. Direct laborers worked 61,000 hours at a rate of $16 per hour.
c. Total variable manufacturing overhead for the month was $306,220.
In Rooney Company, direct labor is $20 per hour. The company expects to operate at 10,000 direct labor hours each month. Prepare a static budget report
Multiple Choice Questions (Enter your answers on the enclosed answer sheet) Anytime an owner removes any asset for personal use it is recorded as:
Spoilage, journal entries. Plastique produces parts for use in various industries. Plastique uses a job-costing system.
(Interest expense adjustments for government-wide financial statements (GWFSs)) Thomas County pays all the debt service on its long-term general obligation.
Fungus Audio Works Inc. warrants its products for one year. The estimated product warranty is 3% of sales. Assume that sales were $680,000 for January. In February, a customer received warranty repairs requiring $4,200 of parts.a. Determine the warra..
Cash dividends paid by a corporation: a. reduces the net income of the corporation that declared the dividend. b. reduces the retained earnings of the corporation that declared the dividend.
Assume that retained earnings increased by $240,000 from December 31, 2005, to December 31, 2006, for Miller Corporation. During the year, a cash dividend of $140,000 was paid.
Using the predetermined overhead rate per machine hour, determine the manufacturing overhead applied to Work-in-Process during February
Fraudulent Behavior
Determine the taxpayer's gross income for tax purposed in each of the following situations:
suppose rhm is expected to pay the total cash dividend of 5.60 next year and its dividends are expected to grow at the
Develop a revenue recognition policy consistent with IAS 18 for The Miller-Porter company for its sales of power coating equipment
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