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Company material purchases amounted to 5,000 pounds at a price of 7 per pound. Actual costs incurred in the production of 5,000 units were as follows
Total direct labor cost 100,000 @10 per hour
Cost of Material used 70,000The standards for one units of company product are as follows Direct Labor Direct Material - 3 hours required for one unit - 2 pounds of Material required for one unit - Rate 24 per hour - Price 20 per pound Required:
Question a. Compute the following -· Material variance -· Material quantity variance -· Material price variance
Question b. Being an accounting expert, elaborate that how standard costing system facilitates managerial planning, reduction in production costs and decision making. Use your analytical thinking to answer the question
Develop all of your managerial accounting reports. Examples of a few of those reports are the horizontal analyzes, vertical analyzes, and ratios.
John recorded 30,000 hours of data analysis and 100,000 hours of data entry. What are the activity-based rates for each type of direct labor?
Briefly explain the term of conversion ratio and calculate the conversion value of the bond. Calculate the current value of the straight bond.
The Management Accountant of Derby Ltd has produced the following cost estimates relating to the proposal over the next five years: Calculate the transport fleet project - Payback period and net Present Value
Investigate and prepare a detailed, yet succinct report, which demonstrates a thorough review of the extant literature.
The minivan is expected to have a $10,000 salvage value at the end of 10 years. This delivery service is expected to generate net cash inflows of $20,000 per year in each of the 10 years. Apnea's cost of capital is 9%. Calculate the NPV of this in..
What were the equivalent units of production for conversion costs? The data were taken from the accounting records of the Educo Mfg. Co
Explain The effect of occupational fraud and abuse on the company and U.S. governmental oversight of accounting fraud and abuse and its effect on the company
What are the managerial implications (for your firm)? What are the assumption beings made by you? Compute the indicative Cost of Capital?
What are fundamental choices about the size and scope of operations and about technologies employed in delivering products or services to customers.
This is a Harvard Case Study that related to Accounting, mainly to Management Accounting. In this case, Hallstead Jewelers is facing decrease in margin of safety through decrease in sales, compared to last year
On March 31, 2014, Bundy Corporation retired $10,000,000 of bonds, which have a liability balance on March 31, 2014 of 10,500,000, by paying bondholders $9,850,
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