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Problem 1: During the year, Factory A actually produced 10,000 units, used 20,000 direct labour hours and incurred variable overhead of $90,000. The budgeted variable overhead for the year was $88,000 and the standard variable overhead rate is $4.00 per direct labour hour. Which one of the following is the variable overhead spending variance?
Select one:
a. $4,000 unfavourableb. $6,000 unfavourablec. $2,000 unfavourabled. $10,000 unfavourable
Close revenue accounts.
Assume the equity method is applied. Compute Bell's income from Demers for the year ended December 31, 2008.
Prepare the journal entries to reflect expiration of the insurance and correctly report the balance of the Supplies account
The ledger of Salizar Company at the end of the current year shows Accounts Receivable $110,000, Sales $840,000, and Sales Returns and Allowances $40,000.
Leigh of New York sells its products to customers in the United States and the United Kingdom. On December 16, 2013, Leigh sold merchandise on credit to Bronson Ltd. of London at a price of 28,000 pounds.
Taite Moneybags and his business colleague Aramis Lotsamoney are residents of the UK for tax purposes. They have approached you, as their tax advisor.
Suppose the government decides to increase taxes by $30 billion in order to increase SocialSecurity benefits by the same amount. How will this combined tax-transfer policy affect aggregatedemand at current prices?
Payroll Tax Entries Below is a payroll sheet for Otis Import Company for the month of September2010. The company is allowed a 1% unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7,000..
Professional Guidance. A challenge facing auditors is the wide array of professional guidance available to them in the audits of different types of entities.
Georgia Lazenby believes a current liability is a debt that can be expected to be paid in one year. Is Georgia correct? Explain.
On March 3, Hinckley Appliances sells $580,000 of its receivables to Marsh Factors Inc. Marsh Factors assesses a finance charge of 3% of the amount of receivables sold. Prepare the entry on Hinckley Appliances' books to record the sale of the rece..
Decompose Tesla's ROE for the annual periods 2012-2014. Note any trends you observe. Comment on the quality of Tesla's earnings.
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