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Questions -
Q1. A quantity of a particular raw material was purchased for P43,250. The standard cost of the material was P2.00 per kilogram and there was an unfavorable materials price variance of P3,250. How many kilograms were purchased?
a. 20,000
b. 21,625
c. 23,250
d. 24,875
Q2. The following information relates to ARA Company for the 4th quarter of the current year: Actual Factory overhead, P178,500; FOH rate, P1.50; Budgeted fixed overhead, P110,000; Standard variable overhead rate, P0.50; Spending variance, P8,000 unfavorable; Volume variance, P5,000 favorable. What were the standard hours allowed for good output during the quarter?
a. 105,000
b. 106,667
c. 110,000
d. 115,000
What amount should Riki present for goodwill in its statement of financial position at December 31, 2011, according to IFRS3 Business combinations
During the month of July, stockholders' equity increased by $24,000 and liabilities decreased by $10,000. What is the amount of total assets at the end of July
Merritt Equipment Company sells computers for $1,790 each and also gives each customer a 2-year warranty that requires the company to perform periodic services and to replace defective parts. During 2014, the company sold 850 computers.
Compute the bids for deluxe and regular pillows on a total-order basis. When required round answers to the nearest cent Regular $ Deluxe $.
How would the break-even in units and dollars change if she doesn't increase the selling price and if she does increase the selling price?
Neither business kept complete accounting records and neither business paid out dividends. Moore and Siegman throw together the data at year end - Let's examine a case using Greg's Tunes and another company, Sal's Silly Songs
Explain how the merchandise will be treated on any of the financial statements at year-end. In which year will revenue from the sale be recorded?
Fixed costs 5,500 Operating income $ 9,000 sales reduce to half of the amount in the next month, what is the projected operating income
The Mchenry company purchased a truck for 54,000 on Jan 4, 2010. Paid $275.00 in Feb for oil change Dec 31 record the depreciation on the truck for the fisical year. The estimated useful life of the truck is 8 years witha residual value of $12,000..
Make sure to comment on the type of budget variance (favorable or unfavorable) and explain your reasoning for this variance to occur
The accountant has provided Tupac with the following data to prepare next year's campaign. What is the contribution margin per unit and ratio for 2022
What the production costs backflushed to finished goods during January is? Ethel Company manufactures electric motors for electric fans.
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