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Direct Materials Variances
I-Time, Inc., produces electronic timepieces. The company uses mini-LCD displays for its products. Each timepiece uses one display. The company produced 470 timepieces during October. However, due to LCD defects, the company actually used 490 LCD displays during October. Each display has a standard cost of $6.50. The company purchased 490 LCD displays for October production at a cost of $2,820.
Determine the price variance, quantity variance, and total direct materials cost variance for October. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your per unit computations to nearest cent, if required.
an examination of the accounting records of clowney company disclosed a high contribution margin ratio and production
Is Choi's ruling an ethical violation, or is it a legitimate decision in computing depreciation? How will Choi's new depreciation rule affect the profit margin of her business?
Big Co. acquired 1,000 shares of voting stock in Little Co. for $100,000 cash. Little Co. currently has 10,000 shares of voting stock issued and outstanding. Little Co.'s shares are trading at $115 per share. Big Co. subsequently receives a divide..
a company acquired a new high-tech printing press on january 1 2011 for 90000. at that time the company estimated the
The CEO of your company has asked you to prepare a written presentation to be given at the next board of directors meeting on why different types of cost information need to be reported to support different managerial purposes and decisions. In a ..
The county is required to use any accrued interest or premiums for servicing the debt issue. What effect, if any, do interest payments have on the carrying value of the bond issue as reported in the financial statements?
contingent liabilities several months ago reiltz industries inc. experienced a hazardous materials spill at one of its
connecticutinc. had the following long-term receivable account balances atdecember 31 2006. note receivable from sale
On January 1, 2010, the balance in Kubera co.'s Allowance for Bad Debts account was$9720. during the year, a total of $23900 of delinquent account receivable was written off as bad debts, the balance in the allowance for bad debts account at Decem..
Following are the steps in the accounting cycle, arrange the steps in the proper sequence.
a minimum cash balance required by a bank is calledcash in bank.cash equivalent.compensating
kopecky corp. had the following balances in receivable accounts at october 31 2012 in thousands allowance for doubtful
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