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The following questions are based on the following data: - Direct materials: standard, 5 pounds per unit at $2 per pound - Direct labor: standard, 1/2 hour @ $16 per hour Suppose the following were the actual results for production of 8,500 units: -Direct material: Dominion purchased and used 46,000 pounds at an actual unit price of $1.85 per pound, for an actual total cost of $85,100. -Direct labor: Dominion used 4,125 hours of labor at an actual hourly rate of $16.80 for a total actual cost of $69,300 1.) Compute the price and usage variances for direct labor and direct material. 2.) Suppose the company is organized so that the purchasing manager bears the primary responsibility for purchasing materials, and the production manager is responsible for the use of materials. Assume the same facts as in requirement 1 except that the purchasing manager bought 60,000 pounds of material. This means there is an ending inventory of 14,000 pounds of material. Recompute the material variances.
Maxey company had current and noncurrent liabilities of $50,000 and $150,000, respectively. The company's current assets were $76,000, out of a total asset figure of $424,000. Calculate the company's debt ratio.
the lagrange company had the following budgeted sales for the first half of the current year picture the company is in
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Canyon Escape sells individual tickets for $75 for walking tours of the Grand Canyon. Unit-level cost, including lunch, are $15 per ticket; fixed cost total $200,000 per year
On November 1, 2009, Bug Busters collected $6,000 in advance for three months of service to be provided beginning on that date. It was credited in full to unearned rent revenue. Assuming the accounting year ends December 31, give the adjusting ent..
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Prepare the issuer's journal entry to record the first semiannual interest payment assuming the effective interest method is used.
barstock manufacturing incur costs of 7.50 4.50 variable and 3 fixed in making a sub-assembly part for its finished
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