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Kibodeaux Corporation makes a product with the following standard costs:
The company budgeted for production of 3,300 units in June, but actual production was 3,550 units. The company used 34,435 liters of direct material and 337 direct labor-hours to produce this output. The company purchased 35,640 liters of the direct material at $4.80 per liter. The actual direct labor rate was $24.20 per hour and the actual variable overhead rate was $4.20 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.
The labor rate variance for June is?
Determing ending inventory, cost of goods sold under FIFO, LIFO and Average. Which cost flow method results in lowest inventory amount for the balance sheet, and the lowest cost of goods sold for the income statement.
Determine the weighted average number of shares outstanding - Corporation Q engaged in the following stock transaction during 19A:
Analysts use the quick ratio (also known as the acid test ratio) and the current ratio. The use of both ratios has become common because
as a financial adviser to individual investors your boss has asked you to write a memo to him so that he can recommend
The substitutability of a particular good/service can play havoc on a company's sales. This is formally defined as elasticity of a good/service. The elasticity/substitutability changes for 4 reasons. The 4 reasons are stated below, briefly describ..
On January 1, 2012, Skyline Limousine Co. purchased a limo at an acquisition cost of $28,000. The vehicle has been depreciated by the straight-line method using a 4-year service life and a $4,000 salvage value. The company's fiscal year ends on De..
The replacement of a machine immediately prior to the close of the current fiscal year at a cost 20% above the original cost of the replaced machine. The new machine will perform the same function as the old machine that was sold for its book valu..
The third generally accepted standard of audit fieldwork requires that auditors obtain sufficient, competent audit evidence to afford a reasonable basis for an opinion regarding the financial statements under examination.
What is the materials price variance for the month and what is the materials quantity variance for the month
machinery purchased for 60000 by tom brady co. in 2003 was originally estimated to have a life of 8 years with a
Ron's Hot Rod Shop follows the revenue recognition principle. Ron services a car on July 31. The customer picks up the vehicle on August 1 and mails the payment to Ron on August 5. Ron receives the check in the mail on August 6. When should Ron sh..
Determine the impact that the Act had on that particular issue, on accountants and auditors, and on stakeholders.
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