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The following data are the actual results for Marvelous Marshmallow Company for October. Actual output ................................................................................................................................. 9,000 cases Actual variable overhead ................................................................................................................ $405,000 Actual fixed overhead ..................................................................................................................... $122,000 Actual machine time ...................................................................................................................... 40,500 machine hours Standard cost and budget information for Marvelous Marshmallow Company follows: Standard variable-overhead rate .................................................................................... $9.00 per machine hour Standard quantity of machine hours ............................................................................... 4 hours per case of marshmallows Budgeted fixed overhead ............................................................................................... $120,000 per month Budgeted output ........................................................................................................... 10,000 cases per month Required: 1. Use any of the methods explained in the chapter to compute the following variances. Indicate whether each variance is favorable or unfavorable, where appropriate.
a. Variable-overhead spending variance. b. Variable-overhead efficiency variance. c. Fixed-overhead budget variance. d. Fixed-overhead volume variance. 2. Build a spreadsheet: Construct an Excel spreadsheet to solve the preceding requirement. Show how the solution will change if the following information changes: actual output was 9,100 cases, and actual variable overhead was $395,000.
Derivative accounting: What are the disclosure requirements for traditional and derivative financial instruments? Should companies disclose if such instruments are used for hedging or speculation? Why?
On January 1, 2015, Day Corp. entered into a 10-year lease agreement with Ward, Inc. for industrial equipment. Annual lease payments of $10,000 are payable at the end of each year. Day knows that the lessor expects a 10 percent return on the l..
haywood company sells a single product with a contribution margin of 5 per unit fixed costs of 74400 and sales for the
Dublin Co. holds a 30% stake in Club Co. which was purchased in 2011 at a cost of $3,000,000. After applying the equity method, the Investment in Club Co. account has a balance of $3,040,000. At December 31, 2011 the fair value of the investment i..
Why would users want to see cash flows broken out into three parts (operating, investing, and financing)? What's the purpose of this structure?
What are some methods a business uses to determine if the activity is value added or not? How do you think business learn from customers (consumers) what is value added and what is not value added?
polk company builds custom fishing lures for sporting goods stores. in its first year of operations 2012 the company
Discuss the major weakness of performance report. Describe clearly why all the variances for variable expenses are unfavourable (U).
Explain the general rules and accounting treatments for the parent and subsidiary, including purchase price allocations; intangible assets, such as goodwill and impairment testing; intercompany transactions, such as payables, receivables, revenues..
An entity that is a franchiser in the quick-service restaurant business also operates company-owned restaurants that are unprofitable in a certain region and, as a result, the entity decides to exit both the quick-service business as well as the c..
What are the right formula's for interest rate on long term debt, par value of common stock, and dividend policy?
Sandy Williams, another customer,came in to have her camera evaluated for repairs and paid $25. She decided not to have the camera fixed when she learned that it would cost $175 to fix her camera.
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