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Total production of 1,000 units of finished goods required 3,000 actual parts at $2.25 per part. The standard is 2.9 parts per unit of finished goods, at a standard price of $2.30 per part. Which of the following statements is true?
A. The materials price variance is $150 favorable.
B. The materials price variance is $145 unfavorable.
C. The materials quantity variance is $225 favorable.
D. The materials quantity variance is $225 unfavorable.
E. None of these.
Compute the total fixed overhead cost that was originally budgeted and compute the denominator activity figure that the company used in computing predetermined overhead rates.
Bent Inc. had credit sales of $675,000 for March. Accounts receivable of $6,000 were determined to be worthless and were written off during March. Assuming they use the direct write off methos of accounting for uncollectable accounts, uncollectible ..
As sales manager, Terry Dewitt was given the following static budget report for selling expenses in the Clothing Department of Garber Company for the month of October.
Variable costs are allocated based on the budgeted rate per copy times the department's actual usage. Which of the following is not an advantage of this allocation scheme over allocating actual costs based on actual usage?
WebHelper Inc. acquired 100% of the outstanding stock of Silicon Chips Corporation (SCC) for $45 million, of which $15 million was allocated to goodwill. At the end of the current fiscal year, an impairment test revealed the following: fair value of ..
What is the difference between Accounts payable and Bills payable, Accounts receivable and Bills receivable?
question 1 capital expenditure decisions and investment criteria - morten ltdin recent years morten ltd a company that
What is maximum amount KewCo would be willing to pay for this new product line today?
During 2015, Michael Company applied overhead using a job-order costing system at a rate of $15 per direct labor hours. Estimated direct labor hours for the year were 150,000, and estimated overhead for the year was $2,250,000. Actual direct labor ho..
Accounts receivable less allowance for bad debts of $9,500 and $17,900 for 1999 and 1998 respectively and Kinkos wrote off $10,650 of receivables as bad debts during 1999. What amount of bad debt expense was recognized for the year 1999?
Assume that a radiologist group practice has the following cost structure: What is the group’s base projected P&L statement? What volume is required to provide a pretax profit of $ 100,000? Pretax profit of $200,000?
Oscar Corp. applies manufacturing overhead to production at 150% of direct labor cost. During 20x5, manufacturing overhead of $180,000 was applied to production; actual manufacturing overhead was $199,000.
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