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What is the total static-budget variance? A. $5,200 favorable b. $3,320 favorable c. $1,880 unfavorable d. $1,880 favorable 250. _______________ is a carefully predetermined amount usually expressed on a per-unit basis. A. Variable marketing overhead b. A benchmark c. A standard d. Fixed factory overhead 251. Anything for which a separate measurement of costs is desired is a a. cost item. B. cost object. C. fixed cost item. D. variable cost object.
Spectre Chemicals produces Zaloff in a two department process. Information on the two departments for March and April, 2011 are as follows
Sue Co. has a probable loss that can only be reasonably estimated within a range of outcomes. No single amount within the range is a better estimate than any other amount. The loss accrual should be:
The ledger of JFK, Inc. shows common stock, common treasury stock, and no preferred stock. For this company, the formula for computing book value per share is?
One of your wealthy clients, Cecile, invests $100,000 for sole ownership of an electing S corporation's stock. The corporation is in the process of developing a new food product.
On November 1, Prince Vacuum Company offered special early retirement benefits to those employees who were eligible. This program was in effect until year-end. Prince should recognize a liability and an expense related to these special termination..
It is sometimes said that in debt service funds, the accounting for interest revenue is inconsistent with that for interest expenditure. Explain. What is the rationale for this seeming inconsistency?
Compute the unit variable cost and the contribution margin per unit. If fixed costs are $2750.00 per month. What is the break-even point in units?
You have been asked to speak at a career fair for high school students in your home town. Specifically, you are making a presentation about your role as an accountant.
Prepare the 2009 journal entries for all of the following transactions and adjustments. Show full computations. You can ignore dates if not given. Round all amounts to nearest dollar.
Evaluate the effectiveness of the PCAOB's oversight related to both corporate management's and a certified public accountant for addressing a material weakness in internal controls
a) Journalize the transaction, events, and closing entries b) Enter the beginning balances in the accounts, and post to the stockholders' equity accounts c) Prepare a retained earnings statement for the year d) Prepare a stockholders' equity section ..
Gross margin is typically 40% of sales. Determine the budgeted cost of merchandise purchases for July.
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