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Marilee Company produced 6,000 units of product Y, which is 80% of capacity. Each unit required .25 standard machine hours for production. The standard variable factory overhead rate is $5.00/machine hour. The actual variable factory overhead incurred during the period was $8,000. The variable factory overhead variance (controllable)is:
A. $500 favorable
B. $500 unfavorable
C. $1,875 favorable
D. $1,875 unfavorable
Keystone corporation issued its fiunancial statments for the year ended december 312010 on March 102011. The following events took place early 2011. Discuss how the preceeding post balance sheet events shoul be reflkected in the 2010 financial stat..
What happens when a taxpayer experiences a net loss from a rental home?
A corporation had stockholders' equity on January 1 as follows: Common Stock, $5 par value, 1,000,000 shares authorized, 500,000 shares issued; Contributed Capital in Excess of Par Value, Common Stock, $1,000,000; Retained Earnings, $3,000,000. Prepa..
The equipment's fair market value is estimated at $180,000 by an outside appraisal. On the date of the exchange, the stock was being actively traded at $17 per share on a major stock exchange. Prepare the necessary journal entry to properly record..
Net income = 400 , net opening profit after taxes (NOPAT) = 600 , total asset = 2000 and total net operating capital =1800 . the information for the current year is : net income = 900 , net operating profit after taxes (NOPAT)= 800, total assets =..
LaGrange Corp. has forecasted that over the next four years the average annual after-tax income will be $45,731. The average book value of the manufacturing equipment that is used is $167,095. What is the accounting rate of return?
what is the 2011 AMT adjustment requiered as a result of the sale of the assets?
For 2009, PMD Inc. had set the following standards for production of metal tables: 35 pounds of iron at a standard cost of $2.60 per pound. During June the company produced 300 tables. The company bought 10, 625 pounds of iron at a cost of $25,500..
Assume the following adjustment data. 1. Advertising supplies on hand at 31 October total $1 000. 2. Expired insurance for the month is $100. 3. Depreciation for the month is $50.
Select a sample of accounts payable for confirmation, emphasizing vendors with a large balance and those that the client transacts with frequently, but include several with small and zero balances.
Net income is $29,000. Beginning capital balance was $34,000. Ending capital balance was $55,000. No capital contributions were made by the owner during the year. What amount of drawings was made?
The balance in the equipment account is $904,000, and the balance in the accumulated depreciation-equipment account is $316,400.
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