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vEasy Roller, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Quantity Standard Price (Rate) Standard Unit Cost Direct costs Plastic 12 sq ft. $ 0.75 per sq. ft. $ 9.00 Direct labor .25 hr. 12.00 per hr. 3.00 Variable manufacturing overhead 1.20 per direct labor hour 0.30 Fixed manufacturing overhead ($360,000/900,000 units) 0.40 Easy Roller had the following actual results for the past year. Number of units produced and sold 1,000,000 Number of square feet of plastic used 11,800,000 Cost of plastic purchased and used $ 8,260,000 Number of labor hours worked 245,000 Direct labor cost $ 2,891,000 Variable overhead cost $ 318,500 Fixed overhead cost $ 355,000 Required: Calculate Easy Roller's variable overhead rate and efficiency variances and its over- or underapplied variable overhead. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Do not round intermediate calculations. Omit the "tiny_mce_markerquot; sign in your response.) Variable overhead rate variance $ (Click to select)NoneFU Variable overhead efficiency variance $ (Click to select)UFNone Total spending variance $ (Click to select)OverappliedUnderapplied.
capital budgeting emphasizes the key role management has in value creation by taking projects and expanding the size of
What is generalized audit software? What are the tasks for which an auditor would use it? What are the advantages and disadvantages of using generalized audit software?
Evaluate taxable income and income taxes payable. Prepare the journal entries for income tax expense, income taxes payable, and deferred taxes.
on march152011birkshire energy obtained a nine-month working capital loan from the first national bank of oglesby. the
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If 16,000 units of materials enter production during the first year of operations, 12,000 of the units are finished, and 4,000 are 75% completed, the number of equivalent units of production would be 15,000.
S. Company exchanged 400 shares of Daily Company common stock, which Herman was holding as an investment, for equipment from West Company. What journal entry should Herman make to record this exchange?
Prepare a Depreciation Expense-Stores Equipment Account and an Accumulated Depreciation-Stores Equipment Account.
ralph googlio started a new security business in august of 2011. the company has been doing well and ralph is
Prepare the journal entry for these transactions under the cost method of accounting for treasury stock.
1.explain why the communication skills and techniquesused within a business unit department are not alwayseffective in
Trent paid cash dividends of $160,000 and thereafter declared and issued a 5% common stock dividend when the market value was $2 per share. Trent's net income for 2010 was $360,000. What is the balance in Agee's investment account at the end of 2010?
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