User Account

All Pages

Wales company purchased at a cost of 16089 and used 3100

Assignment Help Accounting Basics
Reference no: EM13581152

Wales Company purchased (at a cost of $16,089) and used 3,100 pounds of materials during May. Wales's standard cost of materials per unit produced is based on 2.50 pounds per unit at a cost $5.30 per pound. Production in May was 1,180 units.

Compute the total, price, and quantity variances for materials.

Total Materials Variance
$
Materials Price Variance
$
Materials Quantity Variance
$

Reference no: EM13581152

Questions Cloud

Outdoor outfitters has created a flexible budget for the : outdoor outfitters has created a flexible budget for the 70000-unit and the 80000-unit levels of activity as shown
Orwell company accumulates the following adjustment data at : orwell company accumulates the following adjustment data at december 311. service provided but not recorded total
When the financial vice president determines that early : when the fasb financial accounting standards board issues new standards the implementation date is usually 12 months
Ashton martin is a student who plans to attend : ashton martin is a student who plans to attend approximately four professional events a year at her college. each event
Wales company purchased at a cost of 16089 and used 3100 : wales company purchased at a cost of 16089 and used 3100 pounds of materials during may. waless standard cost of
O january 20 2011 tamira nelson the accountant for picton : on january 20 2011 tamira nelson the accountant for picton enterprises is feeling pressure to complete the annual
Assume susie levitt and katie shea of cityslips plan on : assume susie levitt and katie shea of cityslips plan on expanding their business to accommodate more product lines.
Despero cheese company has developed a new cheese slicer : despero cheese company has developed a new cheese slicer called thin slicer. the company plans to sell this slicer
Madison thorne works in a public accounting firm and hopes : madison thorne works in a public accounting firm and hopes to eventually be a partner. the management of allnet company

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determining break-even point in dollars

Fields Corporation has two divisions; Sporting Goods and Sports Gear. The sales mix is 65% for Sporting Goods and 35% for Sports Gear. Fields incurs $2,220,000 in fixed costs. The contribution margin ratio for Sporting Goods is 30%, while for Spor..

  Relevant to decesion about obsolete parts

The part would be sold for $7000 or modified for $10000 and sold for 20300. Which of data is relevant to the decesion about the obsolete parts?

  Bank loan and the note issued against balance of debentures

What will be the entry of Company further issued 1000 ordinary shares at rs.10 each against cash. the cash so received is utilized in paying bank loan and the note issued against balance of debentures.

  Conditions for cash dividend payment

Why must preferred stock dividends be subtracted from net income in computing earnings per share? Why is common stock usually not issued at a price that is less than par value?

  What are purchase discounts

What are the two methods for accounting for purchase discounts?

  The preferred stock is noncumulative and is participating

9preferred dividends martinez companys ledger shows the following balances on december 31 2012.5 preferred stock-10 par

  Prepare a schedule to determine whether at the end of 2013

on january 1 2009 vallahara company purchased machinery for 650000 which it installed in a rented factory. it is

  Merchandise inventory balance

The accountant for the Orion Sales Company is preparing the income statement for 2007 and the balance sheet at December 31, 2007. Orion uses the periodic inventory system. The January 1, 2007 merchandise inventory balance will appear:

  What are the companys marginal and average tax rates

The Talley Corporation had a taxable income of $365,000 from operations after all operating costs but before (1) interest charges of $50,000, (2) dividends received of $15,000, (3) dividends paid of $25,000, and (4) income taxes. What are the firm..

  Determine the amount of the proceeds

Determine the number of days in the discount period, determine the amount of the discount and determine the amount of the proceeds.

  Prepare a multiple-step income statement

Presented below is information for Jorge Company for the month of March 2012.

  Total cash dividends related problem

Norton's outstanding stock consists of (a) 13,000 shares of noncumulative 8% preferred stock with a $10 par value and (b) 32,500 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and pai..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd