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Variance Problem - ABC Company produces the fuzzy bear which is a stuffed animal with 99 percent natural fibers.
Each fuzzy bear requires a standard of four square yards of cotton cloth. The standard price is $1.00 per square yard. ABC manufactured 1,000 fuzzy bears in October. The company purchased 4,100 of cloth and paid $1.05 per square of cloth. The company used 4,020 yards of cloth in the production of 1,000 fuzzy bears.
1. What is the material price variance? Is the variance favorable or unfavorable?
2. What is the material quantity variance? Is the variance favorable or unfavorable?
army-navy surplus began march with 70 tents that cost 20 each. during the month amy-navy surplus made the following
McBride Medical had a cash balance of $7,000 on January 1. The company desires to maintain a cash cushion of $5,000. Funds are assumed to be borrowed, in the increments of McBride pays its vendor on the last day of the month also. The company had ..
The interest is computed based on the beginning balance of the loan for the month. The company has a cash balance of $20,000 and a loan balance of $40,000 at January 1. Prepare monthly cash budgets for each of the first three months of next year.
ED Products Corp. chooses to process the butter further into spreadable butter by mixing it with canola oil, incurring an additional cost of $1.60 per pound. This process results in two tubs of spreadable butter for each pound of butter processed...
Spoiled Baby Corp (SPC) sells baby buggies. Prepare the Journal entries required to create and close the warranty period
Why is it important to establish and monitor credit limits for customers?
the charges to work in process-assembly department for a period together with information concerning production are as
Accounting for R&D Costs during 2008, Robin Wright Tool Company purchased a building site for its proposed research and development laboratory at a cost of $60,000.
consider an industry facing fundamental technology change e.g. fixed-point telecommunications and internet protocols
Several years ago, Joy acquired a passive activity. Until 2004, the activity was profitable. How much is Joy's suspended passive loss at the beginning of 2008
You have been hired as an executive director of a small nonprofit organization. Among your many duties are to determine an annual budget and develop a fiscal plan for the organization.
gruden company produces golf discs which it normally sells to retailers for 7.09 each. the cost of manufacturing 18600
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