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Problem
Oddo Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 3.0 ounces $7.10 per ounce $21.30 Direct labor 0.6 hours $21.00 per hour $12.60 Variable overhead 0.6 hours $6.00 per hour $3.60 The company reported the following results concerning this product in December. Originally budgeted output 4,410 units Actual output 4,210 units Raw materials used in production 13,000 ounces Actual direct labor-hours 2,896 hours Purchases of raw materials 14,690 ounces Actual price of raw materials $6.90 per ounce Actual direct labor rate $18.40 per hour Actual variable overhead rate $6.10 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. What is the variable overhead efficiency variance for December?
The company has 40,000 machine hours available for production. What sales mix will maximize profits?
Prepare Gold City's General Fund (GF) (only) general ledger control account journal entries in professional form, for the independent events
Prepare the journal entries for the eight following transactions. Use dates but descriptions are not required. On 10/1/15, Equipment was purchased for $10,000 cash down payment and a 10% per annum promissory note of $40,000.
A company using the perpetual inventory system purchased inventory worth
If 12,000 units were completed and transferred out of the process during the month, how many units were started into production during the month
Briefly discuss the proper accounting treatment for Fleahead Corp. Prepare any necessary journal entry (omit explanations)
bull porter corporation reported the following transactions for 2011 1. sold equipment for 7000. the original cost was
The bonds were issued for $817,860 cash, which provided the holders an annual yield of 8%. What is the amount of the semi-annual interest expense?
If management insists on financial statement disclosures that the auditor finds unacceptable, the auditor can:?Issue an adverse audit report; Issue a qualified audit report?**Yes; Yes?No; No?Yes; No?No; Yes
Merle Hawkins, the president of Pathway Company, is pleased. Pathway substantially increased its net income in 2017 while keeping its unit inventory relatively.
a popular product of loring glassworks is a hand-decorated vase. the companys standard cost system calls for .75 hours
The loan is to be repaid in four equal year-end installments. What amount of interest revenue should be recognized by the bank for the second year of the loan?
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