What situation could have caused these variances

Assignment Help Financial Accounting
Reference no: EM131296180

In reviewing a variance analysis report you note that there was a very favorable materials price variance last month but unfavorable labor and materials efficiency variances. What situation could have caused these variances? What would you do to test your explanation of the variances (what information or questions would you ask)

Reference no: EM131296180

Questions Cloud

What are the similarities and differences between the goal : Specifically, what are the similarities and differences between these goals? Provide an example of how maximizing profits might not lead to shareholder wealth maximization.
What amount of fica taxes does kyle owe for the year : Kyle worked as a free-lance software engineer for the first three months of 2016. During that time, he earned $62,000 of self-employment income. On April 1, 2016, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle..
What is the likely effect on property values : In 2015 the property tax rate in the city of Bloomington, IN was 2.0858%, while the median in Indiana was 1.89%. a. What is the likely effect on property values in Bloomington? b. What would the likely effect be of reducing the property tax rate in B..
What would the budgeted inventory for feburary : The Martinez Company had a finished goods inventory of 55,000 units on Janurary 1. It's projected sales for the next four months were: January - 200,000 units; February - 180,000 units; March - 210,000 units; and April - 230,000 units. The Martinez C..
What situation could have caused these variances : In reviewing a variance analysis report you note that there was a very favorable materials price variance last month but unfavorable labor and materials efficiency variances. What situation could have caused these variances? What would you do to test..
Receive for the child and dependent care credit : Kobe is a single dad with two dependent children, Lizzie, age 7 and Leslie, age 3. He has AGI of $51,000 and paid $6,300 to a qualified day care center. What amount of credit can Kobe receive for the child and dependent care credit?
State income tax return and made estimated payments : Pierre, a cash basis, unmarried taxpayer, had $3,830 of state income tax withheld during 2016. Also in 2016, Pierre paid $958 that was due when he filed his 2015 state income tax return and made estimated payments of $2,681 towards his 2016 state inc..
Common stock is currently selling on stock exchange : Raphael Corporation’s common stock is currently selling on a stock exchange at $165 per share, and its current balance sheet shows the following stockholders’ equity section: Preferred stock—5% cumulative, $___ par value, 1,000 shares authorized, If ..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Discuss and explain the provision of partnership act

In the absence of no agreement in partnership discuss and explain the provision of partnership act

  Statements is known as a snapshot in time

Which of the following statements is known as a "snapshot in time" because the account balances are of a certain date

  What is dominicks earned income credit

Sammie and her two children, ages 8 and 10, lived with her boyfriend, Dominick, for all of 2014. The children are not Dominick’s children but he provided all of their support. He can claim them as dependents because they are not the qualifying childr..

  Compute the net amount of cash received

Presented below are four independent situations. (a) On March 1, 2015, Wilke Co. issued at 104 plus accrued interest $4,218,000, 8% bonds. The bonds are dated January 1, 2015, and pay interest semiannually on July 1 and January 1. In addition, Wilke ..

  Complete optimal solution to linear programming problem

Find the complete optimal solution to this linear programming problem. Graph to show each constraint and the feasible region. Provide graph on separate page. What is the optimal value of the objective function?

  Accounting events-earned cash revenues-paid cash expenses

Majka Company was started on January 1, 2016. During 2016, the company experienced the following three accounting events: (1) earned cash revenues of $31,300, (2) paid cash expenses of $14,100, and (3) paid a $2,400 cash dividend to its stockholders...

  Preparing a company statement of cash flows

In preparing a company's statement of cash flows for the most recent year, Ransom Corp. reported

  How much manufacturing overhead was applied to job

Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March—Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the Mar..

  About segregation of duties in manual transactions

Most of the time we talk about segregation of duties in manual transactions. Do you think this key internal control is relevant in the IT control space? If so, any examples of conflicting duties being performed by technology personnel ?

  Pounds to be sold to break even

Watson's Fish Company buys whole salmon from various fishermen is at $3 per pound and sells the fish to restaurants for $5 per pound. Its fixed costs are $22,800 per month. How many pounds must be sold to break even, and how many pounds must be sold ..

  Prepare the appropriate journal entries

The overhaul was completed on January 7, 2011 at a cost of $28,000. Because of a slowdown in the economy, the truck only operated for 21,000 km for the remainder of 2011. Instructions Prepare the appropriate journal entries for 2011 relating to t..

  Accurate when it pertains to managerial accounting

Which of the following is not accurate when it pertains to managerial accounting?

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!

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