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Questions -
Q1. ChemKing uses a standard costing system in the manufacture of its single product. The 35,000 units of raw material purchased and used cost $105,000, and two units of raw material are required to produce one unit of ?nal product. In November, the company produced 12,000 units of product. The budgeted production for November was 14,000, and there was an unfavorable static budget variance of $35,000. What was ChemKing's direct materials price variance?
Q2. Sullivan Corporation's direct labor costs for the month of March were as follows: Standard direct labor hours 42,000 Actual direct labor hours 40,000 Direct labor rate variance - unfavorable $8,400 Standard direct labor rate per hour $6.30 What was Sullivan's total direct labor payroll for the month of March?
Calculate the figures which would appear in C Co's financial statements in respect of these two projects - explain whether you believe that this suggestion would improve the quality of financial reporting for long-term contracts.
Prepare the Trading and Profit and Loss Account for the year ended on Mar 31, 2009 and a Balance Sheet - Provision for doubtful debts is to be maintained at 5% of the Sundry Debtors.
Who is responsible for the cost of the biscuits? At what level is the cost controllable? Do you agree that Barney should be angry with the purchasing agent? With Janet? Why or why not?
Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average-cost.
special revenue fund voluntary non-exchange transactionsthe city of eldon applied for a competitive grant from the
Prepare the cost of goods sold budget for the year 2016. Assume that Nutshell Inc has no closing stock at the end of each month.
Determine the earnings per share of common stock, assuming income before bond interest and income tax is $1,000,000.
What is the cost of machining per coffee table? What is the ending work-in-process inventory balance? Which of the following is a result of cost distortion? Which of the following is a lean strategy?
Show Journal entries to records cost allocated to production and cost of goods completed during the month and Equivalent production during the month
What amount should Riki present for goodwill in its statement of financial position at December 31, 2011, according to IFRS3 Business combinations
Describe and explain two potential advantages of adopting participative budgeting in this context. Sally is the CFO of a tourism agency.
Manufacturing overhead was $1,445.000 and the cost per liter was $0.49. Calculate the materials cost for December
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