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Questions -
a. Your Corporation uses a standard cost system to collect costs related to the production. The labor standards for each unit are 1.2 hours at a standard cost of $18 per hour. During the month, employees work 34,000 hours in the production of 30,000 units. The total labor cost was $649,400. What is the rate (price) variance for the month?
b. A small component is purchased for the use in the production of a major product. The standard price of the component is $0.85. During a recent period, 7,800 units were purchased and 6,800 were actually used. The standard quantity of units allowed for the actual output of the period was 6,540 units. What was the materials quantity variance?
ABC Corporation, a private corporation, has acquired equipment. Record the journal entry that would be made by ABC Corporation on January 1, 2020.
The "uncertainty principle" of the famous physicist, Werner Heisenberg, states that physical phenomena cannot be precisely measured because the very act of measuring affects the phenomenon being measured.
Auditors have come into a department as part of a company-wide audit prior to issuing an audit opinion for the company's financial reports. In a one- to two- page paper (not including the title and reference pages), explain what the staff should e..
Verify DriveGo assets reported on the financial statements, what evidence would you look for to confirm that they are company assets?
Explain the concept behind Homes take's disclosure of gross deferred tax liabilities (future taxable amounts) and gross deferred tax assets (future deductible amounts).
The land and building cost $60,000 and $280,000, respectively, when they were acquired. Prepare the journal entries to record the transactions on April
Prepare 6-column worksheet for the year ended 30 June 2017. Use the same format of the column worksheet provided.describe the information conveyed
Calculate the amount of cash that would be available to the owners if the accounts receivable are collected, the other assets are sold as described, and the liabilities are paid off in full.
which one of the following statements describes the rules about posting transactions into t-accounts in the ledger? for
The company received $484,087 in cash proceeds. Prepare the issuer's journal entry to record the issuance of the bond
What are the accounting and NPV breakeven levels of sales? How do your answers change if the firm's tax rate is 40 percent?
What is the economic order quantity? What would be the optimal order quantity if the carrying cost were cut in half to Rs. 0.05 a filter per month?
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