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Question - Coblentz Fabrication Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (MHs). The company's cost formula for variable manufacturing overhead is $6.20 per MH. The company had budgeted its fixed manufacturing overhead cost at $40,000 for the month. During the month, the actual total variable manufacturing overhead was $48,970 and the actual total fixed manufacturing overhead was $43,000. The actual level of activity for the period was 8,300 MHs. What was the total of the variable overhead spending and fixed overhead budget variances for the month?
Ayala Inc. has conducted following analysis related to its product lines,For each product line, compute operating income using the activity-based costing system
Compute the cost of a single unit of product under both the absorption costing and variable costing approaches
Record each cash receipt (less any cash discount) as a general journal entry. Also, record any sales return as a general journal entry
The Candy Shoppe reports the following sales forecast: August, $110,000; September, $120,000. Cash sales are normally 25% of total sales and all credit sales.
The company is assumed to earn sufficient revenues to generate tax shields from depreciation. Should Pilot Plus Pens replace the old machine now or at the end of five years?
Using the following data, compute (1) the cost of goods manufactured and (2) the cost of goods sold for both Canyon Company and Rossings Company.
Shriver Corp. purchased 5?, $1,000 , 7% bonds of eagle corporation when the market rate of interest was 10%. interest is paid semiannually
Variance Analysis The Lucerne Chocolate Company uses standard costs and a fl exible budget to control its manufacture of fi ne chocolates.
Assuming that the tractor was sold for $10,000, prepare the journal entry to record the sale.
on september 1 klondike co. issued a 90-day note with a faceamount of 120.000 to arctic apparel co. for
Uncorrected Misstatements and Performance Materiality. Pat Colt is auditing the financial statements of Manning Company.
Which of the following statements is (are) false regarding cost allocations and product costing?
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