Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Layner Company uses a standard costing system. During the past quarter, the follow- ing variances were computed:
Variable overhead efficiency variance $ 8,000 U Labor efficiency variance 20,000 U
Labor rate variance 6,000 U
Layner applies variable overhead using a standard rate of $2 per direct labor hour allowed. Four direct labor hours are allowed per unit produced (only one type of product is manufactured). During the quarter, Layner used 20 percent more direct labor hours than should have been used.
Required
1. What were the actual direct labor hours worked? The total hours allowed?
2. What is the standard hourly rate for direct labor? The actual hourly rate?
3. How many actual units were produced?
Describe and evaluate the various approaches for setting transfer prices. How can the use of different approaches between the selling and buying divisions be reconciled?
Distinguish between a cost center, a profit center, and an investment center. What is meant by the terms margin and turnover in ROI calculations?
Cecil Green sells golf hats. He knows that most people will not pay more than $20 for a golf hat. Cecil needs a 40% markup on cost. What should Cecil pay for his golf hats? Round to the nearest cent.
questionon january 1 2002 platte company purchased 80 percent of the common stock of river company.during 2002 river
Compute the amount of cash, in total, which the company can expect to collect in May and compute the budgeted dollar amount of inventory which the company should have on hand at the end of April.
Prepare an income statement for November like the one in Exhibit 2.5. Were the two jobs profitable for Internet Design?
Identify the items in the cash-basis financial statements that make cash-basis accounting inconsistent with the theory underlying the elements of financial statements.
Compute the direct cost of compensating Gaines for her services on the flight from San Diego to Sacramento. Compute the cost of Gaines's services that is an indirect cost.
Calculate the amount of under applied or over applied overhead. How should this Amount be accounted for? Provide specific reasons for your proposals.
company closes any balance in the Manufacturing Overhead account directly to Cost of Goods Sold. Prepare the necessary journal entry.
What is the difference in cost in today's dollar for the two systems? What is the most the firm is willing to pay for the powder-based system?
Cash flows from operating activities-indirect method and Prepare a schedule of cash flows from operating activities using the indirect method.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd