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Wissota Co. applies overhead based on direct labor hours. The variable overhead standard is 4 hours at $6 per hour. During February, Wissota Co. spent $56,700 for variable overhead. 9,150 labor hours were used to produce 2,400 units. How much is variable overhead on the flexible budget? A.$57,600 B. $56,700 C.$54,900 D.$14,400 2. The direct material quantity variance is the difference between the actual quantity and the standard quantity of materials multiplied by the actual price. A.True B.False 3.A standard cost system initially records manufacturing costs at the standard rather than the actual amount. A.True B.False 4. The balanced scorecard attempts to focus managers' attention on more than just financial measures. True False 5. MUSC Company has two divisions, South and East. South produces a unit that East could use in its production. East currently is purchasing 50,000 units from an outside supplier for $50. South is operating at less than full capacity and has variable costs of $27 per unit. The full cost to manufacture the unit is $38. South currently sells 450,000 units at a selling price of $54. If an internal transfer is made, variable costs of $2 shipping and administrative could be avoided. What would be the maximum transfer price?
A fire completely destroyed the entire inventory of Printing Delight Company on April 10, 2014. Fortunately, the books were not destroyed in the fire. The following information is taken from the books of Printing Delight Company for January 1 to A..
What is §1244 stock? Under what conditions is it advantageous for a shareholder to hold §1244 stock? Why did Congress bestow these tax benefits on holders of such stock?
which of the following accounts would not appear on a balance sheet?equipmentinterest payableinterest revenueretained
the city of medina park operates a plumbing and electrical maintenance department responsible for maintaining all water
Indicate whether each of the following independent situations should be treated as a temporary difference or as a permanent difference and explain why.
the following events took place at petes painting company during 2008a. on jan 1 pete bought a used truck for 14000. he
Jennifer and Jamie are starting a businness and have asked you for advice about whether they should form a partnership, a corporation, or some other type of entity. Prepare a list of questions that you should ask in helping them decide which type ..
Discuss the methods of time booking in detail. Explain the objectives of time booking and write detailed notes on I] Job Evaluation and II] Merit Rating
Bob has 2,000,000 of shoes in stock that cost $12 per pair. You are also able to determine the following amounts: Calculate the value of the inventory under both IFRS and US GAAP.
A corporation operates a highly automated flexible manufacturing facility. The capital-intensive nature of the corporation's operations makes internal control over the acquisition and use of fixed assets important management objectives.
freds fasteners is a manufacturing company that has decided they are large enough to choose to be self-insuring for
Compute the revised manufacturing overhead cost per unit for each type of entry door.
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