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What were the actual direct labor hours worked? The total hours allowed?
Compute the variances for fixed and variable overhead. Prepare journal entries to record overhead activity. All variances are closed to Cost of Goods Sold.
Compute the direct materials mix and yield variances. Compute the total direct materials usage variance for Chem A and Chem B.
Overview Ethical dilemmas occur in business every day, so it is important to become comfortable with applying ethical standards to a variety of situations
Compute the total direct labor efficiency variance. Show that the total direct labor efficiency variance is equal to the sum of the direct labor mix
Compute the total direct materials usage variance, and then break down this variance into its mix and yield components.
Determine the fixed overhead spending variance. Determine the variable overhead spending variance.
What was the labor time variance as a result of typing 72,000 lines? What was the labor rate variance as a result of the bonus?
How is the "orders past due" measure different from the "buyer's misery index," or are the two measures just measuring the same thing?
Calculate material cost, price, and usage and mix variances. Calculate Material Variances from the following details.
Compute various relevant labour variances. The standard output of production EXE is 25 units per hour in a manufacturing department
810 units of the product was recorded as output of the gang during the month. Calculate various labour variances.
What is meant by reporting by the "principle of exceptions," as the term is used in reference to cost control?
How are standards used in budgetary performance evaluation? What are the two variances between the actual cost
What are budgeted fixed costs at normal volume? Who generally has control over the direct labor cost?
What is a factory overhead cost variance report? A new assistant controller recently was heard to remark:
What does a credit balance in Direct Materials Quantity Variance represent? Briefly explain why firms might use nonfinancial performance measures.
Prepare an income statement through gross profit for Brewster Company. Assume Brewster sold 1,500 units at $80 per unit.
Prepare an income statement through gross profit for Tipton Company. Assume Tipton sold 800 units at $200 per unit.
Determine the standard cost per dining room table. Carolina Furniture Company manufactures unfinished oak furniture.
Showing the total cost variances for direct materials, direct labor, and factory overhead for August. Interpret the budget performance report.
Determine the standard unit materials cost per pound for a standard batch. Determine the direct materials quantity variance for batch W196.
Determine the direct labor rate and time variance for the (1) Cutting Department and (2) Sewing Department.
How many temporary employees should the manager hire for December? If each employee earns a standard $16 per hour
Commercial Printers Company actually produced 15,800 units during July. Determine the direct materials quantity and direct labor time variances.