Explain the standard hours standard rate
In the direct labor variance matrix, there are three factors: (1) Actual hours Actual rate, (2) Actual hours Standard rate, and (3) Standard hours Standard rate. Using the numbers, indicate the formulas for each of the direct labor variances.
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Assume the following facts:2008 Taxable income(modified) $7,000 2009 Net operating loss ($12,000) 2010 Taxable income(modified) $12,000 2011 Taxable income(modified) $24,000 2012.
Back Mountain Industries (BMI) has two divisions: East and West. BMI has a cost-of-capital of 15.4%. Selected financial information (in thousands of dollars) for the first year of business follows:
Use the following selected date and additional information from the records of Hitchcock Corporation to answer the question that follows.
On February 1, the Board of Directors declared a 3-for-2 stock split, distributed on February 22 to shareholders of record on February 10
Angelique's Antiques had $475 worth of supplies on hand at the beginning of April. During April,the store paid $600 for supplies. At the end of the month, a hand count showed that there were$350 left of supplies on hand.
The following direct materials and direct labor data pertain to the operations of Batista Manufacturing Company for the month of August. Costs Quantities Actual labor rate $13 per hour Actual hours incurred and used 4,250 hours.
Flower Company has 40,000 shares of $100 par, 2% cumulative preferred stock and 200,00 shares of $50 par common stock. The following amounts were distributed as dividends.
Before making its year-end adjustments, the net income for Gannet Company was $80,000. Year-end adjusting entries are necessary for the following items:
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