2) Windser Company made 3,800 bookshelves using 23,200 board feet of wood costing $290,000. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12 per board foot. Required A) Compute the direct materials variances incurred in manufacturing these bookshelves. B) Interpret the direct materials variances. What do you think is happening here? Check: Price variance, $11,600-U
Q: None
A: Step 1:MV of equity=Price of equity*number of shares outstandingMV of equity=66*2500000=165000000MV…
Q: Integrative Cases 1-54 (Algo) Cost Data for Managerial Purposes-Finding Unknowns (LO 1-3) Miller…
A: Calculations: Miller CerealsProjected Income Statement For one year Status…
Q: On nay 2, 2023 Imani placed innservice a new sports utility vehicle that vost $60,000 and has gross…
A: 2. First-Year Depreciation:For vehicles used for business purposes, the first-year depreciation is…
Q: Take-a-Break Travel Company offers spring break travel packages to college students. Two of its…
A: Profit Margin:Profit margin is the difference between the sales and the expenses incurred. For…
Q: Dublin Corporation provides the following information related to its inventory during the month of…
A: Step 1: Number of units under cost of goods sold october 18= 3000-2400 = 600 Step 2: Units of…
Q: Adler Inc. has the following information for four inventory items, reported using the retail method,…
A: To determine the inventory cost to report on the balance sheet on July 31 using the lower of cost or…
Q: Munabhai
A: Benton County Fund Transactionsa1. Benton County Tax Agency FundTransaction 1: Levy of TaxesDebit:…
Q: None
A: **2025:**1. **Income Tax Expense:** - To record income taxes. - Debit: $113,000 * 19% = $21,470 -…
Q: ou'd like to buy a 25-year, noncallable bond with an annual coupon rate of 8.4% paid semi-annually.…
A: Bond Price-The bond price is calculated as the current value of these bonds' future cash flows:…
Q: QUESTION 7 Use the following information to answer the next 5 questions. Purchases…
A: The objective of the question is to calculate the total value of goods available for sale in…
Q: Zaz Ltd purchased three assets during the year ended December 31, 2023: Equipment was purchased on…
A: The objective of the question is to calculate the cost of each asset to be recorded on the Statement…
Q: Alicia has been working for JMM Corp. for 32 years. Alicia participates in JMM's defined benefit…
A: Individual A is entitled to receive percentage of benefits under the plan is calculated by…
Q: Use this information for Carter Co. to answer the question that follows. Carter Co. sells two…
A: Weighted Avg. CM per unit = ((Units of Arks × CM per unit of Arks) + (Units of Bins × CM per unit of…
Q: Chaz Corporation has taxable income in 2023 of $1,312,250 for purposes of computing the §179 expense…
A: A fixed asset's cost might be partially offset by the revenue it generates thanks to depreciation.…
Q: 1. A company manufactures and sells a single product. The variable cost of the product is $2.50 per…
A: In this scenario, we're assessing the impact of accepting a new business proposal on the company's…
Q: (d) At December 31, 2021, Sunland Company reported this information on its balance sheet. Accounts…
A: Step 1: Calculate Average Accounts ReceivableAverage Accounts Receivable = (Beginning Accounts…
Q: Pharoah Acres sponsors a defined-benefit pension plan. The corporation's actuary provides the…
A: Pharoah Acres Pension Plan Worksheet - 2025I. Service Cost ComponentService cost (given) | $100II.…
Q: None
A: You're on the right track! To determine Xavier and Maria's tax situation, we need to follow these…
Q: - The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year…
A: Atticus Group equity analysis:1. Outstanding Shares on Cash Dividend Dates:We need to track the…
Q: In 20X4, Olentangy Health Care's (OHC) cost of capital was 8%. Its investments are $80,000 on a…
A: Replacement cost is the amount of money required for purchasing an asset of the same or higher value…
Q: Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care…
A: The objective of the question is to allocate the joint costs of $924,000 for materials and $516,000…
Q: On October 1, 2024, Richmond Company sold inventory to a customer in a foreign country, denominated…
A: Journal entries are used to record all the financial transactions in a business. It helps to know…
Q: Required: Complete the table for taxes to be withheld for each pay period. Note: Round your…
A: Federal income tax is a tax imposed by the federal government of the United States on the income of…
Q: Amount financed $8300 number of payments 36 apr 11% whats the finance charge and monthly payment…
A: The objective of the question is to calculate the finance charge and the monthly payment amount for…
Q: What is the reference value McDermott should consider when pricing IC-75? What is the…
A: Value-based pricing is frequently applied to goods and services that have distinctive features,…
Q: Problem 20-75 (LO 20-5, LO 20-6) (Algo) [The following information applies to the questions…
A: Capital loss is the difference between a lower selling price and a higher purchase price or cost…
Q: Using the following graduated income tax rates, find the tax withheld per pay period. State Tax Rate…
A: Income tax: The income tax refers to the amount that is paid by the taxpayer to the tax authority of…
Q: In 2024, the Westgate Construction Company entered into a contract to construct a road for Santa…
A: The percentage of completion method is used to recognize the revenue and profit or loss based on the…
Q: None
A: Step 1:A ratio called the equity multiplier is used to calculate a company's financial leverage, or…
Q: None
A: The objective of this question is to prepare the year-end closing entries and a Statement of Changes…
Q: ! Required Information [The following Information applies to the questions displayed below.] Preble…
A: The variance is the difference between the standard and actual cost data. The variance is said to be…
Q: Financial statements for an Investment Trust Fund The Investment Trust Fund for Watson County had…
A: Part 2: ExplanationStep 1: Calculate the total additions- Contributions from participating…
Q: dont provide handwriting solution ..
A: For the 1st Quarter:Beginning Cash Balance: $20,000Total Cash Receipts: $180,000Total Cash…
Q: None
A: Step 1: Facts Sales:January - $75,000February - $80,00040% collection at the month of sale60%…
Q: Q32 For the following organisation, calculate the undiscounted cash flow. You can do it in Excel and…
A: Step 1:Calculating Undiscounted Cash Flow for the Organization : To calculate the undiscounted cash…
Q: Carla Vista Co. incurs these expenditures in purchasing a truck: cash price $28,400, accident…
A: Cost of an asset means the cost incurred on the buying of the asset. It includes the cost price, the…
Q: of what type of costing? And how would you define this type of costing?
A: A cost strategy involves deliberate decisions and actions taken by a company to manage and control…
Q: River Signorini works for New & Old Apparel, which pays employees on a semimonthly basis. River's…
A: Social security tax: Employee's pension and benefit for disability are secured through the social…
Q: It says the answer I type in the boxes are wrong. What is the correct solution.
A: Shown below are the different best fitting functions with their corresponding r-squared…
Q: Avengers Inc. began operations on January 1 of the current year with a $25,000 cashbalance. 40% of…
A: A cash budget acts as a warning mechanism for possible monetary challenges, such problems with…
Q: None
A: Calculations: The corridor equals 10% of the higher of the projected benefit obligation (PBO) or the…
Q: DATA ENVELOPMENT ANALYSIS OUTPUT INPUT STORE LOCATION SALES EBITDA STORE…
A: EBITDAEarnings before interest, taxes, depreciation and amortizationThis provides the amount of…
Q: Required: 1. Calculate the amount paid for goodwill. 2. Record the acquisition of Steinbeck…
A: Goodwill : Goodwill, in accounting and finance, refers to the intangible value attributed to a…
Q: Hansaben
A: ```Part 2: Explanation:Step 1: Calculate Flexible Budget Amounts- To calculate the flexible budget…
Q: None
A: Step 1:1) Debt repayment through 2019 to 2021: The significant increase in debt repayments from 2019…
Q: Standard Costs materials t labor 192,400 lbs. at $5.10 per lb. 18,500 hrs. at $16.90 per hr. Actual…
A: Variance analysis : Analysis of a differences between planned and actual behavior. After analyzing…
Q: Hewlett Plastics Inc. received a loan of $51,000.00 at 3.50% compounded quarterly to purchase…
A: Principal is $ 51,000/.Interest is $ 17,582.10/.Future value is = Principal + Interest =…
Q: 5. A credit note attached to the bank statement indicates that the bank has recovered a bill…
A: The objective of this question is to prepare a bank reconciliation statement for Collette Inc. for…
Q: Required: 1. Calculate the balance in Work in Process as of June 30. 52,600 X 2. Calculate the…
A: Question has been posted with multiple subparts so answer to first 3 parts has been provided.
Q: Required information [The following information applies to the questions displayed below.] On…
A: The depreciation expense is charged on the fixed assets as a reduction in the value of the fixed…
Step by step
Solved in 2 steps
- Kavallia Company set a standard cost for one item at 328,000; allowable deviation is 14,500. Actual costs for the past six months are as follows: Required: 1. Calculate the variance from standard for each month. Which months should be investigated? 2. What if the company uses a two-part rule for investigating variances? The allowable deviation is the lesser of 4 percent of the standard amount or 14,500. Now which months should be investigated?Uchdorf Manufacturing just completed a study of its purchasing activity with the objective of improving its efficiency. The driver for the activity is number of purchase orders. The following data pertain to the activity for the most recent year: Activity supply: five purchasing agents capable of processing 2,400 orders per year (12,000 orders) Purchasing agent cost (salary): 45,600 per year Actual usage: 10,600 orders per year Value-added quantity: 7,000 orders per year Required: 1. Calculate the volume variance and explain its significance. 2. Calculate the unused capacity variance and explain its use. 3. What if the actual usage drops to 9,000 orders? What effect will this have on capacity management? What will be the level of spending reduction if the value-added standard is met?The production cost for a waterproof phone case is $7 per unit and fixed costs are $23,000 per month. How much is the favorable or unfavorable variance If 5,500 units were produced for a total of $61,000?
- The normal capacity of a manufacturing plant is 30,000 direct labor hours or 20,000 units per month. Standard fixed costs are 6,000, and variable costs are 12,000. Data for two months follow: For each month, make a single journal entry to charge overhead to Work in Process, to close Factory Overhead, and to record variances. Indicate the types of variances and state whether each is favorable or unfavorable. (Hint: You must first compute the flexible-budget and production-volume variances.)At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Lopez computes its overhead rates using practical volume, which is 80,000 units. The actual results for the year are as follows: (a) Units produced: 79,600; (b) Direct labor: 158,900 hours at 18.10; (c) FOH: 831,000; and (d) VOH: 112,400. Required: 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances.Use the following standard cost card for 1 gallon of ice cream to answer the questions. Actual direct costs incurred to make 50 gallons of ice cream: 275 quarts of cream at $1.05 per quart 832 ounces of sugar at $0.075 per ounce 165 minutes of labor at $37 per hour All materials used were bought during the current period. A. Compute the material and labor variances. B. comment on the results and possible causes of the variances.
- Use the following standard cost card for 1 gallon of ice cream to answer the questions. Actual direct costs incurred to make 50 gallons of ice cream: 275 quarts of cream at $1.05 per quart 832 ounces of sugar at $0.075 per ounce 165 minutes of labor at $37 per hour All material used was bought during the current period. A. Compute the material and labor variances. B. Comment on the results and possible causes of the variances.Sitka Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for one ladder (unit): Sitka Industries made 3,000 ladders in July and used 8,800 pounds of material to make these units. Smith Industries bought 15,500 pounds of material in the current period. There was a $250 unfavorable direct materials price variance. A. How much in total did Sitka pay for the 15,500 pounds? B. What is the direct materials quantity variance? C. What is the total direct material cost variance? D. What ii 9,500 pounds were used to make these ladders, what would be the direct materials quantity variance? E. It there was a $340 favorable direct materials price variance, how much did Sitka pay for the 15,500 pounds of material?A manufacturer planned to use $45 of variable overhead per unit produced, but in the most recent period, it actually used $47 of variable overhead per unit produced. During this same period, the company planned to produce 200 units but actually produced 220 units. What is the variable overhead spending variance?
- A company has determined that the standard for materials is 10 square feet at $4 per square foot. If a process produces 2000 units and uses 18 square feet per unit at $5 per square foot, then what is the materials quantity variance? Select one a $ 64,000 unfavorable b) $64, 000 favorable c) $18,000 unfavorable d) $ 18,000 favorableBellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is $3.65 per pound. 15,100 units used 36,400 pounds, which were purchased at $3.85 per pound. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance b. Direct materials quantity variance c. Direct materials cost variance $ $ $Zillow Inc. has the following data related to direct materials costs for the current month: actual cost for 7,000 pounds of material at $2.50 per pound and standard cost for 6,700 pounds of material at $3.20 per pound. What is the direct materials quantity or efficiency variance? Group of answer choices -$4,900 favorable $4,900 unfavorable $960 unfavorable -$960 favorable