FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
Bartleby Related Questions Icon

Related questions

Question

Given the following information of the mortgage pool that backs a MPT, what is the regular scheduled payment in month 1 of the security? Use WAC as the mortgage rate and WAM as the number of periods for your calculations. Round your final answer to two decimals.

 

• 30 year FRM, fully amortizing, monthly payments

• Loans seasoned for 3 months before entering pool

• WAM: 357

• WAC: 4%

• Servicer/Guaran

• Prepayment assumption: 75% PSA

Sawyer Industries Inc. (SII), developed standard costs for direct material and direct labour. In 2013, SII estimated the
following standard costs for one of their major products, the 30-litre heavy-duty plastic container. Direct materials
Quantity 0.20 kilograms, Price=$25 per kilogram. Direct labour Quantity=0.10 hours, Price=$15 per hour. During
July, SII produced and sold 10,000 containers using 2,200 kilograms of direct materials at an average actual cost
per kilogram of $24 and 1,050 direct manufacturing labour hours at an average actual wage of $14.75 per hour.
July's direct material efficiency variance is?
Select one:
O a. $4,800 unfavourable.
O b. $4,800 favourable.
O c. $2,200 favourable.
O d. $5,000 unfavourable.
O e. $5,000 favourable.
10
19 20
1
2
Finish attemp
expand button
Transcribed Image Text:Sawyer Industries Inc. (SII), developed standard costs for direct material and direct labour. In 2013, SII estimated the following standard costs for one of their major products, the 30-litre heavy-duty plastic container. Direct materials Quantity 0.20 kilograms, Price=$25 per kilogram. Direct labour Quantity=0.10 hours, Price=$15 per hour. During July, SII produced and sold 10,000 containers using 2,200 kilograms of direct materials at an average actual cost per kilogram of $24 and 1,050 direct manufacturing labour hours at an average actual wage of $14.75 per hour. July's direct material efficiency variance is? Select one: O a. $4,800 unfavourable. O b. $4,800 favourable. O c. $2,200 favourable. O d. $5,000 unfavourable. O e. $5,000 favourable. 10 19 20 1 2 Finish attemp
Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education